Unsecured Credit Cards for Rebuilding Credit after Bankruptcy

You truly can have excellent credit again after a bankruptcy. You can have a credit score of 750 even before the bankruptcy mark falls off your credit report if you begin working hard on your credit score immediately after your bankruptcy proceedings are over. Once you receive the discharge notice from bankruptcy court, you can show this discharge paperwork to creditors and you may be offered new credit lines.

After filing for bankruptcy, you will likely start to receive numerous credit card offers. Some will be unsecured, which means you do not have to give the lending institution any money in order to open the credit card. When opening a new credit card, the higher the limit, the better it can be for your credit score (or worse, if you fail to keep the balance low). 

As with secured credit cards, you must be careful of upfront fees and also find out if the lender will report your credit card activity to all three major credit bureaus - Experian, Equifax and TransUnion.

With an unsecured credit card, you should be able to request and receive a credit line increase every 12 months. 

Also, you should try to avoid carrying a balance on your cards. The fastest way to improve your credit score is to only use the card if you can pay it off in full each month or within a few months. It's always great to speak o an experienced attorney who understands the pros and cons.

Richard Croce - Rich@rrc-llc.com