Credit Card Center Advertiser Disclosure

New Contributor
Posts: 69
Registered: ‎07-31-2007
0 Kudos

Raising FICO score after chapter 13 discharge

I completed a chapter 13 Debt repayment plan and was discharged 7 months ago. My FICO score is 552 and I am trying to determine the best way to increase it in a timely fashion. Since my discharge i have obtained a secured Mastercard with a 500.00 limit and use it frequently and pay at least 100.00 on it each month. I also just bought a nearly new car hoping that a stable payment history on such a purchase will help. am i doing the right type of things to better my score? Just before my chapter 13 discharge my score was 560 and for some reason has dropped to the above mentioned 552.. thanks in advance for any suggestions or advise.
Posts: 19
Registered: ‎04-17-2007
0 Kudos

Re: Raising FICO score after chapter 13 discharge

Paying $100 every month is ok, but the objective is to have the utilization down below 10% when they report to the cb every month. That installment was a good thing also, but it doesn't help score wise until 6-12 months of consecutive payments. I have learned that revolving accounts that are kept with a low balance help credit scores the most.  For "now" try "Unsecured Orchard", "Crown Jewlers", "Hooters Mastercard", Just my two cents though. Good luck!

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. 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.