A history of debt accumulation that leads to bankruptcy can make it more difficult for you to obtain credit in the future. However, this does not mean that bankruptcy makes it impossible for you to obtain credit cards after discharging your debts through bankruptcy.

According to U.S. News and World Report, the opposite may be true. Since you cannot file for bankruptcy again for two to eight years, depending on the type you file, credit card companies may consider you a good financial risk. You may find that filing for bankruptcy prompts unsolicited credit card offers arriving in your mail.

Therefore, the question may not be whether you can obtain a credit card after filing for bankruptcy but whether it is a good idea in your situation. Here are some advantages and disadvantages to consider.

Advantages

There are some situations that require the use of a credit card, such as making purchases online. Obtaining a new credit card makes these opportunities available to you. After your bankruptcy discharge, your next task is to rebuild your credit. A new card can help you do this if you make only make small purchases and pay off the balance on time every month.

Disadvantages

Some people decide to hold off on obtaining a new credit card after bankruptcy because they are afraid that having one may encourage them to fall back into their old habits of accumulating debt again. Even if you can obtain a credit card following bankruptcy, you may have to pay higher fees and be subject to a higher interest rate. You will have to decide if the extra cost is worth it.