how to get credit after bankruptcy

markbooth1966

Anyone know which credit card companies give credit cards to someone who has come out of bankruptcy 12 months ago?

alastairq

Vanquis have been known to...but often one has to wait a couple of years from discharge....

2dogs4kids

I was made br and vanquis gave me a credit card after 3 years from the br date. 49.9% but it worked as a way to kick start my credit rating as I have a Tesco card now with a normal rate. Also I am now offered cards all the time. Good luck.

Heycock

I applied to vanquis the month after my early discharge(8 months) and was accepted instantly. Vanquis can do this because their lead-in credit limit is only £250 so they can afford to take risks. Also their interest rate is rather high if you don't pay in full each month. They increase your limit quite regularly...mine is now £2000 but I don't use it much...I only applied to see what would happen!

dojoman

I got mine from Vanquis about 3 months after discharge, Cap 1 refused me.

Eve1975

I got mine from Vanquis 17 months after going bankrupt. At 1st they declined me then wrote to me saying I had been successful! I had £250 to start of with and I think it went to £750 and now £2250. I applied for an MBNA one end of last year (5 years after bankruptcy) which was 0% interest until this summer then 11% so better than Vanquis. I have a Next account also which I got 2 years after bankruptcy. Think I have about £8000 in credit available now but of course I hardly use any of it, only to keep my credit report looking healthy. So you can get there in the end. Hoping to get a mortgage soon.

MikeJO

Vanquis three months after discharge for me too....£250 limit at 59.9% in my case, now up to £2500 (and a gold card) after having it sixteen months...but the interest rate is still 59.9%!

But the interest rate obviously means nothing if you pay in full every month; they've not had a penny!