Are you battling through your bankruptcy and not knowing where to turn to get out of the bad credit hole you are in? Bankruptcy is hard enough on you and your life without having to worry about how you will be viewed by lenders after you emerge from it in a few years. This is natural since most lenders may not want to extend a loan to you if you have previously declared bankruptcy. But it is even more true when speaking of obtaining an unsecured credit card after bankruptcy.

There are two types of credit cards; secured and unsecured. A secured credit card requires a cash deposit that is then used to provide collateral to the credit line that is given on the credit card. Secured credit cards are easier to obtain as it is basically backed by your own money. Unsecured credit cards are not backed by any deposit and therefore are more difficult to get. Either one of these will be a challenge to get after bankruptcy. The secured card will require money (which you may not have) and the unsecured card usually is easier to get if your credit history is good (which it will not be for awhile).

The best way to find an unsecured credit card after bankruptcy is to go online and apply. You will get an instant approval or instant decline and can then go from there. The bankruptcy will weigh against you, but you may find a company that will give you a credit card (with a low limit).

You will find that many credit card companies online that will have special programs to issue credit cards for people with bad credit. These are what is called a bankruptcy credit card. And while if you are applying for a credit card after bankruptcy and you might get the card, you will also be faced with either a higher interest rate or a lower credit limit. In either scenario, you should make sure you pay off the credit card balance every month so-as to avoid running up the card to its max limit or to avoid paying high interest rates on the balance.

Paying off the balance each month has another advantage. It helps repair your credit. As you work your way out of the bad credit hole you are in, getting an account that is showing on your credit report that is showing you “pays as agreed” is golden!! This is because the “bad” parts of your credit report will eventually fall off and disappear to any new creditor. So when the last one finally disappears from your report, if you have a bunch of new unsecured credit cards or loans that are always on time every month, you will have gone from credit “zero” to credit “hero”.

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Apply online for a credit card if you are working your way out of bankruptcy. You may be surprised at the types of cards and the credit limit you receive!