I was discharged 2/15. The reason my scores look as good as they do is because after I filed I started fixing my credit reports right away, making sure everything was reporting correctly, etc. That is definitely your first step. Second, you need 2-3 new credit lines reporting as soon as possible. Its really tough to get credit now, but I managed to get a car, a Fingerhut and a First Premier. I have also joined a credit union and will get a credit card from them some time this year. Good luck on rebuilding.
And a word of caution, don't just start applying anywhere and everywhere. Read these boards, a LOT, and it will help you figure out who to apply for and when.
Starting Score: 11/29/12 TU 527; EQ 565; EX 564 fako - bk7 dc'd 2/15/13
New goal 675
Not to beat a dead horse but DO NOT APPLY EVERYWHERE. These are the only ones you should apply for(But not necessarily all of them) but always remember YMMV. You will start to receive offers in the mail. It is hard to see it in the beginning but your scores will pick up.
1. Capital One(Do the Pre-Authorization NO HARD PULL)
2. First Premier (Fee but good shot at getting approved)
3. Credit One(Same as First Premier)
4. Apple Barclays(Only after you have established credit again)
5. Merrick Bank
Starting Score: TU 477 EQ 533 BK 1/27/2012
I discharged in November. What I've done is to open a secured credit card with my credit union for $500 and that has no annual fees. I can get my deposit back if I cancel and I can ask for it to be unsecured in a year or maybe even less--I think they said at least six months. To me, this was much better than the higher-credit-limit card I was offered through the mail, but that had HEAVY annual fees.
I have also taken out two secured loans to show payment history. I am not sure how much all of this is helping, but my TU is 641 right now, though I just did these secured loans and cc very recently. But the secured loans are very inexpensive, IF you have the money to put down. One of mine is a 12 month loan for $500. When it's all paid off, I will have spent $516, and that's witih the interest and insurance. My other one is for a shorter period, since it was at my second credit union and they didn't do 12 month loans for under $1000.
I had read many times this was a good way to get some good payment history going, but it's early in the game. I'm not sure what my EQ is. My credit union said it was 608 when they pulled it a month or so ago, before setting up my secured card.
(I'm curious, but don't want to drop another $20 just to peek at it. (BTW, for future reference, is there a site to get just your FICO EQ like I did on here to get just my TU FICO? Or is the EQ they advertise on here the real deal and not the FAKOs I'm getting through EX and EQ through their report monitoring?)
This is the only place to buy a real EQ Fico
Went on and got it; thanks!
Well, if my credit union was accurate when they said 608 pulling EQ, my EQ is now 640, barely a month later. The only difference in my current report from a month or so ago is my secured cc and two secured loans. My EX FAKO jumped 30 or 40 points this month as well, all at once, for what little that's worth. My hunch is it's the opening of new lines of credit and my first payments maybe showing up. But get other people's advice. I'm new at this and maybe there's just some magic beans fertiilzed under all the garbage in my history.