Ask Terry Questions credit card after bankruptcy

credit card after bankruptcy

By Terry Savage on November 12, 2018 | Credit/Debt

What is a good credit card to get after a bankruptcy discharge. I was sent a pre-approved application from Merrick Bank with a $750.00 credit limit. Thank you.

Terry Says

You can probably get a better deal than the one that came in the mail! You need a “secured” card– where you deposit a certain amount of money — typically from $500 to $2,000 with the card issuing bank — and that becomes your credit limit. They give you a regular VISA or MC, and you can use it anywhere, even to withdraw cash. BUT you MUST pay in full and on time EVERY MONTH in order to rebuild your credit.
To see a list of the best deals on secured cards go to this link at You’ll want to compare not only the required deposit, but the rate of interest paid on your deposit, annual fees — and finance charges (though you won’t be carrying a balance, I hope!).



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