I read the “How To” on raising your score to 700 in two years post BK. I burned a couple of the recommended cards to start that process so my journey may be just a little different.
Here’s the nitty gritty:
Bk Filed (pro per) 7/24/15
Discharged 10/29/15
No collections.
No judgments.
FICO Scores (from MyFico) as of 11/4/15: EQ 602 EX 570 TU 556
The bad:
On all three reports Barclay’s, Macy’s, Credit First, Target, Credit Union West (auto loan), and NFCU CC (saddest part of all), are reporting as IIB. Barclay’s is still listing a balance and past due on TU. It’s currently being disputed. EX is double reporting the NFCU CC account with the dupe reporting a past due balance – dispute in process with EX. EX is also reporting an IIB WalmartDiscover account that the others are not reporting. My Navient Student Loan is still reporting as IIB – never late (working on updating that).
The good:
Open accounts that survived the BK – Military Star Card ($8,200 CL).
Positive closed accounts (no late payments, ever and not in BK): Jareds CC, Gordons CC, Care Credit, Walmart, Fingerhut, Best Buy, Cap1 Nautilus, Tribute CC, 3 Cap1 CC’s (old HSBC cards), 3 Sallie Mae student loans, Vantage West Credit Union Auto loan, NFCU CLOC, NFCU Auto loan, NMAC Auto Loan, Wells Fargo Auto loan. Transunion is reporting one additional Cap 1 account closed in good standing (Old HSBC) and 4 student loan accounts with Southwest Student Services.
The funny: I had another Best Buy Card and Care Credit that did have balances at the time of my filing that were included in my BK. But, they are not reporting at all. I also had JC Penny and RoomStore cards that were included in my BK and they’re not reporting either. And my IIB WalmartDiscover card is only reporting on Experian. Not complaining, but weird, right?
The rebuild: I app’d for Cap1 and was approved for two Cap 1 cards, both with $2,000 CLs. My EQ at the time was 613 and it dropped with the inquiry from Cap1 to 602. I’m not sure was TU and EX were at the time of app’ing. When I first applied I got the 7-10 day message. I assumed I app’d too soon and scores were too low so I did not call and recon. A couple days later, I received two separate emails approving me for the cards. Yeah, I had to pick my jaw up off the floor.
There’s not much for me to try and Goodwill off my reports (I’ll still try of course, lol). The DOFD on all of the baddies is approximately 3 years ago, so those are almost halfway to being gone too. Overall, I don’t think I’m in too bad of shape report wise for my starting point, considering. Scores aren’t the greatest but I supposed they could also be much worse. I burned Barclay’s and NFCU, very depressing. My plan is to try with Barclays in about a year from now, after a year’s worth of positive history with Cap 1 with, hopefully, growing credit lines. Getting the suggested personal installment loan isn’t necessary because I’ve got the student loans that will start reporting positively. I won’t need to apply for anything over the next year other than the third revolver so inquiry wise, I should be good. I’m currently making the payments on a car I’m taking over for my mom, so I might try and refinance that loan into my name in about 6 months, still undecided about that though.
Or, maybe at the 6-month mark for Barcaly’s instead of a year?
Would Barclays be the better card to try for or Discover It? I ask because I did burn a Walmart Discover so I’m a little leary about app’ing for Discover.
Any other tips or suggestions I might be missing? TIA.
Thanks Cruznmore. I'm interested in another revolver simply becuase the Military Star card that survived the BK is pretty much a dead stick for me. I opened that when married and my husband was the one in the military. That husband is now an exhubby and I no longer have a military affiliation and I can't use that card anywhere. I actually haven't charged anything on it for about two years and am surprised they haven't closed it already for non use. Maybe it's a military thing where they give the cardholders more leeway on usage??
I was hoping to get that third card in the first 6 months to a year so the new accounts can pretty much all age together. Hmmm, might have to rethink what that third card is now. Maybe a store card a few months down the road.
I wish I could. What I owe them for is a credit card for my exhubby to the tune of $16,000. If I ever collect it from him I'll definitely pay it back. Better chance at winning the lottery. Haha.
Good to know about the military star card though. If I ever come up with $16,000 I'll glady pay NFCU back via personal hand-delivery! They were excellent to bank with and I had other positive history with them too. 
Thank you!
I tried using it for a small purchase online last year and my login creditianls no longer worked. I think since I'm no longer in DEERS my info is no good. And that's fine. I think I used the card once since I've had it and it was for Under Armour shirts that were sent overseas. Lol. If it stays open, great, it's not a bad credit limit for a card I've used once. 