MY BK Journey Updated 9/27/19

[neoanderson1]

Thank you for sharing this with us. Please continue to update. I hope my filing situation goes as smoothly as yours!

[nursepower]

Bump for update.

[nursepower]

BUMP for cool update. 

[FireMedic1]

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@nursepower wrote:

BUMP for SCT!!

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SCT's are all HP's now. As you have probably found out now. Reading your siggy. Its time to age the acounts. No more apps. You've reached the limits needed to rebuild. Have no more than 50% of your cards report. Practice AZEO. Time to garden now after all the apps in 4 months. Careful on the bumping. Dont want to irk the Mods. They have great food and spirits in the garden. Like wine it will get better with time now. Enjoy what you got and let you score grow on its own. You've done enough for now. Good Luck!

[nursepower]

Thank you....it was a HP. All done....The only one with anything on it is Wayfair and it's at $250. I get free financing for x months. That's the only reason it has a balance. 

[FireMedic1]

Thats fine. You came out the gate doing pretty darn good. Now let those puppies do their work and raise your profile and scores. The foundation you have built. Now the mansion will be built on top of that and great things are coming. Once the door is placed on the mansion. It will open to bigger and better things. Good Luck and congrats. Have a etomidate cocktail and chill and watch it all grow now!!!!!!!!!

[nursepower]

So I fell off the wagon today when I  got a preapproval for OLLO card with no AF, 0% APR for 9 months for purchases and balance transfers and I attempted it. Approved for $2600!!!! 

Now when Credit one is at 1 year I will cancel that and I can use this card to transfer a balance from hubby's Best Buy card that is due to promo expire in July saving us $300 in back interest. I'm very happy about this. Now back to the weeds. 

[FireMedic1]

Well Congrats I guess. Since your first post stated "10.18.18 DISCHARGED!!!!!" You now have opened 11 accounts. You just got DC'ed 5 months ago. Seriously its time to put on the brakes and let the accounts age now. All these hits for new accounts and HP's for some of the cards. You got to let them rebound your score. But the decision is yours to app or not. I apped for 9 cards in 3 years. I spread them out so they wouldnt kill my score for rebuilding. Its time to garden now for at least a year. I'm sure others would give the same advice. Take some Ibuprofen and lower the credit fever. My siggy is for inspiration of what can be done after BK. Not to brag in any way, shape or form. Keep apping and it will take longer to get there. Just my thoughts.

[nursepower]

Thank you for the words of warning. I thought credit was only bad if it had balances? I assume I'm wrong. Would it hurt me at this point to cancel some of the cards? Or just let them cancel for me? Or should I make a small purchase every now and again to keep them active? I am really happy about the Ollo, though, as it will save hubby and I some much needed money. 

[Anonymous]

No you don’t want to cancel them now that you have them.
What he’s saying is just stop applying for a while.
While you’re right about not having high balances on credit cards, too many inquiries makes you look risky to lenders. Don’t close the accounts though, that will lower your score even more. And yes, you do want to keep them active, even with small purchases as long as your balance isn’t super high. Letting a credit account sit doesn’t help your score.
I did the math though and it looks like you have a total credit line of $8,100, that should be more than good enough to rebuild credit with for the time being in my opinion.