Less than $2,500 More than $2,500
Always Never Sometimes

Bankruptcy

Bankruptcy is the legal process through which a person declares an inability to pay their debts. While there are different types of bankruptcies, a bankruptcy is extremely harmful to a person’s credit score and their ability to borrow money in the future.

Click for the full glossary of credit card terms.

Similar Articles:

Credit Cards

Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

Less than $2,500 More than $2,500
Always Never Sometimes