If you've filed for bankruptcy, you can get a credit card after the filing. The initial card you get won't have many features. To get started, you will need to make a security deposit. Most credit card companies offer upgrades. Even without a security deposit, you can upgrade to a credit-card. Here are some tips to help you get a card even if your bankruptcy is over.
Milestone Mastercard
Milestone Mastercard credit may be an option for you if your credit history is poor and you have recently filed for bankruptcy. The company matches borrowers with bankruptcy filings to the best possible card for them. The credit limit is $300, and there is no security deposit required. Considering the high annual fees, the $300 credit limit is quite low. Milestone Mastercard allows applicants pre-qualify before applying. This will not adversely affect their credit scores. However, they don't guarantee approval.
Milestone Mastercard is not without fault. The cash advance APR for Milestone Mastercard is 29.9%. This can lead to significant interest costs if the loan is not paid in time. You can rebuild your credit history by responsibly using the card. However, you should also be familiar with its terms and conditions. As with any other credit card, Milestone Mastercard has strict terms and conditions, and late payments can damage your score.
First Access Visa
First Access Visa(r) Credit Card is a great option for those who need a credit card, but have bad credit. This unsecured card has a $300 credit cap and does not require a security deposits. High fees are the only problem with this card. You must pay $170 in fees up front, and then there are annual and transaction fees as well.
The card's payment deadline is 21 days. This is slightly longer than most credit cards. Other cards allow payments to be late for 24-25 days. If you need to copy documents due to a billing error, you may have to pay a $3 copying fee. Although this card doesn't offer any rewards or an introductory rate, it does waive the cash advance fee and monthly fee (up to $8.25), as well as 3 percent cash advances.
Bank of America Secured Cash Rewards Credit Card
The Bank of America Customized, Cash Rewards Secured MasterCard offers three percent cashback in the categories you choose. Other purchases earn one percent cash back, while dining and grocery store purchases earn two percent. You can change the category once per month. You can also enjoy a 0 percent intro rate for balance transfers for 15 billing cycles. However, you must spend at least $2,500 in a single quarter to be eligible for this benefit.
The Bank of America Customized Rewards Cash Rewards Secured Card is made for people with poor credit. This card will help you rebuild credit. It has no annual fee and provides free credit score monitoring. This card can help you begin your recovery process. Although it may be difficult to establish positive credit scores after bankruptcy, there are many advantages to using this card. This credit card is great for bankrupts because it offers amazing rewards. You can get cash back for certain purchases. Additionally, you can receive rewards from wholesale clubs and grocery shops.