Re: HOW TO: From BK7 discharge to 700 in 24 months or less!
06-10-2012 08:36 AM
Wish I would have read this a week ago . I will be discharged shortly from a chp 13 so I am just now starting the rebuilding process. I will implement some of the strategies you've listed for myself. I received a pre-approved offer from Credit One Bank for a $400 limit. I haven't recieved the card yet but after reading around here I'm wondering if I should cancel it? The reason I ask is because I am getting a secured card from a CU with a limit of $1500 to $2000 (not yet decided) in a week or so. Will that look not so good to have a much higher limit for one major CC than the other? I mean is there a FICO penalty for that? The CU reports to all 3 CRA's, doesn't report as secured and they don't require a credit check so that fit like a glove for me. No HP to knock my scores down.
Secondly I recieved a credit card from WFNNB (the avenue) for $150 as well and it was a soft pull on EQ. I actually just signed up on the website for a catalog, put a few items in my shopping cart that totalled about $40 and the next thing I knew a pre-approved offer showed up so I took it.
As for the strategy that you have laid out, well I IIB Capital One and Household so I don't think they will be too happy to see me coming. So I will have to alter my strategy a bit and find another source. I think that Barclays would be a good choice a year from now so I shall see.
In the meantime I will get to working on my reports because I have a few baddies that are reporting incorrectly. Personally my goal is removal of the TL and not correction, but if I can't get removal then ultimately they need to report right. The thing is most of the baddies are set to be removed no later than March of 2013 . Considering that I have been in a chp 13 for 63 months now, March doesn't seem like that long at all for me. It's amazing how much patience I have acquired over the last 5 years
Starting Scores: EX 722 (USAA), TU 637 (Walmart), EQ 706 (myFico)
April Scores: EX 722 (USAA), TU 669 (Walmart), EQ 705 (DCU)
Goal Scores: 750 across the board
Emergency gardening mode~~Last app: 4/8/2013