Finding the best credit card after bankruptcy is not that difficult, if you know where to look and what to look for. Let’s start by talking about secured and unsecured credit cards. When it comes to applying for a credit card after bankruptcy one question that a lot of people seem to have is: Should I apply for a secured credit card or unsecured credit card? In case you don’t know the difference, a secured credit card is “secured” by a special savings account you establish with the credit card issuer which acts as collateral for your credit limit. For example, you deposit $500 in a special savings account and then have a $500 credit limit. If you default, the credit card issuer simply takes the money in your special savings account. Unsecured credit cards are just that – unsecured. Meaning the person fills out a credit application and, based on their credit report, income, etc. are approved for a certain credit limit. Of course, they could also be declined depending on the credit card ...
My Picks for Cards for Any Credit Situation