What credit card providers have the best offers when you have had a previous bankruptcy

Filing bankruptcy is not the end of the world as many people may think. Chapter 7 bankruptcy will erase all your credit card debt; you will need to find a good bankruptcy attorney to help you file bankruptcy. It is not a good idea to have too many credit cards because before you know it, you have so much credit card debt, and you may not be able to make even the minimum payments. If you cannot make your minimum payment, then the bank starts adding late fees, and before you know it, you are drowning in debt.

Declaring bankruptcy not only affects your credit score, but also your finances. Many banks and other lenders will look at your FICO score to see if you are a good risk for them to lend you credit. A FICO score above 700 is very good. A bankruptcy can remain on your credit report for up to ten years, making it very difficult for you to obtain any type of credit at all.

The first thing you will want to do after your bankruptcy is dismissed is to apply for a secured credit card. With a secured card, you have to put down a security deposit with a Credit Card Company. It is a very good idea to pay off the balance in full each month so you do not incur any interest charges. Secured credit cards often carry very high interest rates so you will want to make sure you pay them on time, because your payment history makes up 35% of your credit score.

There are quite a few credit card companies that offer secured credit cards. One secured card is First Progress Platinum Elite MasterCard® Secured Credit Card. This card requires a refundable security deposit. While finding the right secured credit card may be a bit more challenging then going out with a 750 credit score and shopping for a cash back card with lots of perks, the good news is that there are cards available for consumers who are rebuilding their credit profiles,

Capital One offers a Secured MasterCard is another good card to get to help repair your credit.

First Progress Platinum Prestige MasterCard Secured Credit Card is another good card to get, and it has no an annual fee.

Some other secured credit cards include: The Secured Visa from Merrick Bank is a good card to get to help repair your credit history. Never pay just the minimum amount, try to pay the balance off in full each month. This will get your credit score up there much faster. Also shop around for the lowest interest rate card.

Remember it is very important to learn to be patient. Bankruptcy did not happen overnight, and neither will the road to improving your credit.

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