Hola,
First time posting but have been reading up on various posts around here for a little bit now. So as subject states, looking to get some advice on rebuiling. I have made some mistakes and have been naive, even post BK, which is regretable, but have made decent choices the past 3 years and have been pretty lucky employment wise to be working in a high paying/low competition field so income has greatly improved since then($60k --> $115k). I seem to be in that realm of getting some credit, but very low limits(understandably) and am nervous about being stuck there. I believe I just need to work with what I got and establish longer revolving credit history. I have current banking(no loan products) with both NFCU and Penfed so I would like to eventually leverage both of those.
I did try applying for a Go Rewards CC from NFCU but received a 24 hour message, then was denied a few hours later. I tried SM with some explanation and send POI but they did respond back this morning that they are sticking with original decision, income was not the issue, look for the letter in the mail. So of course I will look to address what that letter points to as well. Not going to bother trying to apply for anything with Penfed for a while, I started that account maybe 10 years ago or so and forgot all about it but have read some good things on them and NFCU.
Here's what I have:
Discover IT(secured) -$300 limit - $0 balance, have used it and was a little over 30% UTL but just paid balance off a few weeks ago - Openned 2/17
Cap1 Platinum- $500 limit - ~$45 balance on that, was a little over 50% UTL and paid down over the past month or two - Openned 9/17
Cap1 QS1- $300 limit - $0 balance, just got that a few weeks ago, was hoping Cap1 would be a little more generous -Openned 1/18
Credit One(I know) Platinum- $450 - $0 balance - Openned 5/17
All CCs are current, never late and always paid at least twice the minimum, sometimes multiple times a month.
I have a little less than $20,000 in student loans, current(rehabbed) and $28,800 in auto loan(through Cap1) which is also current(never late).
Credit Scores(not sure if these are useful references or not)
Using Discover ITs Fico 8 - 615
Total Accounts- 14
Length of Credit - 10 years
Inquires(12 months)- 3
Revolving Utl - 32%
Missed Payments - 0 past year 1 in the past 7 years
Using Cap1s Credit Wise
608 (TU?)
On time Payments -100%
Oldest Credit Line - 11 years
Credit Used- 22%
Recent Inquires - 8 in 2 years
New Accounts - 7 in 2 years
Available Credit - $973
Derogs-
I have a Chapter 7 reporting, discharged 2/11, report say it will come off Oct 2020
I have 3 CC accounts in collections with Portfolio Recovery, last payment dates for all three are ~ March 2015
Texas Guarentee - Rehabbed student, marked as paid, closed
Target - Marked as paid, written off
Obviously, these are not great, but I have had clean history for about 3 years. Just looking to see what the right answer is to continue to improve. Certainly with time in getting the BK/collections off report, but do I have to wait until then to start thinking of trying again with NFCU or Penfed so I can work on getting high limits? I don't need the credit, but would like to use it as a tool to continue to improve. My goal is to get my scores to ~720-750.
Any other advice is greatly appreciated. I hope you liked novels.
