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Hey folks!
Today is the 1-year anniversary of my BK7 discharge - what a ride!
I've accomplished all the goals I set for myself and then some...I have 3 revolving credit lines >$15k, the highest being $22k...I successfully refinanced my car...I have my first ever 2% rewards card, running through lots of spend and making $$$...I have a $3k emergency fund set aside, earning some pretty decent interest...and I easily qualified for a new apartment (bye-bye slum lord!!) I think I'm ready to say it...
Rebuild Complete!!
So what now?
My current/remaining goals include:
High-end creditors: AMEX and Chase are the long-term targets here...
Buy a house: Another year to go before I can look at FHA, 3 more years for a conventional loan...
Break 700: Crossing my fingers to get there in the next year...
Unless something goes wrong, or I'm tempted to app for something AMAZING, I think I'm in the garden until further notice...but I plan to stick around and contribute, because without this amazing community and the knowledge shared here I'd be NOWHERE near where I am now...it's time to give back
Thank you to EVERYONE who has contributed advice and support!
Congratulations TygerHawke, that's a remarkable first year rebuild!
I started my rebuild slowly, I had limited income and didn't want to get in trouble again. But my rebuild really took off after I found MyFico in 2014, and by then I was 2 years into solid employment with my local county. I hit a milestone today, 6 years 3 month post BK7 discharge, I app'd for the Amex Blue Cash Everyday, approved for a SL of $15k, my highest SL ever!
Question: Does your NFCU CLOC report as an installment loan? I have a great car loan (60 months @1.99%) from a small local CU but they only report to EQ & EX, I need an installment that reports to TU, as I see "lack of recent installment loan" in my TU FICO score negative factors.
@DaveInAZ wrote:Congratulations TygerHawke, that's a remarkable first year rebuild!
I started my rebuild slowly, I had limited income and didn't want to get in trouble again. But my rebuild really took off after I found MyFico in 2014, and by then I was 2 years into solid employment with my local county. I hit a milestone today, 6 years 3 month post BK7 discharge, I app'd for the Amex Blue Cash Everyday, approved for a SL of $15k, my highest SL ever!
@Anonymous: Does your NFCU CLOC report as an installment loan? I have a great car loan (60 months @1.99%) from a small local CU but they only report to EQ & EX, I need an installment that reports to TU, as I see "lack of recent installment loan" in my TU FICO score negative factors.
The CLOC is a revolving credit line and does report that way (it's one of the 3 I mentioned in my post) - If you need a quick installment loan, I recommend the Share-Secured loan technique, using Alliant Credit Union to provide the SSL - I got one for my DW while we didn't have an auto loan reporting, and it worked like a charm - We've since retired the loan and are using Alliant for their 1.05% APY savings account to accumulate our emergency fund...although I hear they also have one of the FOTM rewards cards people are buzzing about as well
@Anonymous wrote:Hey folks!
Today is the 1-year anniversary of my BK7 discharge - what a ride!
I've accomplished all the goals I set for myself and then some...I have 3 revolving credit lines >$15k, the highest being $22k...I successfully refinanced my car...I have my first ever 2% rewards card, running through lots of spend and making $$$...I have a $3k emergency fund set aside, earning some pretty decent interest...and I easily qualified for a new apartment (bye-bye slum lord!!) I think I'm ready to say it...
Rebuild Complete!!
So what now?
My current/remaining goals include:
High-end creditors: AMEX and Chase are the long-term targets here...
Buy a house: Another year to go before I can look at FHA, 3 more years for a conventional loan...
Break 700: Crossing my fingers to get there in the next year...
Unless something goes wrong, or I'm tempted to app for something AMAZING, I think I'm in the garden until further notice...but I plan to stick around and contribute, because without this amazing community and the knowledge shared here I'd be NOWHERE near where I am now...it's time to give back
Thank you to EVERYONE who has contributed advice and support!
Congrats TygerHawke on you credit rebuild. You have created a nice selection of cards with good limits. I know you will continue to grow and do good with credit now. I have learn so much on here in my time rebuilding. Its easy to get caught up in our own shortcomings and ponder where is my big SL or Big Lender , instead of being thankful we found this forum. I would have been in subprime land with crap cards for at least three years if I didnt start using MF and pacing myself. If only I can get a stubborn co-worker to check out MyFico. Again Congrats and keep on pushing!!!
Update time!
Right on schedule, DW got this message from Merrick:
Congratulations! We are pleased to inform you that we have doubled your credit limit to $2,500.
Moving right along...
Congratulations on the strong rebuild, TygerHawke!
Sounds like you've accomplished some great credit goals and also saved up an emergency fund. I think that's a key part of managing credit responisbly and making sure we don't go down the bk route again. It's really encouraging to know others are doing the same thing I am and learn from their journey. Thanks for sharing your story with us!
Great job Tyger! You have done an amazing job in such a short time. Keep up the hard work and you will crush those goals in no time.
Update time!
Seeing that my 90 days with PenFed will be up soon, I decided to apply for a CLI - instant approval to $7,000
It's growing slowly, but growing...hard to complain when I'm actually carrying a balance and not optimizing *shrug*
@Anonymous wrote:Update time!
Seeing that my 90 days with PenFed will be up soon, I decided to apply for a CLI - instant approval to $7,000
It's growing slowly, but growing...hard to complain when I'm actually carrying a balance and not optimizing *shrug*
Nice!!!
Are increases < 90 days a thing with them?