Which types of credit cards should I compare?
One of your best options is a secured credit card. A secured card works similarly to a standard credit card, though you’ll need to put down an upfront cash deposit which often serves as your credit limit. Because of the security deposit, more providers will be willing to take you on as a customer. This is a very important benefit while you still have a bankruptcy on your credit report. Secured credit cards may give you your strongest chances of approval.
While you look for a secured card, consider a provider that reports your payments to the three credit bureaus. If you consistently make your card payments on time, you could slowly see your credit score improve. This is critical while you recover from bankruptcy. In fact, the ideal flow when applying for a credit card post-bankruptcy is as follows:
Get your finances in order > Open a secured credit card > Raise your credit score over time > Apply for an unsecured credit card
Another option in lieu of a secured credit card is a subprime card. These cards are typically barebones with few features and rates that aren’t exactly favorable. Given the choice, we recommend staying away from these cards and sticking with a credit-building secured credit card.