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

New Member

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

Thank you, I actually called pioneer federal on friday and started the process to open an account with them and talked to them about the credit builder loan.

Message 191 of 1,839
Frequent Contributor

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

Update!

 

This week: EQ 712 TU: 698 EX: Uknown

 

 

Barclays CLI-500 CLI to 1500. (HP)

Discover CLI-1k_5K (Required recon) (HP)

Capone CLI-1.5K-2.5K via EO. Converted to quicksilver as well. (SP)

Opened DCU: 5K approved after 1 day online.

 

Util at apps 0.001%. 

 

Not bad folks not bad. Closed my Capone secured as well. 

 

 

 


Starting Score: 501
Current Score: 754 EQ,TU 745,EX 750
Goal Score: 800

Message 192 of 1,839
Community Leader
Senior Contributor

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

Great job shols!! Congrats I am sooooo jealous of your discover Smiley Happy Congrats and thank you for your contribution to the boards!!
Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 193 of 1,839
Established Contributor

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

Shols,

 

Congratulations on those scores!!!!

Message 194 of 1,839
Established Member

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

First off I want to thank SoulMaster for putting this guide together.  My discharge was back in July of 2013 and its been about 3 months.  I wasn't sure where to go, what to do, or how to rebuild my credit.  Because of this guide I joined a credit union and now have 2 credit cards under my belt.  Which I have myfico subscription payment on one and the other will be used for small amounts $5-10.  Also, I reaffirmed my car loan which is reporting in good standing.  I was a little scared at first to follow the guide.  But what made my day was my notification popped up stating my FICO score had changed.  About 3 weeks ago it was a 595 now it slowed moved up to a 606.  I know its not a lot, but for someone that didn't have much hope after BK.  This is a great start for me.  Thanks SoulMaster.

Message 195 of 1,839
Community Leader
Senior Contributor

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


Takasniper wrote:

First off I want to thank SoulMaster for putting this guide together.  My discharge was back in July of 2013 and its been about 3 months.  I wasn't sure where to go, what to do, or how to rebuild my credit.  Because of this guide I joined a credit union and now have 2 credit cards under my belt.  Which I have myfico subscription payment on one and the other will be used for small amounts $5-10.  Also, I reaffirmed my car loan which is reporting in good standing.  I was a little scared at first to follow the guide.  But what made my day was my notification popped up stating my FICO score had changed.  About 3 weeks ago it was a 595 now it slowed moved up to a 606.  I know its not a lot, but for someone that didn't have much hope after BK.  This is a great start for me.  Thanks SoulMaster.


Keep doing the right things and following the guide and your score will continue to rise! Congrats

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 196 of 1,839
Valued Member

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

I am going to try to follow these steps and am curious about a couple of things which are different in my situation.

 

First-  I will be burning my Credit One card in my BK.  Will a First Premier cc work the same? 

 

Second-  There is nowhere in Montana that offers a credit builder loan.  So, will a secured loan work here? Or will my student loans work?

 

I'm only looking at the first few steps for right now and not getting ahead of myself in terms of rebuilding.  So, I am sure I will be back with more questions as I move along this process.  I can't express how nice it is to have a place filled with information and with people who are helpful and understanding!! 

Message 197 of 1,839
Established Member

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

Good evening! I have a question about balances.

I believe I have the process correct just not the timeframes/balances

1: clean up report
2: cap one or credit one (how long after discharge? Do I pic every month once statement hits or have a small balance?)

3: credit builder loan (how long after discharge? How long after getting 1st credit card?


Thank u so much!!
Message 198 of 1,839
Established Member

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

Was supposed to say do I PIF not pic
Message 199 of 1,839
Community Leader
Senior Contributor

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


tham928 wrote:
Good evening! I have a question about balances.

I believe I have the process correct just not the timeframes/balances

1: clean up report
2: cap one or credit one (how long after discharge? Do I pic every month once statement hits or have a small balance?)

3: credit builder loan (how long after discharge? How long after getting 1st credit card?


Thank u so much!!

Cap1 one seems to be the more preferred route. You can get your first credit card and the credit builder loan as soon as your reports are clean. Good luck and read through this thread a couple times.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
730 EQ FICO 11/2017
750 TU FICO 11/2017
735 EX FICO 11/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE
Message 200 of 1,839