Credit Cards For Bankrupts


Are you a discharged bankrupt? Start again with Vanquis Bank*



  • Start with manageable credit limit from £150 up to £1,000.
  • Increase your credit limit step by step up to £4,000.
  • Great Benefits Available: Fraud Protection, Vouchers & Savings**.

*To build your credit rating and be considered for credit limit increases, use your card sensibly, stay within your credit limit and pay your monthly minimum payment on time. Not doing so could harm your credit rating and make obtaining credit more difficult.  

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Representative 39.9% APR (variable)

Credit after Bankruptcy

It can be challenging to get credit after a bankruptcy or an Individual Voluntary Arrangement (IVA). A record of past financial difficulties is typically assessed by a lender as a likely indication of how monies lent will be repaid.


A UK Bankruptcy normally lasts for 12 months, after which the bankrupt is automatically discharged and freed from the debts owed and bankruptcy restrictions. However, a bankrupt may find it difficult to obtain new credit even after discharge as many High Street banks are unlikely to consider a discharged bankrupt for a further five years after the bankruptcy.


Vanquis Bank will consider applications from discharged bankrupts. Credit checks are still carried out and your credit history, to the extent you have been able to access credit, since the bankruptcy is taken into account in assessing eligibility.


Vanquis Bank can help provide a credit card to help with a new start and a chance to rebuild your credit history after bankruptcy.


Vanquis Bank, which has already provided credit to over 3.5 million customers, is willing to consider applications for credit from discharged bankrupts and other persons who are often refused credit elsewhere. With a helpful UK based call centre, responsible lending limits and easy to access online card servicing, Vanquis can be used responsibly as part of the solution to rebuilding credit ratings.


If you are considering going bankrupt:


According to the National Statistics, the number of people who became insolvent in England and Wales in 2016 was 90,930, a 13.1% rise on the previous year.


Anyone can apply to the court to make themselves bankrupt or creditors owed at least £750 can petition the court to make a debtor bankrupt. A bankruptcy order means a person’s assets (possessions, home, income etc) can be used to repay the debts in the bankruptcy order.


The rules that are agreed to in the bankruptcy will then apply, a financial investigation made into the affairs of the bankrupt and certain restrictions will be applied including: 

  • Not borrowing more than £500 without disclosing the bankruptcy
  • Giving up bank and credit cards to the Official Receiver
  • Not making payments to creditors other than via the Trustee in Bankruptcy
  • Not acting as a company director or, without permission from the court, managing or promoting a company

A bankrupt is required to continue to pay any debts not included in the bankruptcy such as court fines and student debts.


After 12 months, the bankruptcy is automatically discharged unless any bankruptcy restrictions are broken or the bankrupt person does not cooperate with the Official Receiver.


Even after discharge, a bankrupt will not recover assets taken to pay debts and may be required to make payments for a further three years if income levels allow. Restrictions can be continued for up to 15 years if a Bankruptcy Restrictions Order or Bankruptcy Restrictions Undertaking is issued. This can be the case if the bankruptcy was due to dishonest, criminal or careless behaviour.


Getting Credit after a Bankruptcy

After discharge credit reference agencies record the bankruptcy for six years. However, a discharged bankrupt may be able to start working to repair credit much earlier. Vanquis Visa will consider applications from discharged bankrupts. Successful applicants will get access to credit and have the opportunity to begin rebuilding their credit histories by responsibly managing the card, meeting all payments and staying within credit limits. By rebuilding a credit rating a discharged bankrupt can increase the chance of being able to access credit in the future.



** Subject to Payment & Terms and Conditions, please see Existing Customers.