There are many credit card issuers out there promoting what some people refer to as “bankruptcy credit cards” – that is, credit cards for people who have a bankruptcy on their credit report.
Of course, these credit card issuers target individuals with poor credit in general, not just those with bankruptcies – but for the purpose of this article, we will use the term “bankruptcy credit card”.
Most of the bankruptcy credit cards you see advertised are secured credit cards. If you are not familiar with a secured credit card, it’s “secured” by a special savings account you establish with the issuing bank which acts as collateral for the line of credit you receive with the bankruptcy credit card.