The best credit card after bankruptcy is the one that doesn't have a high annual fee and offers rewards. The Discover it(r) Secured Credit Card is an example of such a card. This card doesn't have any annual fee, foreign transaction or late fees and gives you access to your FICO score.
OpenSky Secured Visa(r), Credit Card
The OpenSky Secured Visa(r), credit card is an excellent choice if you have recently filed for bankruptcy. The card lets you choose a credit limit, based on your refundable deposits. You can also make regular payments. This card also comes with a lower annual fee and an APR than other secured credit options. OpenSky, a secured credit card issued by Capital Bank, comes with all the benefits of a Visa Card.
OpenSky Secured Visa offers another advantage: It does not require you to have a credit report. Your credit limit will be determined by how much you deposit to your card account. You have the option of increasing it at any moment. A $35 annual fee will be charged for this card. The only problem with this card is the inability to transfer to an unsecured account.
Discover it Secured Credit Card
The Discover it secured credit card is the right option for you if you are looking to get your life back on track after bankruptcy. You won't be charged an annual fee and will receive rewards for using your card. This secured credit line does not have foreign transaction fees nor late fees. This secured credit card also gives you free access to your FICO Score, which will help improve your credit score.
Although secured credit cards generally carry a higher interest rate, they can be an important tool to learn proper credit card habits. A Discover it Secured credit card after chapter 13 can help you get back on track with a credit card and earn double cashback rewards on all your purchases for the first year.
Capital One Platinum Secured Card Credit Card
A Capital One Platinum Secured credit card after chapter thirteen is a good choice if you have just filed chapter 13 or have poor credit. This credit card has no annual fee and can grow with you. You will have to put down a security deposit of at least $49, but you can pay it in installments within 35 days. Once you are approved, you will be able to use the card for rebuilding your credit. The company will allow you to increase your credit limit up to $1,000 once your security deposit is paid.
This card is a great option for those who want to rebuild their credit history. You will need to make an initial deposit of $49 or $99, and $200. After that, you can repay it in 30 days in $20 installments. The card does not have rewards or a high credit limit, but it does have some benefits, such as no foreign transaction fees. Mastercard ID theft protection and Fraud Protection are included.