No, however once you have completed the 1 year term of bankruptcy you can then apply for a pre-paid credit card to begin rebuilding your credit.
There are several companies that offer credit cards for small businesses. They are Capital One, American Express, and also Visa has credit cards available.
Some banks will give you a loan for a small business if you have the proper credit. And yes, there are some credit cards available specifically for small businesses.
Normally the bankruptcy will remain on your report for 10yrs. The longer it is on your report the less impact it has on your score, although still an eye soar to potential creditors. I would recommend establishing one or two cards to build up your credit. Orchard Bank and First Premier are two of the easiest approval cards. Also, I would recommend establishing a secured loan with a small credit union that report to the 3 credit agencies. On the credit card(s) try to keep the balances below 35% if the credit line. A good credit score is also based on various types of credit, not just revolving credit (Credit Cards).
American Express offers several different products and services. They offer credit cards, savings accounts, prepaid cards, credit cards, corporate cards, small business credit cards, and credit reports.
There are several credit cards that support small businesses. Some of these cards are: JP Morgan Chase, Bank of America, DiscoverIt, Wells Fargo, and Compare Spark.
Capital One does offer small business credit cards. You can apply with a 0% introductory APR. Capital One provides 6 different small business credit cards to suit small business owners needs with no annual fees and no limit on rewards.
There are a number of excellent small business credit cards. The best will vary depending on the features a business is looking for. Some of the best small business credit cards are the BMO Premium CashBack Mastercard and the American Express Business Gold Rewards Card.
All of the major credit cards offer credit cards to small businesses. There is still a form and a credit check that will be run to make sure your company isn't failing as it is starting.
There are several key credit card companies that currently offer great incentives on small business credit cards. I would suggest checking out MasterCard for their service.
Locating the perfect small business credit card that suits your need can be a difficult task, simply because today's credit cards offer varying reward programs, credit limits and finance rates. Creditcards.com provides a chart comparing numerous small business credit cards.
Most people are shocked to find they actually will start receiving offers for new credit once they file a bankruptcy case. Offers for secured and unsecured credit cards, car loans etc. You hear evidence of this everyday, just listen to the radio. Car advertisers or dealers saying, good credit, bad credit, Bankruptcy okay..... They mean it ,just don't expect to go in and command the best rates. Rebuilding is tough, make sure you make all payments on time no matter how small the debt.
You have to go through an entirely different process to get a small business credit. You should file your taxes just the same.
I don't have a definitive answer, but it has been my experience that normally you can keep an account in a bank after filing bankruptcy on their credit card. I have found some small, local banks though (usually credit unions) that do require people to close their account(s) if they file bankruptcy on the bank. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
The only way to rebuild credit after bankruptcy is to take out credit. But it must be done in an incredibly TIMELY and controlled manner. For instance, taking out credit cards in which you maintain a small balance and make many exact and timely payments. Basically showing that you can take out credit and control it pushes your score up. Any type of default in payment amount or time will hurt your score further. The article below lists a number of pointers for helping in this process.
Credit cards are not money, they are used to purchase things under a temporary loan, which can be repaid at a later time for a small fee charged by the credit card issuer.
By going to http://www.creditcards.com/business.php you will be able to analyze a list of small business credit cards to find the one best-suited to your needs.
One could get credit cards for a small business by applying with a credit card company such as Visa, American Express or Discover. One could also visit websites such as Nerd Wallet or Credit Card.
Many small businesses take payments in the form of cash, check, credit and debit cards. If the cost is too much to process credit cards and debit cards the business will not have that option available.
www.nerdwallet.com/business-credit-cards This is a site which lists many business credit card offers for a good comparison of the cards available online. This website is a good provider of information on the various cards and providers.
One company that provides a small business credit card with benefits is Chase. This credit line is the ChaseINK line.
You can qualify to file for bankruptcy if you owe a substantial amount of money to your creditors and/or car loan and mortgage companies. It is not worth filing bankruptcy for small debt as bankruptcies range from 900 dollars to a couple thousand dollars.
It is important to be aware that you can recover financially from personal bankruptcy. You should examine what caused the bankruptcy and ensure you do not fall into the same traps. By taking out small amounts of credit on a credit card and ensuring the bills are paid in full every month a good credit history can gradually be built up.
As India's economy strengthens and grows, Indian-based credit cards are increasing in popularity. More Indians are working and small businesses are continuing to open, creating a need for credit cards.
Some famous credit cards are: Master Card, Visa, Discover and American Express. Credit cards are used by many people across the world to carry large amounts of money in small pockets.
VISA small business credit cards are generally obtained through an application with a financial institution that does VISA business cards. A list of these institutions, as well as links to their particular applications, can be found on VISA's websites.