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Established Contributor
Posts: 956
Registered: ‎04-14-2016

Re: Working my Rebuild! - 1 year later

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 Smiley Happy

 

Thank you to EVERYONE who has contributed advice and support!

 

 






BK7 Discharged 4/27/2016 - Fico 8 as of 05/18/2017: EX 655 / TU 660 / EQ 676 - Follow my Journey Here
Valued Contributor
Posts: 1,374
Registered: ‎09-28-2014

Re: Working my Rebuild! - 1 year later

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. 


FICO Scores: TU 720, EQ 688, EX 688
Established Contributor
Posts: 956
Registered: ‎04-14-2016
0

Re: Working my Rebuild! - 1 year later


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!

 

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. 


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 Smiley Happy






BK7 Discharged 4/27/2016 - Fico 8 as of 05/18/2017: EX 655 / TU 660 / EQ 676 - Follow my Journey Here
Frequent Contributor
Posts: 489
Registered: ‎05-09-2016
0

Re: Working my Rebuild! - 1 year later


TygerHawke 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 Smiley Happy

 

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!!!

Established Contributor
Posts: 956
Registered: ‎04-14-2016
0

Re: Working my Rebuild! - 1 year later

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...






BK7 Discharged 4/27/2016 - Fico 8 as of 05/18/2017: EX 655 / TU 660 / EQ 676 - Follow my Journey Here
Established Member
Posts: 15
Registered: ‎04-20-2016
0

Re: Working my Rebuild! - 1 year later

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!  

BK7 discharged September 2015
Discover IT $4300, Capital One Quiksilver $3300, PenFed Power Cash Rewards $2500, J.Crew Store Card $1500
EQ 660 / TU 650 / EX 674
Credit Goals: 700 score, mortgage ready within 2 years
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Community Leader
Senior Contributor
Posts: 5,107
Registered: ‎07-12-2012
0

Re: Working my Rebuild! - 1 year later

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.

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
732 EQ FICO 05/2017
740 TU FICO 05/2017
735 EX FICO 02/2017
$20k NFCU Platinum | $25k NFCU cashRewards Sig | $15k NavChek | $6.6k Cap1 Quicksilver | $10k Amazon Store | $14k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa

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