{"id":1767,"date":"2020-11-12T02:55:23","date_gmt":"2020-11-12T02:55:23","guid":{"rendered":"http:\/\/www.westcoastbk.com\/blog\/?p=1767"},"modified":"2020-11-12T02:56:41","modified_gmt":"2020-11-12T02:56:41","slug":"what-are-the-best-credit-cards-to-rebuild-credit-after-filing-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.westcoastbk.com\/blog\/2020\/11\/what-are-the-best-credit-cards-to-rebuild-credit-after-filing-bankruptcy\/","title":{"rendered":"What Are The Best Credit Cards To Rebuild Credit After Filing Bankruptcy?"},"content":{"rendered":"\n<p>By <a href=\"http:\/\/www.fremont-bankruptcy-attorney.com\/Ryan-C-Wood.aspx\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Ryan C. Wood (opens in a new tab)\">Ryan C. Wood<\/a><\/p>\n\n\n\n<p>The best credit cards to rebuild credit after filing\nbankruptcy are secured creditors with no annual fee.&nbsp; Do they exist?&nbsp; Yes, secured credit cards with no annual fees\ndo in fact exist.&nbsp; Like all parts of\ncapitalism there are business, banks and lenders that are targeting this\nsegment of society and offer services.&nbsp;\nMany of my chapter 7 clients report receiving vehicle loan offers in the\nmail even before they receive a discharge in their chapter 7 bankruptcy\ncase.&nbsp; Lenders are targeting them given\nthe lenders know they have not debts post-discharge.&nbsp; &nbsp;<\/p>\n\n\n\n<p><strong>Best Credit Cards to Rebuild Credit After Filing Bankruptcy<\/strong><\/p>\n\n\n\n<p>The following is a list compiled from many different websites\nand the information may no longer be accurate due to interest rate changes and\nother factors.&nbsp; Some of the interest\nrates are very high.&nbsp; If you pay off the\nbalance each month it does not matter at all though.&nbsp; You may want to start with the highest interest\nrate no annual fee cards since they are more likely to give you a card.&nbsp; If no success, then try the low interest rate\nlow annual fee cards.&nbsp; If not then try\nthe high interest rate with high annual fee cards.&nbsp; <\/p>\n\n\n\n<p>Surge MasterCard:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0                   Annual Fee $75 &#8211; $100\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0    APR- 26% &#8211; 30%<\/p>\n\n\n\n<p>Total Visa Unsecured Card \u2013 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No\nadditional information listed<\/p>\n\n\n\n<p>Petal \u201c1\u201d Visa Credit Card:                                            No annual fee\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0           APR &#8211; 20% &#8211; 30%<\/p>\n\n\n\n<p>Platinum Elite Credit MasterCard Secured Card:     Annual Fee $29\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0                      APR &#8211; 19.99%<\/p>\n\n\n\n<ul><li>First Progress<\/li><\/ul>\n\n\n\n<p>Capital One Secured Credit Card:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 No annual fee\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 26.99%<\/p>\n\n\n\n<p>Discover It Secured\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 No annual fee\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0  \u00a0APR \u2013 22.99%<\/p>\n\n\n\n<ul><li>1% &#8211; 2% Cash back on certain purchases<\/li><\/ul>\n\n\n\n<p>Milestone Gold Mastercard:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Annual Fee $35 &#8211; $100\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 24.90% <\/p>\n\n\n\n<p>Avant Credit Card:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Annual Fee $39\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 25.99%<\/p>\n\n\n\n<p>Next Gen Platinum Master Credit Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0   Annual Fee $48 &#8211; $75\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 35.99 %<\/p>\n\n\n\n<ul><li>First Digital<\/li><\/ul>\n\n\n\n<p>Official Nascar Credit Card \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Annual Fee: $0 &#8211; $100\u00a0\u00a0\u00a0APR \u2013 17.99% &#8211; 23.99%<\/p>\n\n\n\n<ul><li>Credit One Bank; 1% cash back on certain\npurchases<\/li><\/ul>\n\n\n\n<p>Platinum Prestige Mastercard Secured Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0     Annual Fee: $49\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 APR &#8211; 9.99%<\/p>\n\n\n\n<p>Merrick Bank Secured Visa Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Annual Fee: $36\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 17.45%<\/p>\n\n\n\n<p>Platinum Elite Mastercard Secured Credit Card\u00a0\u00a0      Annual Fee: $29\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 APR \u2013 19.99%<\/p>\n\n\n\n<p>Credit One Bank Plantinum Visa\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Annual Fee: $0 &#8211; $99\u00a0\u00a0\u00a0\u00a0APR \u2013 17.99% &#8211; 23.99%<\/p>\n\n\n\n<ul><li>For Rebuilding Credit<\/li><\/ul>\n\n\n\n<p>Reflex Mastercard \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Annual Fee: $75-$99\u00a0\u00a0 \u00a0APR- 25.90% \u2013 29.99%<\/p>\n\n\n\n<p>First Access Visa Credit Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0   Annual Fee: Unknown\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 Unknown<\/p>\n\n\n\n<p>Fingerhut Advantage Credit Account\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0       Annual Fee: $0.00\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 29.99%<\/p>\n\n\n\n<ul><li>By WebBank<\/li><\/ul>\n\n\n\n<p>Indigo Platinum Mastercard \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0    Annual Fee: $0.00 &#8211; $99\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 24.99%<\/p>\n\n\n\n<p>The Open Sky Secured Visa Credit Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0       Annual Fee: $35\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 17.39%<\/p>\n\n\n\n<p>Platinum Select Mastercard Secured Card\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0        Annual Fee: $39.00\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0APR \u2013 13.99% <\/p>\n\n\n\n<p><strong>How To Rebuild Credit After Bankruptcy<\/strong><\/p>\n\n\n\n<p>Never ever pay anyone or any company to help you rebuild your credit.  Not even a <a href=\"http:\/\/www.fremont-bankruptcy-attorney.com\/milpitas-bankruptcy-lawyers.aspx\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"bankruptcy attorney (opens in a new tab)\">bankruptcy attorney<\/a> like me.\u00a0 There is no magic wand that can be waived to fix a credit score.\u00a0 If you have inaccurate information on your credit report is should be removed so it does not drag down your credit score.\u00a0 You can do this yourself and for little effort.\u00a0 Do not call the phone number on that sign you see posted on a telephone pole promising to fix your credit in 30 \u2013 60 days.\u00a0 It is a scam.\u00a0 At the same time you are always permitted to pay someone to wash your car even when the car is not dirty.\u00a0 <\/p>\n\n\n\n<ul><li>Pay Your Bills Each Month On Time Each and Every Month<\/li><\/ul>\n\n\n\n<p>Yeah, easier said than done right?\u00a0 It is still the single most important step you can take to rebuild credit once things did not go quite right.\u00a0 Pay your cell phone bill on time.\u00a0 Pay your rent on time.\u00a0 Pay your utility bills on time.\u00a0 If you do obtain a credit card or somehow are allowed to keep a credit card be sure to pay the monthly balance off in total each month.\u00a0 Do allow a balance to remain that accrues interest.\u00a0 It all matters at this point and every little bit will help rebuild your credit.<\/p>\n\n\n\n<ul><li>If You Have Credit Do Not Use It All<\/li><\/ul>\n\n\n\n<p>This is referring to the total amount you could borrow or use on your various credit accounts.\u00a0 For example if you have two creditors both with credit limits of $10,000 you have a total of $20,000 in available credit.\u00a0 If you use up all of your available credit you will probably need the services of a <a href=\"http:\/\/www.san-jose-bankruptcy-lawyers.com\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"bankruptcy lawyer (opens in a new tab)\">bankruptcy lawyer<\/a> sooner than later.  The amount of credit you use versus the amount you have is a metric used for your credit score.\u00a0 The lower the percentage the better for your credit score.,\u00a0 For example if you have $20,000 in available credit and you are have a balanced owed totaling $18,000 you are using 90% of your available credit.\u00a0 Not good.\u00a0 If you are only using $2,000 of the available $20,000 you are only using 10%.\u00a0 That is what you want.\u00a0 So a trick you can play to help this percentage is to apply for more credit cards thereby increasing your available credit\u00a0 while the amount you are using stays the same.\u00a0 This will lower the percentage of your available credit you are using.\u00a0 In the example above the person with $18,000 in debt could apply and obtain two more credit cards each with $10,000 credit limits.\u00a0 The would not have $40,000 in available credit while only using $18,000 lowering the percentage to 45% of credit used.\u00a0 This is much better than 90% they had previously.\u00a0 See\u00a0 number three below though too.\u00a0\u00a0\u00a0 <\/p>\n\n\n\n<ul><li>Opening A Bunch of New Accounts All At Once<\/li><\/ul>\n\n\n\n<p>Inquiries for obtaining credit can damage a credit\nscore.&nbsp; Each time you open a new account\nan inquiry is made to the credit bureaus and these temporarily will lower your\ncredit score.&nbsp; So if you open five new\ncredit accounts within a six month period you will have many inquiries and your\ncredit score will suffer.&nbsp; This is a game\nof chess.&nbsp; It is not just jumping over\nyour opponent like in checkers.&nbsp; So open\naccounts over a period of a long time to increase your available credit rather\nthan all at once.&nbsp; Just because you have\n$200,000 in available credit does not mean you have to use it.&nbsp; That is the difficult part when things do not\ngo as planned and credit are used for basic living expenses such as food and\nutilities.&nbsp; But this is about rebuilding\ncredit and having a great credit score so increasing your available credit\nslowly over time is a good thing.&nbsp; <\/p>\n\n\n\n<ul><li>As Mentioned Above Apply For a Secured Credit\nCard<\/li><\/ul>\n\n\n\n<p>Secured credit cards are a great way to rebuild credit.&nbsp; You will have to provide an initial deposit\nso secure the repayment of the credit card but that is fine.&nbsp; As you use the secured credit card and there\nare no issues they will increase your credit limit and eventually the deposit\ncan be refunded to you.&nbsp; It is important\nto note this is not a pre-paid card but a secured credit card.&nbsp; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ryan C. Wood The best credit cards to rebuild credit after filing bankruptcy are secured creditors with no annual fee.&nbsp; Do they exist?&nbsp; Yes, secured credit cards with no annual fees do in fact exist.&nbsp; Like all parts of capitalism there are business, banks and lenders that are targeting this segment of society and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[345,18],"tags":[118,381,382],"_links":{"self":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/1767"}],"collection":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/comments?post=1767"}],"version-history":[{"count":1,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/1767\/revisions"}],"predecessor-version":[{"id":1768,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/posts\/1767\/revisions\/1768"}],"wp:attachment":[{"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/media?parent=1767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/categories?post=1767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.westcoastbk.com\/blog\/wp-json\/wp\/v2\/tags?post=1767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}