Post Bk7 DC Progress

[sihmud]

Hello all,

wanted to share my progress on here for any future or existing members that might find this useful. also to track my progress

I filed in OCT 2021 and was discharged in FEB 2022 & have acquired the following accounts and have the following scores.

1. Cap 1 QS AF - $3,000 -  same day as DC
2. Paypal Line of credit - $2,200 - 1 week post DC
3. Mercury MC - $1,750 - 1 week post DC
4. PenFed auto Refi (only qualified with a co-signer) - $29,000 @ 3.24% (Dropped my payment $160) -  1 months post DC
5. Penfed Overdraft LOC (should have never got this, it's pointless I never overdraft my accounts, also did NOT know it would report to my credit and REP said I can use it as a regular line of credit then later found out if I touch it too often they see it as account abuse..)
6. Upgrade LOC - $2,000 - 3 months Post DC
7. Paypal MC - $700 - 3 months Post DC

I plan on gardening for a while now and just request CLI every 6 months for about a year. I feel I got a little impatient and applied for some accounts I probably didn't really need, but hey, what's been done has been done. 

my current UTL is around 7% between all accounts. I really only carry a balance on my PayPal line of credit and that is because I get 0% interest for 6 months on each purchase over 100$.

My current scores are below,

Experian FICO 8 - 650 // FICO 9 - 673

EQUIFAX FICO 8 - 642 // FICO 9 - 600

TRANSUNION FICO 8 - 633 // FICO 9 - 645

I love advice so if anyone suggests i should do something different go ahead and tell me. 

thanks!

[CornChipPaws]

Who did you burn in your bk tho?? 

I wish I didn't burn my Apple Card ... I didn't need to but the atty said I had to include it! 

[sihmud]

@CornChipPaws 

I burned the following,

navy fed - credit card 

Merrick bank 

credit one 

I included wells/discover/ lending club/ express card/ kohls. But those accounts were already charged off long before my BK. I mainly filed because of a failed business that resulted in business debt I got sued for.  It was under corporate account but a few accounts I was personal guarantor on 

[FireMedic1]

Kick back and enjoy the view from the garden for the rest if the year. Little too much too soon. Then give Cap1 a shot for the QS then. And spread out apps at least 6 months. Took 6 yrs for that mess below. Slow wins the race. Congrats and good luck.

[SUPERSQUID]

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@sihmud wrote:

Hello all,

wanted to share my progress on here for any future or existing members that might find this useful. also to track my progress

I filed in OCT 2021 and was discharged in FEB 2022 & have acquired the following accounts and have the following scores.

1. Cap 1 QS AF - $3,000 -  same day as DC
2. Paypal Line of credit - $2,200 - 1 week post DC
3. Mercury MC - $1,750 - 1 week post DC
4. PenFed auto Refi (only qualified with a co-signer) - $29,000 @ 3.24% (Dropped my payment $160) -  1 months post DC
5. Penfed Overdraft LOC (should have never got this, it's pointless I never overdraft my accounts, also did NOT know it would report to my credit and REP said I can use it as a regular line of credit then later found out if I touch it too often they see it as account abuse..)
6. Upgrade LOC - $2,000 - 3 months Post DC
7. Paypal MC - $700 - 3 months Post DC

I plan on gardening for a while now and just request CLI every 6 months for about a year. I feel I got a little impatient and applied for some accounts I probably didn't really need, but hey, what's been done has been done. 

my current UTL is around 7% between all accounts. I really only carry a balance on my PayPal line of credit and that is because I get 0% interest for 6 months on each purchase over 100$.

My current scores are below,

Experian FICO 8 - 650 // FICO 9 - 673

EQUIFAX FICO 8 - 642 // FICO 9 - 600

TRANSUNION FICO 8 - 633 // FICO 9 - 645

I love advice so if anyone suggests i should do something different go ahead and tell me. 

thanks!

---

Time is king, good credit is a marathon not a sprint. my bk7 dc was 12/20/2019. I didnt apply for any credit until sept/oct 2020 and started with cards with baby limits and crazy interest. after about a year i got better cards as far as limits but still high interest but some had no fees. at 2 years post bk7 dc i started getting juicy cards with reasonable interest, no af's, subs, i have 2 signature visas and my starting limits on cards are good considering my income is low.

congratulations on getting back on the horse, you will see as time goes by it gets better and better.

whenever you can pay in full every month but if you cant pay at least double the minimum