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Bankruptcy Credit Cards


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Following a bankruptcy, the length of time until you get approved for a credit card is up to each individual issuer. Whether you get approved or denied for a credit card (along with issues of credit quality and your credit limit) are entirely up to the banks that issue credit cards. As a result, it is possible that you could be approved for a credit card soon after declaring bankruptcy, but it depends on the issuer. There are many banks/credit card companies who consider issuing a credit card to someone who holds bad credit is as an ok situation. However this depends on the company policies.

Still, it is likely that any credit card you are approved for will carry a high interest rate and a very low credit limit, based on the credit risk you appear to present to lenders.

Regardless of which type of card you choose, avoid applying for too many cards at the same time. Multiple credit card applications make you appear desperate for credit and can hurt your credit score.


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