1 year post Chapter 7 filing update

[WildestDreams]

There is hope guys! I filed Chapter 7 The first week of August of last year, discharged in December.

Scores were 598, 527, 568 right after filing and 614, 645, 610 at discharge. These are as of today! not amazing but also YAY I will take it!!!

I didn't do anythings special? I have a good mix of account types I think that helps me. I probably over did it overall but I canno't change that, sharing some data points for others.

I know opened too many credit cards, I'd say its hurting me but I'm not sure my scores could or would even be much better if I had 2 less cards open.

Credit Cards

Credit One opened Oct 2022 (before discharge, laywer recommened) $1500 limit, CLI $1700 May 2023 - I regret this one, should close soon

Capial One  Quicksilver (converted to SavorOne) opened Nov 2022 (before discharge, laywer recommened) 3k limit, CLI to 3500$ in May 2023

Mission Lane opened Nov 2022 (before discharge, laywer recommened) 2k limit, CLI $2100 June 2023

Merrick opened January 2023 - 1250$ limit - supposed to CLI this month to $2500

Ally opened January 2023 - 1k limit, CLI to 1900$ in July

Mercury Card opened in January 2023 -  3k limit, CLI to 4K in July

Ave/Bloom opened May 2023 - this is not a actual CC but reports a $2500 limit

Wsfs Unicorn opened May 2023 - this is not a actual CC but reports a $1500 limit

Highest my utilization reported was 28% - Typically it has been under 10% monthly

I also have an auto loan - I originally got one the day after discharge at 12.75% through Capital One. I had to get a new one In July (long story) BUT luckly for me the rate went down to 9.49%!

Also I have student loans reporting, both private and federal

and finally...

Credit Inquiries

Equifax - 2

Experian - 4

TransUnion - 8 (Eeeek!)

Not sure this really helps anyone but I wanted to share and show that here is hope! for decent scores within a year, yay!

[RebuildingAgain2021]

Thank you for posting! My CH 7 was discharged around 9 days ago. This gives me hope!

I was approved for a Capital One card, which I am grateful for as I burned them in my BK. I am aiming for three cards to have reporting positive.

Are there any other starter cards you would recommended that I may have a chance at getting? I would like to stay away from annual fees if it all possible!

[WildestDreams]

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@RebuildingAgain2021 wrote:

Thank you for posting! My CH 7 was discharged around 9 days ago. This gives me hope!

I was approved for a Capital One card, which I am grateful for as I burned them in my BK. I am aiming for three cards to have reporting positive.

Are there any other starter cards you would recommended that I may have a chance at getting? I would like to stay away from annual fees if it all possible!

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Woo hoo! Congrats! 

Ally and Mission Lane are decent with no fees!

Do you have an experian account, the free one? I think that is where I got Ally and Mission Lane offers which I beleive are both invite only

[RebuildingAgain2021]

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@WildestDreams wrote:

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@RebuildingAgain2021 wrote:

Thank you for posting! My CH 7 was discharged around 9 days ago. This gives me hope!

I was approved for a Capital One card, which I am grateful for as I burned them in my BK. I am aiming for three cards to have reporting positive.

Are there any other starter cards you would recommended that I may have a chance at getting? I would like to stay away from annual fees if it all possible!

---

Woo hoo! Congrats! 

Ally and Mission Lane are decent with no fees!

Do you have an experian account, the free one? I think that is where I got Ally and Mission Lane offers which I beleive are both invite only

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I do and I will check it as soon as I get home. Maybe they will be there for me too!

[FireMedic1]

Congrats. Your right on track as I was back then. Once 2 yrs gets closer. Then 700 will appear. All you need is the 3 cards and a loan. Way to go!

[uktaurusbulba1]

Mine was July 19th. I was approved already for Mission $2000, Ally $500, and today i got merrick for $1250 . 

[uktaurusbulba1]

I filed in April , discharge July..Got approved for Mission $2k, Ally $500, and Merrick $1250 yesterday. Guess the scores will shoot up quite a bit when these report? Nice work with your reports. Don't think I can get capital one because I burned them. 

[WildestDreams]

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@uktaurusbulba1 wrote:

I filed in April , discharge July..Got approved for Mission $2k, Ally $500, and Merrick $1250 yesterday. Guess the scores will shoot up quite a bit when these report? Nice work with your reports. Don't think I can get capital one because I burned them. 

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Capital One does 'forgive' but the timelines seem to vary for them... have you checked their pre qualifier? 

[masscredit]

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@uktaurusbulba1 wrote:

I filed in April , discharge July..Got approved for Mission $2k, Ally $500, and Merrick $1250 yesterday. Guess the scores will shoot up quite a bit when these report? Nice work with your reports. Don't think I can get capital one because I burned them. 

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I burned Cap 1. Multiple cards, maybe $50K total. I was approved 5 months after DC. Then two more about 7 months after that.

[uktaurusbulba1]

Thanks, did you check the pre qualify tool before applying when you did? I did and says no because of accounts I burned. Just hit one month since dc though.