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lapley
lapley Posts: 57 Forumite
in Bankruptcy & living with it
Could any body advice once out of Bankruptcy which is best credit Card to apply for?
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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Anything will do, but try a sub prime one for best chances.
  • Head_Burried
    Head_Burried Posts: 22 Forumite
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    Vanquis gave me one 3 days after discharge with a limit of £1000.
  • 023456789
    023456789 Posts: 147 Forumite
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    Head_Burried wrote: »
    Vanquis gave me one 3 days after discharge with a limit of £1000.
    Have they been known to give credit to someone who had them as a creditor? I will be in that position in a years time.
    Don't worry it'll all work out in the end :beer:

    Pushing through the mountain
  • mwarby
    mwarby Posts: 2,048 Forumite
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    capital one had me as a creditor, I avoided applying to them, but did after about 2 years and they accepted me
  • SarahDoe
    SarahDoe Posts: 39 Forumite
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    Got vanquis on the day of discharge (1k limit) and capital one after 2 months (1250 limit). :-)
  • Willing2Learn
    Willing2Learn Posts: 6,294 Forumite
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    If anyone is considering getting a new credit card post-bankruptcy, I think it is absolutely vital that you have a successful working monthly budget operational, before the credit card application is made.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    lapley wrote: »
    Could any body advise once out of Bankruptcy which is best credit Card to apply for?


    Why would you risk getting into debt again, especially so soon out of bankrupcy ?
    Its absolute maddness, the budget restrictions in bankrupcy are fairly tight, but you learn to live within your means, and that is a good path to follow into your future life.

    You can build credit history in many ways, without resorting to credit cards, personally i hate the things, its all too easy to rack up large amounts of debt, in a very short space of time, and before you know it, you have 5 or 6 of the things in your wallet, just think long and hard before you do this.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • RattyIrk
    RattyIrk Posts: 66 Forumite
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    Credit cards seem a relatively easy way to start building up your credit again but I guess it comes down to the reasons for bankruptcy. If going crazy on credit cards was the reason then maybe not sensible! Probably too tempting.

    My own plan is to get a credit card when discharged, buy stuff on it but immediately pay it back and preferably same day. I never used credit cards pre-bankruptcy so can see me sticking to it.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Don't pay it back same day. You need it to appear on your files that you're using it or there's no point in having it.

    Always wait for the statement.
  • fatbelly
    fatbelly Posts: 20,499 Forumite
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    Credit Card Eligibility Calculator
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