Bankruptcy Articles Bankruptcy FAQS - Credit Card After Bankruptcy Tip! Fourth step is optional; you can apply for a mortgage after bankruptcy even with bankruptcy discharged yesterday and just about any time you want. A credit card after bankruptcy? It is possible! You may thinking that obtaining any type of credit card after having filed a Chapter 7 or 13 bankruptcy is an extremely bad idea. However, they can help in reestablishing your credit reputation and history, as well as being quite easy to get. Once you get the credit card after bankruptcy, it is extremely important that you always make the payment on time, as well as continually pay the balance. Doing so will help you in opening up other roads such as home loans, personal loans, or car loans. However, it is important to take extreme care when you apply for a credit card after bankruptcy. Avoid jumping at each credit card offered by any company. They may offer the credit cards to you; however, they will come with low spending limits and high interest rates, when compared to those who have not filed for bankruptcy. You might feel flatterd that these companies are working hard to receive your business, however, avoid being fooled and overextended by their offers. Many companies are well aware of the fact that people who have filed bankruptcy are looking for ways to improve their credit rating; therefore, they may just offer you more than you imagined. Take great care in choosing credit cards and do not allow yourself to fall back into the spiral of debt. Tip! Your credit history will be damaged by bankruptcy; it will appear on your credit report for as long as 10 years. You should have a goal when you obtain a credit card after bankruptcy and it should be to reestablish your credit rating. You should not run out and take a vacation, buy things you do not need, or simply go on a shopping spree. You now have a big negative black mark on your credit report, if you are wanting to rebuild it, you need to take care of your finances, obtaining a credit card after bankruptcy could help you. Use common sense and restraint when using the credit card. Only make small purchases that you would be able to pay off in full each month. This will greatly help you improve your credit rating and reputation. You may find with this kind of discipline that the company offers to raise the spending limit and reduce the amount of interest charged, after six months. Ken Charnley is a personal finance publisher whose website Bankruptcy Loans is dedicated to quality information on Bankruptcy faqs & Loans. For all your Bankruptcy needs and faqs visit Apply for Bankruptcy Loans Online Tip! A bankruptcy filing remains on a Credit Report for as long as 10 years, and it also stays on Court Records for as long as 20 years. Thanks to this, your chances of getting a loan and even a job again, will be minimal.