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Improving my score after ch.7 BKR

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Improving my score after ch.7 BKR

My Ch 7 was discharged in april 2018, and my TU is 663, Eq is 679 and Exp is 680.

After BKR I was approved for Cap.1 venture with a $8500 CL, HSBC $2750 and

just this week a Nordstroms Visa with a $3.5k and a 5th 3rd, but don't know the limit yet.

I am also a AU on my dads Chase visa with a 38k limit, and total Util is 4%

 

I really want to get my scores above 700 so I can get higher limits and maybe a few more cards, however, 

I pretty much burned majors, amex, chase, citi, barclay.  I also burned U.S. bank on a business lease, so does this mean I am 

black listed from U.S. bank for some time?

 

 I would like to get USAA, Penfed, or BOA card, specifically the BOA premier or a cruise line card.

 

Also, my BKR only shows on EXP, not on TU or Equifax.

 

So, how can I get my score up?

 

Message 1 of 7
6 REPLIES 6
Established Contributor

Re: Improving my score after ch.7 BKR


@consulting2017 wrote:

My Ch 7 was discharged in april 2018, and my TU is 663, Eq is 679 and Exp is 680.

After BKR I was approved for Cap.1 venture with a $8500 CL, HSBC $2750 and

just this week a Nordstroms Visa with a $3.5k and a 5th 3rd, but don't know the limit yet.

I am also a AU on my dads Chase visa with a 38k limit, and total Util is 4%

 

I really want to get my scores above 700 so I can get higher limits and maybe a few more cards, however, 

I pretty much burned majors, amex, chase, citi, barclay.  I also burned U.S. bank on a business lease, so does this mean I am 

black listed from U.S. bank for some time?

 

 I would like to get USAA, Penfed, or BOA card, specifically the BOA premier or a cruise line card.

 

Also, my BKR only shows on EXP, not on TU or Equifax.

 

So, how can I get my score up?

 


I will let the BK experts weigh in, but a couple items caught my attention. 

 

1.  You are only seven or eight months post bankruptcy and have gotten 5 new cards (counting the AU).  Despite that you want to get "a few more cards."  I think you are only likely to get low limit cards until you have more time post BK and your existing accounts have aged more. Your scores are being held down by the new inquiries and accounts hitting your AAoA and AoYA.  You apparently just burned all the majors. 

 

2.  Your BK is only showing on EX?  That is unusual.  Are your discharged debts still showing on TU and EQ?  I am also surprised that EX (which shows your BK) would be your highest score at 680 and that EQ (without BK) is only 1 point lower at 679.

 

3.  Putting a cruise on a new credit card within one year post BK may be a financial decision you might want to rethink.  You should be wary of getting too much credit, too soon.  I make no judgement as to why you filed BK but you might want to develop new financial habits before you start going back heavily into debt.

Message 2 of 7
Established Member

Re: Improving my score after ch.7 BKR

Thanks, Yea I keep checking and the BKR is only on 1 report.

As for how the BKR accounts show, some show as terminated or closed.

 

Also, I am not 100% sure about 5th 3rd yet, as I just have the email but not 100% sure if 

it is approved.

 

I am not planning on putting a cruise on the card, but want the card for the cruise rewards.

I had a business go belly up so that is why I had to file for BKR.

 

 

Message 3 of 7
Regular Contributor

Re: Improving my score after ch.7 BKR


@consulting2017 wrote:

Thanks, Yea I keep checking and the BKR is only on 1 report.

 

 


Something else to keep in mind is that if, or when the BK shows up on the other reports, the existing cards you have may be closed by the issuer.

Message 4 of 7
Senior Contributor

Re: Improving my score after ch.7 BKR

You asked. Do nothing anymore for now. No more apping. You have enough cards to build with. Only need 3 for best scoring. As I tell others. You are on probation for now on how you handle credit. You want 700 scores. Take care of your cards now. Dont run up high balances. If you do. PIF as soon as you can. If you do then the scores will start to rise. Time is your best friend now. Getting more cards will wave some red flags for future apps for now. You've got to age those inq's now. I wouldnt go after another card for at least a year.Take care of what you got and let them age. I was 540-560 3 yrs ago. See below. Slow and steady wins the race.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 5 of 7
Valued Contributor

Re: Improving my score after ch.7 BKR

"3. Putting a cruise on a new credit card within one year post BK may be a financial decision you might want to rethink. You should be wary of getting too much credit, too soon. I make no judgement as to why you filed BK but you might want to develop new financial habits before you start going back heavily into debt."



This ^^^^






Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000. Waiting on them to all report over the next month... Only Kohls is reporting so far... WITH AGE. They use AZEO method.

Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.

I WANT to join: Hanscom FCU (For the 2 day early direct deposit).


Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 6 of 7
Established Member

Re: Improving my score after ch.7 BKR

Thanks, I was wanting the BOA Cruise card for the rewards.

I am trying to stay out of debt, and have managed so far. 

 

The reason for the BKR was a failed business.

Message 7 of 7
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