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HOW TO: From BK7 discharge to 700 in 24 months or less!

New Visitor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

I need some help while I am rebuilding my credit. Doing well so far -credit looks goog (discharged  a little over a year CH7)

I got Creditone first and i am on my 11th month and about to cancell it

I got Installment /loan for 1000 at the credit union and it will mature soon

I got Capitalone and last month i got credit increase - however i didnt understand the PIF before statement cuts and leave 10$ step So

now the statement is already cut and i was going to pay it in full

What should I do next??

I burned discover in my BK

 

& I have one varable - 5 months ago i did a credit inquary for a iphone i needed to buy and was approved ...

my score is improving thanks for this forum

Message 1801 of 1,845
Established Member

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

 
Message 1802 of 1,845
Regular Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


Me_too wrote:

I need some help while I am rebuilding my credit. Doing well so far -credit looks goog (discharged  a little over a year CH7)

I got Creditone first and i am on my 11th month and about to cancell it

I got Installment /loan for 1000 at the credit union and it will mature soon

I got Capitalone and last month i got credit increase - however i didnt understand the PIF before statement cuts and leave 10$ step So

now the statement is already cut and i was going to pay it in full

What should I do next??

I burned discover in my BK

 

& I have one varable - 5 months ago i did a credit inquary for a iphone i needed to buy and was approved ...

my score is improving thanks for this forum


So you only have 2 cards ? Are your scores good enough for the next cards recommended in the steps ? What are your limits on the cards you have ? Are you eligible for Navy ? If your eq is over 650, you can app with Penfed.


BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
11/17 ~ EX: 646; TU: 650; EQ: 639
Message 1803 of 1,845
Valued Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Just curious -- which scoring system won't let you piggyback anymore with AU accounts?  Is this a change with FICO 9?   I've been out of the loop for a while.   AU accounts certainly do let you piggyback with FICO 08 and previous versions.   I'm living proof of that.

FICO 08: EX-690, EQ-707, TU-697 - [9/19/2017]
FICO 04: EX-684, EQ-681, TU-724 - [9/5/2016]
NFCU NavChk 15K | NFCU Visa 6.99% 25K | CapOne 43K | CapOne 7K | Barclay Aviator 9.5K | Discover 19K | BECU Visa 10K | BECU PLOC 2.5K | DCU 7.5K | BofA 5K | Citibank secured 1K | CareCredit 10K | Lowes 10K | Amazon Prime 10K ***
173K Total Revolving
BK 7 Filed 8/23/2013 - Discharged 11/27/2013.
Message 1804 of 1,845
New Visitor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Ok its me again i judt had to sign up again sinve i fogot my passcode

Anyway - yes I have 2 cards = one is limit 750 and the capital one  is $3500 , I dont have Navy U but i have NV credit union

My score seems to show 643 on the credit one card. Credit wise on Capital One shows 704 - not sure which o9ne is correct

I have no other ways to look at my score

So first i will cancel the credit one - is reporting zero lately and i dont want to p[ay annual fee

 

Besides that not sure what to do . What is penfed? would i be able to apply for the apple card

Message 1805 of 1,845
Regular Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


Me_too1 wrote:

Ok its me again i judt had to sign up again sinve i fogot my passcode

Anyway - yes I have 2 cards = one is limit 750 and the capital one  is $3500 , I dont have Navy U but i have NV credit union

My score seems to show 643 on the credit one card. Credit wise on Capital One shows 704 - not sure which o9ne is correct

I have no other ways to look at my score

So first i will cancel the credit one - is reporting zero lately and i dont want to p[ay annual fee

 

Besides that not sure what to do . What is penfed? would i be able to apply for the apple card


I would get a free trial from credit check total so you can see what your actual fico 8 scores are for each agency. Most companies will approve you only with a certain score and only pull a certain cra. The original post suggests you app for Discover and Barclays. I didn't get approved when I apped for them. I have learned that it is better to know my score before I app. I also find out which cra is used and what their score expectation is from the card. All that info is in these forums.

 

You have a really good starting limit with Cap 1. After you check your scores on CCT, if your equifax is over 650, I would go to Pentagon Federal Credit Union's website and open an account. It is $5 to open and you make a $17 donation to one of their supported charities. You can do all this online. Then apply for one of their credit cards. The Promise card is the easiest to get. When you open the account, they pull EQ fico 9 and within your first 90 days, they will not pull a report if you app for another card. Once you get a card from them, they will give you your score fico 9 score for free every other month.

 

Navy Federal Credit Union is another bk friendly credit union. But you have to qualify to become a member so if you are a veteran or have a family member who is already a member, you can join. They also pull EQ fico 9.


BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
11/17 ~ EX: 646; TU: 650; EQ: 639
Message 1806 of 1,845
New Visitor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Checked my scores on Credit Check Total and they are 671 Experian, 639 Transunion and 674 Equifax - so please advice . Also should i cancel CreditOne - i have 2 weeks before they charge anual fee... or do i wait until i after i apply for new Card. No access to Navy Union

Message 1807 of 1,845
Regular Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


Me_too1 wrote:

Checked my scores on Credit Check Total and they are 671 Experian, 639 Transunion and 674 Equifax - so please advice . Also should i cancel CreditOne - i have 2 weeks before they charge anual fee... or do i wait until i after i apply for new Card. No access to Navy Union


Your scores are good enough to get better cards. I would cancel Credit one and give penfed a try. Good luck !


BK7 Discharge 1/16
10/15 ~ EQ: 406; TU: 520
11/17 ~ EX: 646; TU: 650; EQ: 639
Message 1808 of 1,845
Frequent Contributor

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

My husband was approved for Penfed power cash today just 2 months post BK7 after a recon email. His score as per penfed risk based score report is 655 Eq.

QS 7K | Disc11.5k | Amex Evday 6.9K | AmexBluCsh 20K| NFCU cashrewrds15.5K | NFCU more rewards amex 9.7K|Penfed cshrewrds 5K | Penfed travel Amex 5K|Consumers Cu Visa signature Cash rebate 6.5K | Blispay 2K| Citi Sim 8.5K|Citi Double cash 7.1k| Chase Aarp 4.2K | Chase amazon prime vis sig 8K | Paypal 2% Cash back 300$ | US Bank Cash+VisaSig 1k | US bankAmex 500$ | Walmart MC 10K | Wellsfargo cashwise 1.5K |2nd Disc 3.5K| Amz Store CC 5K | Care credit 5.5K |Marvel MC 5.5K |Good yearCC 2.4k - Over 150k CL all together

FICO SCORES- TU 737, EQ 710, EX 729 , AAOA 1 year. Inquiries TONS.
Message 1809 of 1,845
New Member

Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

So I was discharged in June of 2017 and applied for the Capitol One Quicksilver One and was approved in July. My CL is $1000 and I recently asked for a cli and got bumped up to $1100. I'm in credit steps so I will get another increase in a few months.

 

I have a credit builder loan for $1000 which I started last month because I had student loans and wasn't going to get another installment loan, but I elected to put my student loans in forbearance since I'll be going back to school in a few months instead of paying those down and I wanted to be putting money in savings(technically) because of the credit builder loan.

 

So right now I only have:

 

Capitol One Quicksilver One $1100

Credit Builder loan $1000

 

I also made the mistake of consolidating my student loans after bankruptcy and that dropped my credit score by over 50 points <.< I'm now sitting at 570ish because of that.

 

I read in the guide that I don't need to get the credit one card because I was able to get the capitol one card. What should I do now?

Should I just keep using my capitol one card and paying in full every month? Should I apply for a second credit card? If so, with who? Should I wait until a year with capitol one before trying Discover and Barclays?

 

Not sure what to do at this point -_-. I'm new to all this so it would be appreciated with some sore of guidance!

 

I'm also a Web Developer and need to buy a new computer so I can finish work at my house.(I also do graphic design) Would there be any chance of me getting a newegg card or the amazon card so I can purchase a new computer and take advantage of the financing options? What are the persk of the newegg card vs the amazon store card or the amazon visa?

 

 

Thanks so much Smiley Happy

Message 1810 of 1,845