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What Are the Best Credit Cards for Bankruptcies?

Eva MarcilleVerified
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Summary：Discover the top credit cards that cater to people with bankruptcies, including secured and unsecured options that offer cashback rewards and higher credit lines.

As a bankrupt individual, it may be challenging to obtain a credit card. However, there are credit cards that cater to people with bankruptcies. To help you choose the best credit card for your situation, we have compiled a list of the topcredit cards for bankruptciesand their benefits.

1. Discover it Secured Credit Card

The Discover it Secured Credit Card is an excellent option for those who have just been discharged from bankruptcy. It is a secured credit card, which means you will need to make a deposit to open the account. The deposit will determine your credit limit, and you will be able to use the card just like any other credit card. The Discover it Secured Credit Card also offerscashback rewards, and after eight months of good payment behavior, Discover will evaluate your account to see if you qualify for an unsecured credit card.

2. Capital One QuicksilverOne Cash Rewards Credit Card

The Capital One QuicksilverOne Cash Rewards Credit Card is an unsecured credit card that is designed for people with fair credit. Although it has anannual fee, it offers cashback rewards, and you can also receive a highercredit lineafter making your first five monthly payments on time. The Capital One QuicksilverOne Cash Rewards Credit Card is an excellent option for those who want to rebuild their credit after bankruptcy.

3. OpenSky Secured Visa Credit Card

The OpenSky Secured Visa Credit Card is another secured credit card that is designed for people who havebad credit. It has no credit check, and you can open an account with a minimum deposit of $200. The OpenSky Secured Visa Credit Card reports to all three credit bureaus, which can help you rebuild your credit after bankruptcy.

4. Credit One Bank Platinum Visa for Rebuilding Credit

The Credit One Bank Platinum Visa for Rebuilding Credit is an unsecured credit card that is designed for people with bad credit. It has an annual fee, but it offers cashback rewards, and you can also receive a higher credit line after making your first five monthly payments on time. The Credit One Bank Platinum Visa for Rebuilding Credit is an excellent option for those who want to rebuild their credit after bankruptcy.

5. Indigo Platinum Mastercard

The Indigo Platinum Mastercard is an unsecured credit card that is designed for people with bad credit. It has an annual fee, but it offers cashback rewards, and you can also receive a higher credit line after making your first six monthly payments on time. The Indigo Platinum Mastercard is an excellent option for those who want to rebuild their credit after bankruptcy.

In conclusion, there are credit cards that cater to people with bankruptcies. Before applying for a credit card, it is essential to compare the benefits and fees of each card to choose the best one for your situation. With responsible use, these credit cards can help you rebuild your credit and improve your financial situation.

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