Obtaining a credit card after bankruptcy
A recent discharged bankrupt will face certain difficulities when applying for credit card services. A recommended option to take is to apply for a secured credit card.
This is a type of card that requires you to deposit a certain sum into a savings account. The card limit will depend on the amount of money that secures the card. The credit card will function like any other credit card and only you know it's secured.
The use of a secured credit card is also a quick way to rebuild good and healthy credit.
Here are some examples of 2 secured credit cards :
Union Plus Secured Credit Card
The card is granted to approved members who make a deposit in an interest-bearing savings account. After 18 months of on-time payments, members are eligible to be reviewed for the regular Union Plus Credit Card.
Benefits include:
* The Secured Credit Card gets reported to the credit bureau as a regular credit card, so other creditors who review your credit will see that you were issued a major credit card - meaning you can build or repair your credit report
* Deposit anywhere between $250 and $5,000 in an interest-bearing Secured Credit Card savings account, then charge against this line of credit every month
* No application fees
* A competitive fixed Annual Percentage Rate (APR)
* A low annual fee
* Eligibility to be considered for the regular Union Plus Credit Card after 18 months of on-time payments
Wells Fargo Secured Credit Card
To establish your credit limit, you must make a deposit of $300-$5,000 (in $100 increments) to a “collateral account.”
Your collateral account determines the limit that you may charge up to, and is held as a deposit. You still need to make monthly payments toward any balance you accrue, as with any other credit card.
After 12 months, you may be eligible to graduate to an unsecured Credit Card, and get back the money you deposited in your collateral account.
Content keywords : Secured Credit Card After Bankruptcy Discharge Bankrupt
posted by News at 9:47 AM
This is a type of card that requires you to deposit a certain sum into a savings account. The card limit will depend on the amount of money that secures the card. The credit card will function like any other credit card and only you know it's secured.
The use of a secured credit card is also a quick way to rebuild good and healthy credit.
Here are some examples of 2 secured credit cards :
Union Plus Secured Credit Card
The card is granted to approved members who make a deposit in an interest-bearing savings account. After 18 months of on-time payments, members are eligible to be reviewed for the regular Union Plus Credit Card.
Benefits include:
* The Secured Credit Card gets reported to the credit bureau as a regular credit card, so other creditors who review your credit will see that you were issued a major credit card - meaning you can build or repair your credit report
* Deposit anywhere between $250 and $5,000 in an interest-bearing Secured Credit Card savings account, then charge against this line of credit every month
* No application fees
* A competitive fixed Annual Percentage Rate (APR)
* A low annual fee
* Eligibility to be considered for the regular Union Plus Credit Card after 18 months of on-time payments
Wells Fargo Secured Credit Card
To establish your credit limit, you must make a deposit of $300-$5,000 (in $100 increments) to a “collateral account.”
Your collateral account determines the limit that you may charge up to, and is held as a deposit. You still need to make monthly payments toward any balance you accrue, as with any other credit card.
After 12 months, you may be eligible to graduate to an unsecured Credit Card, and get back the money you deposited in your collateral account.
Content keywords : Secured Credit Card After Bankruptcy Discharge Bankrupt
posted by News at 9:47 AM
posted by News at 11:56 AM
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