@Anonymous wrote:
Hello,
new here and just found this site. My name is Janet..(Jevillains is wrong..suppose to be jdvillains)... So, I had filed a bankruptcy 6/7 years ago, and I'm used to paying cash. About 4 months ago I got a capital one credit card...$300 CL. I have been for the most part doing 1/3 of the card, and been paying in full making payments when I get my pay.
well, I have been making sure to pay all my utilizes etc monthly on time, and on July 28th without even trying, I managed to get a car loan for $35,000 dollars to get my Dodge Ram truck. I have to admit I am still in shock over this one! Now, the other day in the mail I got a pre-approval from Walmart. I've been careful who to apply to being I do not want any HI on my credit. It was 4 am, I said what the hell.....I was approved said card will be here in 7-10 days. This is totally freaking me out. Does this seem like I am starting to turn my credit around? And I am afraid, this is my last chance to keep my credit going forward. I can afford the cards I have now.....and my truck. But I do have a spending issue, and I really do not want to screw this up, I'm 55!
i do however have big student loans......I'm a grad student and I do work at a university ..the loan people told me keep going to school till I hit 65.not sure why.... But I'm a little stuck. Any advice how to make sure I can keep on the straight and narrow? Student loans?... I should say I am on disability, and work part time.
thanks for any help!
~J
Janet, so now you have 1 installment loan, and 2 credit cards,,,,that is enough for you to get a good start. Pay the car on time every month. Take one of the cards with the lowest cl and put it in your sock drawer and keep it at a 0 balance. Use the other card as needed, but pay the balance on it down to <9% of the credit limit prior to the statement cutting. Now wait untill 2 days before due date and PIF. All this is to show card use, but not allow anything but very low utilization showing when it reports.In about 3 months ask for CLI on both cards. In about 3 more months apply for a better credit card...maybe capital one quicksilver rewards...not the one with annual fee. Repeat with what I would hope will then be your new highest cl card, leaving the other 2 with zero balance. Keep low utilization low on the highest credit limit card for about 6 more months. Now your credit score should be high enough to get more desirable cards such as citi double cash. I do not know when the BK falls off because you never said if ch 7 or ch 13....but if you are careful you could have mid to high 700's scores the day the BK drops off...maybe 750-780.
TU fico08=812 07/16/23
EX fico08=809 07/16/23
EQ fico09=812 07/16/23
EX fico09=821 07/16/23
EQ fico bankcard08=832 07/16/23
TU Fico Bankcard 08=840 07/16/23
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
