Reply
Frequent Contributor
Posts: 265
Registered: ‎06-12-2007
0

Question for experts on scores

I'm in the rebuilding stage for my credit, due to a discharged bk that was filed Oct 2005.  Since then, I have 1 major credit card and 2 department store cards that I applied for this week.  I have my major credit card paid down to 3% utilization and no balances on the department store cards.  What would you recommend that my next step be as far as applying for credit?  My car is paid off and I am going to try and refinance a mortgage that is in my ex-husbands name only.  I received the home as part of the divorce settlement, but have to refi in my name.  What would you do next?
Moderator Emerita
Posts: 28,098
Registered: ‎04-01-2007
0

Re: Question for experts on scores



sunnyday wrote:
I'm in the rebuilding stage for my credit, due to a discharged bk that was filed Oct 2005. Since then, I have 1 major credit card and 2 department store cards that I applied for this week. I have my major credit card paid down to 3% utilization and no balances on the department store cards. What would you recommend that my next step be as far as applying for credit? My car is paid off and I am going to try and refinance a mortgage that is in my ex-husbands name only. I received the home as part of the divorce settlement, but have to refi in my name. What would you do next?



Where are your FICO scores now, and what positives (on EQ and TU) and negatives (on all 3) do you get on screen 2 of your reports?

Play with the sims on EQ and TU, slide down lower on that screen, and see what happens if you click "apply for a mortgage" and some of the other options. Often for those with thin files (not many accounts), you'll find that it helps to add a mortgage and possibly a loan. But don't get a loan if you don't need one! It's just an interesting indication of what might help you out.

Is the BK your only baddie? What baddies are part of the BK? (lates, CO's, etc.)
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
0

Re: Question for experts on scores

I agree with HTSU. How are your reports looking aside from the BK? How long do you have until you are planning on refinancing? How is your account history with your current cards? Did you keep any of them through your BK?
Here we go again...
Frequent Contributor
Posts: 265
Registered: ‎06-12-2007
0

Re: Question for experts on scores

I have not gotten my scores in quite some time.  I have been trying to wait until HSBC reports.  I just paid my credit card down about 3 weeks ago.  I did not keep any credit cards from my BK.  I went through a divorce and got the house as a settlement but like I said, I have to refi as part of the package.  I have managed to get 3 credit cards since the BK, 1 major and 2 department stores. The mortgage has never been in my name, just the deed to the house and after the divorce, I have no option.  I must get the house refinanced in my name within 2 months.  This is why, I paid down my credit card that had a high balance.  It is now down to 3% utilization. There is no balance on the other 2 cards.  There are 2 student loans that I cosigned for that each have 60 day lates back in Sept of last year, but are current now.  I have 1 other collection for something that isn't mine and I disputed but Experian will not delete.  I was just wondering if there is anything else that I can do to bump up my scores.
Regular Contributor
Posts: 134
Registered: ‎05-07-2008
0

Re: Question for experts on scores

Go subscribe to scorewatch. It will tell you your EQ score. That will give you an idea of where are currently are with your situation. Along with scorewatch comes the FICO Simulator. This will tell you what your score would change to within a range if you applied for x card or mortgage, or x credit card etc. That should be your first step. You also get 1 more free pull of your score later.
Score Watch: EQ 767 (6/30/09)
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.