Next steps for me?

[Grover627]

I posted this in the rebuilding credit forum. When I didn't get any response, I figured I would  throw it out here as well. I am hoping for some advice, Thanks in advance!

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

[Grover627]

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

[myjourney]

---

@Grover627 wrote:

I posted this in the rebuilding credit forum. When I didn't get any response, I figured I would  throw it out here as well. I am hoping for some advice, Thanks in advance!

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

---

This sounds like a well thought and carefully considered plan IMHO execute your plan its solid

[myjourney]

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

[thom02099]

---

@myjourney wrote:

---

@Grover627 wrote:

I posted this in the rebuilding credit forum. When I didn't get any response, I figured I would  throw it out here as well. I am hoping for some advice, Thanks in advance!

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

---

This sounds like a well thought and carefully considered plan IMHO execute your plan its solid

---

+1 to this being a well thought out plan.  You've obviously been reading and learning !   And getting those cards you got with the circumstances you described is admirable.  YOU should actually be giving others advice as to how to do it!  Be patient, TIME is your ally now.  Execute your plan and watch that goal of 700s become a reality. 

ONWARD AND UPWARD ! ! !

[thom02099]

Hi all-

I wanted to give you all a look at my recent credit history and ask for some advice as to what my next steps should be. For starters, I went through a divorce last year, along with a chapter 7 bankruptcy, that was discharged in April, 2012. At the time, my credit scores were in the 530's. It was time for a fresh start...

In June, 2012, I was able to get an unsecured Cap. One CC with a $2000 line of credit. In December, 2012, Cap. One increased the CL to $2500 with the credit steps program. My usage has fluctuated to near 100% at a couple of points, but I have paid this down. I have made all payments on time and currently have a $0 balance. $2500 is where my CL stands with them today.

In October, 2012, I got an auto loan for a new car at 10%. I made all payments on time, and in June, 2013, I refinanced my auto loan with DCU for 1.99%.

In November of 2012, I responded to a pre-approval with Credit One, and received a CC with a $400 balance. In January of 2013, they gave me a $150 increase to my CL, bringing it to $550. It has remained the same to date. I currently have a $0 balance with them. Just today, I applied for a CLI with Credit One and was denied.

In June, 2013, I applied for, and was approved for CC's with $700 at Merrick Bank, $500 with a new card at Cap. One, and $500 at DCU. I currently have about $100 balance on the Merrick card, and $0 balances on the Cap. One and DCU cards.

This week, I applied for a Barclays reward card, and after using the recon, was approved for $1500. I haven't received the card yet.

Also this week, I sent an EO email to Cap. One asking for a CLI on my oldest card. I haven't heard back from them yet.

My current FICO scores range from 640 to 681- not great, but certainly much better than last year!

I am thinking of doing the following:

* Wait to hear back from Cap. One EO about the CLI. If they increase it, terrific. If not, let my Cap. One cards age.

* Cancel my Credit One card. It is only a $550 CL, and since I have close to $6000 of available credit right now, shouldn't hurt me too much. The fees and APR are ridiculous. I needed them to help me raise my FICO score, and they certainly helped with that, but it is time to move on.

* Let all of my other cards age, keep the utilization to less than 10%, and pay all balances in full, or as close to full as possible.

My goal is to try and get my FICO scores into the 700's by next year. When I am 2+ years out from the Ch. 7, I hope to be able to qualify for a mortgage and become a home owner.

So now I am reaching out to all of you. Am I on the right track? Is there more I can, or should do?

Thanks to all of you for your valuable input!

[Grover627]

Thanks so much for taking the time to give me this reassurance. It is great to hear that overall I seem to be on the right track! I actually pulled the trigger and cancelled my Credit One card yesterday. I figure that even if I take a CS hit in the short term, I will be better off without the monthly fees, high APR's, and low credit limits.