Nobody will intend to declare their bankruptcy!
However, one had the ultimate tendency as there are no other options. It’s the only way you can also work out a good credit score standing to get approved for getting an unsecured credit card.
HERE ARE SOME IDEAS TO GET AN UNSECURED CREDIT CARD AFTER BANKRUPTCY:
1. Be mindful when dealing to credit card companies upon your application.
It might be difficult for you to apply for a secured credit card after bankruptcy but at least getting a bad credit unsecured credit card which require no security deposits can be a good start to build up again your credit score. Applying for a credit card after declaring bankruptcy may not guarantee an approval so you have to find one that accepts borrowers even you had past bankruptcies. Read the credit requirements before doing your application.
Again, carefully study the credit company BEFORE you apply!
2. Be wise on using your approved credit card.
Your goal is to have balance at the end of the month. Whether you get approved for a secured or unsecured credit card, never use it to just anything you want. Remember that your priority is to pay your important bills and expenses.
3. Never apply or reapply to lenders you owed before your bankruptcy.
Lending companies you owed money for financing your business may encourage you to borrow again upon hearing of your bankruptcy filing. But don’t stick with them, it won’t be a good idea to do the same mistake the second time around.
After considering these steps, the next thing to do is to build your credit rating. But how can you do it?
The length of time from the start of bankruptcy will determine how soon you can build a better credit rating. Applying for either a secured or unsecured credit card will be a primary step and you really have to make sure you are paying on time clearing your balances at every month end.
It’s a good strategy to keep a low debt to income ratio. Then start looking for good opportunities to apply for a credit card. The combination of loans and credit cards will absolutely build again a better credit profile. It will enhance your opportunity to get approved on your next unsecured credit application.
Always at your service!
Want to know more about the possibility of applying for an unsecured credit card? Read more here http://www.newhorizon.org/credit-info/is-it-possible-to-get-an-unsecured-credit-card-after-bankruptcy/
Looking for unsecured credit cards for people with bad credit? Apply here http://www.newhorizon.org/Info/unsecured.htm
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