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New Member- Trying to bounce back

PositiveProgress
Established Member

New Member- Trying to bounce back

Hi all! I’m brand new to My FICO but I LOVE these forums so far! Sorry this is long, but if anyone can offer insight and is bored enough to read, I’m willing to learn.

I converted to Ch 7 bk last August because I was in a ch 13 and had a series of medical issues befall my family back to back last year while I was out on maternity leave and my husband couldn’t carry the weight of home with just my limited income at that time so things started falling behind. I’m typically the primary breadwinner and my “extra” debt was from before we got married, so I filed by myself. I was pretty current on everything when I filed. Discharged since about October 2016.

I started a Self Lender account Dec 2016 and have stayed current on it. I’m $98 from paying it off, which is right on track. I got a secured Cap 1 card in Jan for the $49 deposit and have ensured that I pay in full or almost in full by due date and don’t use it again before reporting date, so my utilization always reflects as below 10%. I kept my home in the bk, but the mortgage of course doesn’t report on my credit reports at all.

Last week, I applied for the Discover It card and was approved for $12K limit. I also applied for Cap 1 Quicksilver this week and got the 7-10 day review message. I got a call the next day that it was because they needed to verify my identity, but since I already had a card w/ them and they were able to reach me over the phone, they were able to bypass that and proceed w/ app review. I was told that I’d get the status in a few days. I haven’t heard back, so I called the automated # today and learned that I was approved (don’t know limit yet).

Finally, I joined PenFed this week (NFCU won’t do credit because they were IIB- still have checking/savings). I applied for PenFed CC but was denied. I was told that my lines of credit are too new and they suggested opening a Share Loan which is basically a secured loan with them. I’m going to do that.

Current scores on Credit Karma were reflecting higher, so I was sad when I joined MyFICO and saw Equifax 647, TU 630, Experian 667, but at least I know where I stand. Short term goal is to keep all utilization below 10% as I have been and to get to 700 or higher.

Also...want to know how credit lines IIB should report. I’m seeing that some things are reporting as delinquent, but details show IIB. Should I try to get this changed? It says it’s impacting my scores and IDK if it should be there or not.

Any tips/advice would be greatly appreciated.
4 REPLIES 4
Guyatthebeach
Valued Contributor

Re: New Member- Trying to bounce back

Congratulations on your efforts so far!

 

I have both Penfed and NFCU and I like both of these credit unions. Pendfed isn't as fast as NFCU with decisions, but the have better credit card rates.

 

If you will to open a checking account and have direct deposit, you apply for the power cash rewards Visa. I have the Promise Card and like the low rate I have.

 

I was orginally declined due to my bankruptcy, but it was approved after a recon call.

 

Good luck!

 

Guyatthebeach

Message 2 of 5
medicgrrl
Valued Contributor

Re: New Member- Trying to bounce back

Welcome to the forum's!  

 

Congrats on your rebuild so far.  You're on track for the 700 club.  I would head to the garden for now and let your new accounts age.

 

As for the accounts IIB, are they showing delinquent prior to the BK or after?  They'll continue to report the previous delinquency, they just can't report lates after a BK.



EQ 778 EXP 782 TU 729
Message 3 of 5
PositiveProgress
Established Member

Re: New Member- Trying to bounce back

I’ll definitely apply for PenFed checking and get at least part of my paycheck deposited there. I still use NFCU primarily because most of my family uses them and transferring money between us is so easy.
Message 4 of 5
PositiveProgress
Established Member

Re: New Member- Trying to bounce back

Thanks!
Message 5 of 5
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