Have you filed for bankruptcy due to an over-flowing amount of debt? Did you ever pay off your credit card on time? The bankruptcy you decided to choose as your financial life-saving struggles will be staying on your credit report for ten years. You should be aware of important tips that will help you get back to using a credit card again.
The number one thing that you should know is that you need to be able to know what you owe, write it down, and pay it off on time. Don’t pay it off the day before, but pay it in advance. In addition, don’t apply for new credit cards, or apply for too many credit cards at once or it will look really bad on your credit report. This will scare off the banks and deny your credit card application every time. An unsecured credit card could be one you will be approved for.This type of credit card is given to those with little to no credit at all, and you don’t have to put money in order to have a credit limit.
Avoid excessive spending, applying for multiple credit cards, not paying on time and you will be on the right track of banks gaining back your trust again. Make sure to always check your credit report for a better view of how you’re doing with your credit card situations. Check that you’re also not using all the money on your credit card. Using all the money on your credit will lower your credit score by a lot. Building Credit can be done by checking everything in on point from credit reports to not spending way too much. Don’t rely on your credit card for emergency spending, but create a savings plan for any future problems. Don’t consider everything to be an emergency, make sure you think twice about what you consider an emergency before spending everything with your saving.
While Building Credit, you need to remind yourself that you have filed for a bankruptcy before and that you need to be more careful to ensure it doesn’t happen again. Constantly look at your credit card history to see if you’re spending wisely, or if you need to change your way of spending. Building credit again, after filing for a bankruptcy will facilitate your life by following these tips, if you have any further questions please feel free to call us!