Reply
Valued Member
Posts: 47
Registered: ‎04-04-2008
0

Rebuilding slowly credit

I'm 64, just off a fresh bankruptcy. Retired nurse. I wanted to see what my scores would be like. I wasn't surprised. I haven't established any new debts to get my credit going. Others have told me to buy a car, but that's not something I want right  now.  I don't wish to open too many revolving accounts. What other way can I get going without getting into trouble?

 

Would going back to school to train for a career and getting a loan be a wise thing or is this a bad idea? 

 

Rather nervous in stepping into the arena again. 

 

 

Epic Contributor
Posts: 23,287
Registered: ‎10-23-2007
0

Re: Rebuilding slowly credit

I would suggest a couple small credit cards.

Best Buy MC has been a top pick lately

Cap1-check the pre-qual, I would not apply if your not offered something

 

A secured card would be another great option.

 

you probably need to establish yourself with a couple of accounts before you could even get school loans.

 

Have you pulled at least one of your reports from here at myfico.

 

Make sure all your accounts are reported correctly from the bk, they should all say IIB(included in bankruptcy) with a $0 reported.

I would not buy a car unless you had no other choice... with no established credit if you could even be approved you would probably be over 20%

Fico Scores: EQ- 668 DCU., TU 704 Best Buy, EX 700 Chase (2/5/15)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
67 Cards and Counting :smileytongue:
Moderator
Posts: 15,143
Registered: ‎07-14-2009
0

Re: Rebuilding slowly credit


maggie88 wrote:

I'm 64, just off a fresh bankruptcy. Retired nurse. I wanted to see what my scores would be like. I wasn't surprised. I haven't established any new debts to get my credit going. Others have told me to buy a car, but that's not something I want right  now.  I don't wish to open too many revolving accounts. What other way can I get going without getting into trouble?

 

Would going back to school to train for a career and getting a loan be a wise thing or is this a bad idea? 

 

Rather nervous in stepping into the arena again. 

 

 


This is strictly my opinion but you don't have to do anything for awhile. Take some time off and don't even think about credit. Go out and enjoy life for a few months and then start to repair and rebuild.

 

The last thing you want to do right now (again just my view) is look at any new debt. At some point in the future you might begin thinking about trying to get a couple of credit cards but do your research first and don't apply for cards just because you can. Apply for cards that can actually help you.

 

Good luck in your journey forward.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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 based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.