Retail credit cards: Not the best deal

July 16, 2019
>> Credit cards

pika-big — “Even with a little cheese on them?”

Let’s say your New York bankruptcy case is completed and you’re contemplating your options for credit cards. (Because you know that having a credit card and using it wisely is a good way to help rebuild your credit.) A retail credit card is likely not your best option. You’re probably better off with an unsecured or secured credit card.

Why? Because retail credit cards:

1. Tend to have higher interest rates than unsecured or secured credit cards.

2. Limit you to buying products from that particular store or vendor.

3. Sometimes have contract language that enables them to repossess your goods if you miss a payment. Regular credit cards don’t have anything like that, so why take the risk?

When you come out of bankruptcy, the first credit card you’ll likely be able to obtain will be a secured credit card. After that, regular plain old unsecured credit cards are likely your best option.

If you have questions about credit cards or are dealing with credit card debt problems, please feel free to contact me for a free initial consultation.

Contact Bruce Weiner, Esq.

EMAIL Bruce Weiner
Phone
(718) 855-6840 (Local)
(866) 402-8476 (Toll Free)
Fax (718) 625-1966

Go to Bankruptcy Attorney Brooklyn NY to learn more about Rosenberg Musso & Weiner LLP and/or to set up a free consultation.

Rosenberg, Musso & Weiner, L.L.P
26 Court St # 2211
Brooklyn, NY 11242, USA
718-855-6840
http://nybankruptcy.net/

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