I began this process about a year ago, with my first rehab payment on 9/25/12 and my Score Watch at 485. A month later I applied and was accepted for my first credit card in years (Cap 1, unsecurred, $300 credit limit). I successfully finished my 9 monthly payments, and though it took awhile to get picked up I am now with a new lender.
When I finished my rehab my Score Watch was about 620, and I then disputed all of my old student loan tradelines across the 3 bureaus. My score immediately dropped, but in the 30 days that followed 5 of the 7 derogs were either deleted or saw a more complementary note reported. That said, my Score Watch now puts my score at about 640. So, not too much of a gain, but I imagine once my payments of $1,100 a month start reporting and I further distance myself from the difficulties of the past I'll see further increases.
That said, I've been waiting to apply for another credit card (not because I need it, but because I want something else reporting) until the rehab was complete, and yesterday I applied for the Apple Barclay's card and was approved with a $2,000 limit. That made me happy. And, by contrast, my year old Cap 1 account, never late, is stuck at $500 even though my Credit score is now about 160 points higher than when they approved me at $300.
So, a year later, I'm in a much better position, heading up a little every month. The only thing I really wonder about is how on Earth I managed to get a $15,000 credit limit during my 8 years of college, with no income what so ever, and now am esctatic about $2,000 while earning 6 figures...
Keep up the good work everyone!
Travel's fatal to prejudice, bigotry, narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things can't be acquired by vegetating in one little corner of the earth all one's life.
Starting Score April 2013: 556
