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Step 1
Accept a pre-approved credit card offer. After a bankruptcy, expect to be bombarded with credit card offers. Since a bankruptcy destroys your credit rating, lenders know how important it is for a person to quickly re-build. Hence, many credit card companies target recent bankrupt individuals and offer them easy credit.
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Step 2
Know the terms. Before accepting a pre-approved credit card offer after a bankruptcy, read the terms carefully. The interest rate on these credit cards are high - perhaps 29 or 30 percent. In addition, a few bad credit credit cards have annual fees, monthly maintenance fees and excessive late fees.
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Step 3
Contact your bank or credit union. Your bank or credit union may be willing to approve you for a reasonable rate credit card, especially if you have a good track record with them. Explain your situation and ask for the lowest rate possible.
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Step 4
Get a secured credit card. After bankruptcy, getting approved for an unsecured credit card is tough. On the other hand, you can get approved for a secured credit card. Simply put down a down payment with a bank or credit card company and receive a credit card. Persons who submit a $500 down payment receive a $500 limit. Once you make regular payments for two years, the credit card switches to an unsecured account, and you get your deposit back.
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Step 5
Get a co-signer. Ask a friend, relative or spouse to be a joint applicant on a credit card. For this method to work, the other person must have good credit. This will help you get a credit card with a decent rate. However, if you fail to make payments, the other person becomes responsible for the debt.
