I am just looking for a bit of guidance with rebuilding. The plan was to follow the 24 mos to 700 but our situation doesn't exactly fit the mold.
We opted to reaffirm our mortgage. This is reporting positively and we have never had a late or missing payment since we took the loan in 2004. I wasn't sure that all of that would report however when we applied for a car loan we were told we had a very reassuring credit history (never a late or missing on any of our car loans or our mortgage) despite showing a recent bk.
We were discharged from our chapter 7 in May. We were both approved for capital one platinum cards right away for $3000 a piece. We are both expecting a CLI after the next billing cycle. We have used our cards every month and paid them off when the statement cuts.
We applied for and received a car loan for a new (used) van. We opted to put $1800 down and are at a 3% interest rate.
We were both approved for a Barclay reward for $1500 right after our auto loan.
I also had a store card survive our bk for a $600 limit.
So my question is.... do we just wait now? I don't know if we really need a credit rebuilder? But I do think our credit union would do one if it would be helpful. But at this point we have two loans and revolving credit lines reporting each month. TIA. I appreciate all feedback
I would just wait (garden)
You have plenty of accounts.
Your credit would not build much faster with more accts and might even take a hit.
You have a mortgage, car loan, store cc, normal cc.
Bases are covered.
If you want another card, wait about 7-8 months from your first Cap One and apply again for a QS or Venture.
I started with 3k after BK and got a $10k QS within a year.
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Sounds like you're off to a great start with your rebuild! Congrats on the Barclay's card too BTW!
Congratulations on your rebuilding! May I ask if you had any C1 cards that was added to your bk?
That's awesome you were approved for card right after.
I had 2 QS and husband had 1 Platinum that we added to bankruptcy. The balances weren't high and hopefully this process is smooth as possible and that they're gracious enough to let us back in to rebuild.
We did not have any capital ones iib. Sorry it took so long to reply. I wasn't getting notifications. Hope this helps!