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CH13 and a 700 Score - Is it possible?

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Regular Contributor

CH13 and a 700 Score - Is it possible?

My CH13 was discharged August 2016 and falls off my reports in late 2018.  I really want to see if I can get to a 700 score before then but I'm not sure if that has been done by anyone with a reporting CH13 or if it is even possible.  I've been doing everything possible to maximize my scoring:

 

EX: 664

TU: 663

EQ: 672

 

1) Keeping utilization at under 9% each month on revolving accounts

2) Only letting one card report utilization (although PIF every month).  I have 8 open revolving accounts in good standing.

3) Keeping all other cards at $0 balance.  Only using 2 cards; all other cards remain unused.

4) Credit reports are clean and accurate - Only negatives are BK reporting, and EX showing Target as negative although it was IIB.  Tried to dispute with no luck.

5) 3 Installment loans reporting - auto and 2 student loans (Student loans will be paid off by December 2017)

6) AAoA varies between each CRA but generally between 5-8 years

7) Per Experian, my last negative was Target at 5 years and 3 months ago. (I DESPISE TARGET!)

 

Not sure what else I can do to increase my scores.   Any suggestions would be helpful.  Thanks in advance!!

Message 1 of 13
12 REPLIES
Valued Member

Re: CH13 and a 700 Score - Is it possible?

Took me almost 7 years to the date (May will be 7).  I was 699 max for years w/about the same utilization as you.  I am two months from my CH13 coming off my record and just this week I jumped up 40-80 points and all I did was pay off a vacation on my CC.  I know some accounts have fallen off, but the BK is still there.  I am in the process of refinancing my home, so this is good news.  Sadly, I haven't been approved for any of the good rewards cards and lost my AMEX, USAA and United Rewards Card in the CH13.  Hoping to be able to at least get a United or Marriot Rewards card at some point but happy w/my movement thus far.  It does take time and deliberate actions. 

CH13. Filed 2010, Discharged 2014, All fell off APR 2017.
Current Scores (4/30/17): 799 Transunion, 822 Equifax, 792 Experian
Re-stablished with a $500 NFCU secured loan that funded a $500 NFCU secured CC .
Current: NFCU Rewards (20K), NFCU Signature Rewards (20K), NFCU CLOC ($15k),PENFED Travel Rewards AMEX (20k), PENFED Platinum Rewards (20k), BankAmericard Travel Rewards Visa (20K), BankAmericard Alaskan Air Signature (21k), Barclaycard (15K), Discover Card iT (12K)
Message 2 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?


Gypsy5326 wrote:

Took me almost 7 years to the date (May will be 7).  I was 699 max for years w/about the same utilization as you.  I am two months from my CH13 coming off my record and just this week I jumped up 40-80 points and all I did was pay off a vacation on my CC.  I know some accounts have fallen off, but the BK is still there.  I am in the process of refinancing my home, so this is good news.  Sadly, I haven't been approved for any of the good rewards cards and lost my AMEX, USAA and United Rewards Card in the CH13.  Hoping to be able to at least get a United or Marriot Rewards card at some point but happy w/my movement thus far.  It does take time and deliberate actions. 


Thank you for responding!

 

Wow!  So 7 years from your file date?  What deliberate actions did you take?

 

Since I'm only 7 months post discharge, I will see what my scores look like with some gardening.  I have alot of new credit and I'm wondering if that is hindering me right now.   Nonetheless I will continue to keep my utilization the same for the next few years and my auto loan will be 1 year old in December so hopefully that will help.

 

Even with the CH13 reporting, I was able to get 2 Amex cards (ED and Green) and a $9k starting limit Discover card.  Right now I have no plans to app for anything.  So, all I can do is hurry up and wait!  LOL!!

Message 3 of 13
Valued Member

Re: CH13 and a 700 Score - Is it possible?

My actions were really probably no different than yours.  I kept my utilization under 10% unless I took a vacation or had a major purchase (which obviously pushed my score down for a while).  But even w/that If I broke 700 it was only for a month and it kept going back down to 699 +/-.  I only have the two lines of credit listed other than an auto loan and all my payments have been set up on bill-pay or direct debit  w/20% over minimun if not paid in full.  I got cocky after discharge and thought I'd chase/apply for lower cards and that didn't help for sure.  I've learned alot, live almost debt free (I only use the credit cards to keep my credit reporting) and am paying off my truck next month!  Its been a long road and something that stresses me out.  I think because the cards I listed were in my CH13 that I've just been blacklisted but I do feel the 700 mark is a cutoff for better offerings because I was turned down for all my offers under FICO 700 but I may have chased bigger rewards/rates than I deserved.  Cheers! 

 

CH13. Filed 2010, Discharged 2014, All fell off APR 2017.
Current Scores (4/30/17): 799 Transunion, 822 Equifax, 792 Experian
Re-stablished with a $500 NFCU secured loan that funded a $500 NFCU secured CC .
Current: NFCU Rewards (20K), NFCU Signature Rewards (20K), NFCU CLOC ($15k),PENFED Travel Rewards AMEX (20k), PENFED Platinum Rewards (20k), BankAmericard Travel Rewards Visa (20K), BankAmericard Alaskan Air Signature (21k), Barclaycard (15K), Discover Card iT (12K)
Message 4 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?


Gypsy5326 wrote:

My actions were really probably no different than yours.  I kept my utilization under 10% unless I took a vacation or had a major purchase (which obviously pushed my score down for a while).  But even w/that If I broke 700 it was only for a month and it kept going back down to 699 +/-.  I only have the two lines of credit listed other than an auto loan and all my payments have been set up on bill-pay or direct debit  w/20% over minimun if not paid in full.  I got cocky after discharge and thought I'd chase/apply for lower cards and that didn't help for sure.  I've learned alot, live almost debt free (I only use the credit cards to keep my credit reporting) and am paying off my truck next month!  Its been a long road and something that stresses me out.  I think because the cards I listed were in my CH13 that I've just been blacklisted but I do feel the 700 mark is a cutoff for better offerings because I was turned down for all my offers under FICO 700 but I may have chased bigger rewards/rates than I deserved.  Cheers! 

 


I'm sure your scores will go beyond 700 in the next couple of months when your BK stops reporting. 

 

I purposely refrained from opening any store cards; as I didn't want any low limit cards.  I was fortunate I was able to get the Amex and Discover cards.  I also have a Capital One Quicksilver, Barclays Reward and Bank of America Visa (formerly secured).  Honestly, that's plenty as I don't really need them because I've been focused on paying off my student loans (goal: December 2017) and building my 6 month emergency fund.  My new auto loan is at 4.99% so I'm grateful for that as well - wish it was lower but at least it's not 17%!

 

Thanks for you input.  It has really been helpful!

Message 5 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?

I'm really interested in hearing what happens in this thread. Mine was a Chapter 7- not sure if that plays out differently or not. I find it interesting that EQ seems to like me while TU and EX have been stingier with the bumps.


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 6 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?


kberly69 wrote:

I'm really interested in hearing what happens in this thread. Mine was a Chapter 7- not sure if that plays out differently or not. I find it interesting that EQ seems to like me while TU and EX have been stingier with the bumps.


Just based on what I've read on this forum, people with CH7 seem to reach 700 alot faster.  So it can happen for you as well!  What actions are you taking to get there?

Message 7 of 13
Community Leader
Valued Contributor

Re: CH13 and a 700 Score - Is it possible?

Experian is my highest score right now at 676. My 13 was discharged in September. I'm hoping with gardening I will hit 700 before next May, but we shall see.


EQ 679 EXP 700 TU 763
Message 8 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?

I stupidly got 4 Comenity cards. I guess I'm OK with two of them (Meijer and Ulta) but the others are kind of useless to me (Overstock and Victoria's Secret- I've bought something twice from both of them for no more than $30).  I was so hot to rebuild I got impatient and went with the low hanging fruit. It has helped for sure, but they are low limits and no increases on any so far except the OS. Anyway, I got a Capital One Platinum card on Credit Steps with a $3K limit, got it upgraded to a QS, and a small CLI after 3 months of $300 (currently waiting for my Credit Steps increase). I do what we've all done- watch utilization and PIF each month. I also got a car loan through Capital One at 4.24% for 72 months for about $20K- two payments so far on that. Only owe about $6500 on student loans and have a good record with them.

I feel like I've done all I can do right now in terms of getting credit- now it's pay on time and wait. I do plan on getting another major credit card, probably Discover, in the next 6 months or so but i want to be relatively sure I can get it before I apply. I am also planning to buy the house I'm in (renting from my parents) and would be eligible for an FHA loan in October of 2018.

I'd love to know if the bureaus see a difference in Chapter 13 vs. Chapter 7 in scoring and why.


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 9 of 13
Regular Contributor

Re: CH13 and a 700 Score - Is it possible?


kberly69 wrote:

I stupidly got 4 Comenity cards. I guess I'm OK with two of them (Meijer and Ulta) but the others are kind of useless to me (Overstock and Victoria's Secret- I've bought something twice from both of them for no more than $30).  I was so hot to rebuild I got impatient and went with the low hanging fruit. It has helped for sure, but they are low limits and no increases on any so far except the OS. Anyway, I got a Capital One Platinum card on Credit Steps with a $3K limit, got it upgraded to a QS, and a small CLI after 3 months of $300 (currently waiting for my Credit Steps increase). I do what we've all done- watch utilization and PIF each month. I also got a car loan through Capital One at 4.24% for 72 months for about $20K- two payments so far on that. Only owe about $6500 on student loans and have a good record with them.

I feel like I've done all I can do right now in terms of getting credit- now it's pay on time and wait. I do plan on getting another major credit card, probably Discover, in the next 6 months or so but i want to be relatively sure I can get it before I apply. I am also planning to buy the house I'm in (renting from my parents) and would be eligible for an FHA loan in October of 2018.

I'd love to know if the bureaus see a difference in Chapter 13 vs. Chapter 7 in scoring and why.


I think you're in a great position to reach 700 before your BK falls off!  And you're right - all we can do now is pay on time and wait!!

Message 10 of 13