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450 credit score

SHANNY
Member

450 credit score

How do you bounce back from a current 450 CS and you have already filed for a Chapter 7 in 2012. Moved up to a 630 after discharge and now worse off than I was before.

Starting Score: 487 Pre Chap 7 discharged 8/2012
Current Score: EQ 633 EX 633 TU 655 (USAA) TU 600 EQ 629 (FAKO)
Goal Score: 725


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Message 1 of 9
8 REPLIES 8
DaUsMsB
Contributor

Re: 450 credit score

Your 1st main hurdle....is to clear up anything inaccurate on your credit reports...get this done and you should be approved for some credit cards and starting bouncing back.  This topic didn't directly relate to me...but was VERY helpful.  Start there...it will be a journey...as I'm just starting to see daylight myself...but a whole lot of it!

 

So good luck and keep your chin up!

 

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

 

Message 2 of 9
Andro1984
New Member

Re: 450 credit score

I'm going to tell you real truth, you will not get anything wit a score that low. Good news is it won't always be that way. You have to start somewhere and get all your credit reports together dispute any thing inaccurate on the reports. Capital one secured card, merrick bank secured card, fnb Omaha secured card. Pick one I started out with the same score got those cards from filing BK 7 on 9-30-14 and they were not included in bk. I started with a 450 cs now it 615 Fico. You can do it my bk is not discharged yet got a victory secret cc with 592 score. Believe me I held the record on credit karma for most collection no lie. I'm doing better now trying to rebuild. I also was approved for capital one journey student cc yesterday.. I will tell you the secured cards got me in the door and because of that my score shot to 615 in 4 months. All true story.
Message 3 of 9
beachglass
Established Contributor

Re: 450 credit score

Hang In There. It will get better. Definately comb through those CR's for any errors. A good place to start. I would then suggest going to your local CU, if you don't already have an account, and open up a Shared Secured Savings Loan. No HP at all. It is a great rebuilding tool.   Smiley Happy

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 4 of 9
SHANNY
Member

Re: 450 credit score

I really wish there were errors on there but unfortunately everything is all facts. My utilization is at 110%. I feel like I'm sinking further and further.

Starting Score: 487 Pre Chap 7 discharged 8/2012
Current Score: EQ 633 EX 633 TU 655 (USAA) TU 600 EQ 629 (FAKO)
Goal Score: 725


Take the myFICO Fitness Challenge
Message 5 of 9
beachglass
Established Contributor

Re: 450 credit score

Going to need to work on getting that UTI down. How many CC's with balances.

Ch.13 Discharge 8/2014
START: 9/2014: FICO: Eq-533/TU-519/Exp-560
CURRENT:1/2017: FICO: Eq-699/TU-700 Exp-703
/Cap 1 Plat (11,500)|Barclays (6200)|Cap1.Quicksilver (7650.00)|Overstock (6,000)|Discover (4500)|DCU/Auto/25k/1.99%
|Cap 1 Auto/35k/2.49%
Message 6 of 9
StartingOver10
Moderator Emerita

Re: 450 credit score


@SHANNY wrote:
I really wish there were errors on there but unfortunately everything is all facts. My utilization is at 110%. I feel like I'm sinking further and further.

^^^This is the issue. Pay off your cc's - all of them except for one less than 9% of the credit line. Then you will have a much better score and will be able to "see where you are going". 

 

Anytime your balances exceed your credit limits you will be dinged especially hard. Having balances exceed limits after a recent Bk may even hit you harder (it looks like it).

 

What are your limits and your current balances? You may need to go through the snowball method of payoff to get back in financial shape.

Message 7 of 9
SHANNY
Member

Re: 450 credit score

6 cc with balances...I'm getting a nice bonus by March nxt yr my plan is to be debt free once that comes in. Then I'll be back on the right track.

Starting Score: 487 Pre Chap 7 discharged 8/2012
Current Score: EQ 633 EX 633 TU 655 (USAA) TU 600 EQ 629 (FAKO)
Goal Score: 725


Take the myFICO Fitness Challenge
Message 8 of 9
whipster
Frequent Contributor

Re: 450 credit score

Any baddies or missed payments since discharge? 

Message 9 of 9
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