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Established Contributor
Posts: 999
Registered: ‎11-08-2011
0

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

Rebuilding,

You might want to put your whole post in another thread. You've got a lot going on that you need answers to that don't necessarily have to do with my original post and require really long answers.

The quick answer to one of your questions is that CHARGE OFF and ACCT TRANSFERRED/SOLD are both 100% valid if the action occurred before your discharge. Those are internal accounting actions and have nothing to do with you owing money. As long as the balances are zero, dispute them once (trying for IIB) then forget about them. I covered this in my OP.

Cheers,

-SM
I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
New Member
Posts: 3
Registered: ‎06-12-2012
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!


somotao wrote:

Hi When I got my card from them it was Unsecured with a credit limit of $500 which went up to750 after about 5 Months or so. I also did the prequalification application, and believe that it will recommend a card even if it is the secured card. I think it is worth using the prequalifier, it leaves no hard pulls on my credit report. It will recommend a card for you to apply for just go with that. Credit limits very some as low as $300 which will increase to $500 after a few months and I have seen some people get $2000 credit limits. I have found it a great rebuilder card. Good Luck.


Thank you for the detailed information, so far I am definitely leaning towards C1.

Member
Posts: 14
Registered: ‎06-13-2012
0

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

Thanks SM.

 

I have it posted as a new thread entirely and no one has responded... I've been browsing through all the boards searching for answers and stumbled upon this, so thought I'd give it a try.  Thanks again, I do appreciate!

Member
Posts: 14
Registered: ‎06-13-2012
0

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

How does this plan change now that Capital One has purchased HSBC's U.S. credit card business?  (HSBC is behind Orchard Bank)

New Contributor
Posts: 52
Registered: ‎06-14-2012
0

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

Soulmaster,

 

I am kind of following your advice. However, I started this process because I got an offer from Capital One 5 months post bankruptcy. That is my first credit card. I then proceeded to open an account at a local credit union and opened a credit builder loan about 2 days ago. So should I be applying for an orchard bank card or stay with the cap1 and apply for the next card in your roadmap? I am afraid of applying, getting denied and lowering my already low scores....

 

Thanks for your help.


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


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Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
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Re: HOW TO: From BK7 discharge to 700 in 24 months or less!

Getting jealous, DW just got a MyFico score update of 662 EQ. That is 2 months after discharge. There is hope Smiley Happy


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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Established Contributor
Posts: 999
Registered: ‎11-08-2011
0

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

Credit_me,

 

If you read above, you'll see that Orchard Bank doesn't exist anymore.  I'm almost done with my research/recommendation on another option and I'm hoping to update the OP this weekend.

 

-SM

I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
New Contributor
Posts: 52
Registered: ‎06-14-2012
0

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

Thanks SM - Looking forward to your update.


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
New Contributor
Posts: 52
Registered: ‎06-14-2012
0

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

SM

 

I ended up applying and getting approved for Credit One Bank card. I will be treating it as my Orchard bank card. Saw mixed reviews on this card but figure I'll close it at 11 months anyways.....


Starting Score: EQ:531 (06/14/12) TU: 578 (06/16/12) EX: 555 (06/23/12)
Current Score: EQ:647 (10/04/12) TU: 621 (08/04/12) EX: 654 (05/15/13) App from CU
Goal Score: 2012 Goal Met. 2013 - 660+ across the board


Take the FICO Fitness Challenge

Rebuilding Tools: Cap1 (750), Credit1 (400), Aspire FCU CBL (1000)
Regular Contributor
Posts: 205
Registered: ‎08-29-2007
0

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

Is it possible to get a 700 before 24 months? Also, is it true that BK filers rebucketed and our scores are compared to others that have filed?

 

Had to bump up my Goal Score, Moving on up Smiley Happy


Starting Score: TU 477 EQ 533 BK 1/27/2012
Current Score: EX 702 TU 681 EQ 652 1/10/2014
Goal Score: 700


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