Ch 7 Discharge in April ---> 678 EX in September!

[Anonymous]

I'm thrilled to report that my score has skyrocketed from 607 on 09/12/14 to 678 on 09/16/14. I know, it's only an Experian PLUS score (membership directly with experian.com allows me to pull my EX report as much as I want). I do have a myFICO membership... I'm stuck at 599 because my new utilization isn't yet factored in with EQ. I paid off my credit cards to a total of $27 balance on total of $1,800 available credit. 

My Ch 7 was discharged in April 2014 and I immediately opened 2 Capital One unsec. cards ($500/$300). Joined NFCU in June opened $1,000 secured card in August. Removed a couple baddies, only have 2 and they're closed/IIB. Felt like I needed to share what I did to be this close to 700 (even though its EX PLUS score) 5 months after discharge. I will post the new FICO when my utilization hits EQ...myFICO ScoreWatch will alert me. I feel like I'm getting closer to the 700 club post-discharge. I just need to stop adding to my 8 inquiries! No more lol.

P.S. 2 of those inquiries were for Capital One Auto Finance. Approved for $18k @ 16.5%...no bueno, but that was before my credit improved. Should I take the hard inquiry for a better rate?

[Scupra]

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@Anonymous wrote:

I'm thrilled to report that my score has skyrocketed from 607 on 09/12/14 to 678 on 09/16/14. I know, it's only an Experian PLUS score (membership directly with experian.com allows me to pull my EX report as much as I want). I do have a myFICO membership... I'm stuck at 599 because my new utilization isn't yet factored in with EQ. I paid off my credit cards to a total of $27 balance on total of $1,800 available credit. 

My Ch 7 was discharged in April 2014 and I immediately opened 2 Capital One unsec. cards ($500/$300). Joined NFCU in June opened $1,000 secured card in August. Removed a couple baddies, only have 2 and they're closed/IIB. Felt like I needed to share what I did to be this close to 700 (even though its EX PLUS score) 5 months after discharge. I will post the new FICO when my utilization hits EQ...myFICO ScoreWatch will alert me. I feel like I'm getting closer to the 700 club post-discharge. I just need to stop adding to my 8 inquiries! No more lol.

@P.S. 2 of those inquiries were for Capital One Auto Finance. Approved for $18k @ 16.5%...no bueno, but that was before my credit improved. Should I take the hard inquiry for a better rate?  After about 6-12 months of payments you should try to refi through NFCU

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Congrats on the progress! Keep up the good work and you will be at that 700 in no time. 

[TRC_WA]

You do realize you are talking about a 678 FAKO score?

[Scupra]

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@TRC_WA wrote:

You do realize you are talking about a 678 FAKO score?

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In OP's defense s/he did say it was a FAKO score..

[TRC_WA]

I was confused. Not to rain on anyone's parade but a 678 FAKO is a lot different than a 678 FICO.

I'd be willing to wager that the OP's EX FICO is a lot closer to their 599 EQ FICO than 678.

A 700 FICO isn't as easy as 1% UTI on $1800 worth of secured/unsecured credit lines following a Ch 7.

[Scupra]

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@TRC_WA wrote:
I was confused. Not to rain on anyone's parade but a 678 FAKO is a lot different than a 678 FICO.

I'd be willing to wager that the OP's EX FICO is a lot closer to their 599 EQ FICO than 678.

A 700 FICO isn't as easy as 1% UTI on $1800 worth of secured/unsecured credit lines following a Ch 7.

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Agreed.. Nor do I think score is important at all only 5 months post d/c. Like you said though, I wasn't trying to rain on the parade haha. I know filing was such a dark time for me and it feels good to see any score increase around that time. Let s/he bask in the glory a bit hahaha..

[TRC_WA]

Yeah no offense OP.  Just trying to save you from the shock were you to pull all 3 FICO scores.

You might be unpleasantly surprised.

Best wishes on the rebuild.

[Scupra]

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@TRC_WA wrote:

Yeah no offense OP.  Just trying to save you from the shock were you to pull all 3 FICO scores.

You might be unpleasantly surprised.

Best wishes on the rebuild.

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Very good warning

[Officer737]

It also depends on what formula the lender uses as well. A recent bank pulled my Eq fico and it was higher by almost 20 points than my myfico score. 

[Scupra]

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@Officer737 wrote:

It also depends on what formula the lender uses as well. A recent bank pulled my Eq fico and it was higher by almost 20 points than my myfico score. 

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Yes, there is too many versions of FICO. I beleive myFICO is now EQ 08 after the recent upgrade.