I just wanted to share me and by DH's rebuilding journey with hopes to help someone else in theirs. I'm hoping to also receive advice from others that have purchased a home after the 2-year wait.
Filed Joint BK7 Sept. 2017 and discharged Dec. 2017. My spouse and I burned the following:
Me: Amex Charge Card, Amex Blue Cash, Chase Marriott, Cap 1 Quicksilver, & Credit One
Husband: Delta Amex, Chase Sapphire, Discover, Capital One Plat., & Macy's.
My Rebuilding Journey
Starting Score: 548
Discover secured ($500)- 1 month post bk - my card still has not graduated and no prequal offer available- Credit Score: 548
PenFed Auto Approval (23k)- 7 months post bk- initally denied but recon w/ same day approval-no downpayment. Credit Score: 620
First Premier ($500)- 7 months post bk- ugh...I hate this card- Credit Score: 620
Ollo ($300)- 8 months post bk- Received mail offer; I absolutely love ollo - Credit Score: 632
Merrick Bank ($700)- 11 months post bk- EQ HP - responded to mail offer - Credit Score: 649
PayPal Credit ($1,500)- 11.5 months post bk- EQ HP; I initially received the 7-10 day message. Received a call the day after to verify identity. Upon verification, I was instantly approved. Credit became available the same day.
OverStock ($350) - 11.5 months post bk- SCT EXP HP- Credit Score: 645
Target Red Store Card ($300)- 11.5 months post bk- EQ HP; Initially received the 7-10 day message. Called 800-424-6888, spoke w/ rep that stated that they needed to verify my identity. Was told that my app required further review and that I would receive notification via mail 7-10 days. Called back 2 after to check status and was told that I was approved.- Credit Score: 639
Denials: Barclay Apple Reward- 9 months post bk | Amazon Store Card w/ Synchrony- 11 months post bk | Bed Bath & Beyond MC w/ Comenity Still no prequal offer from Cap 1
My Husband's Rebuild Journey
Starting Score: 575
Premier 1st ($500)- 7 months post bk- responded to mail offer - Credit Score: 575
Ollo Rewards ($600)- 10.5 months post bk-prequal and applied directly through credit karma- Credit Score: 640
Cap 1 QS One ($1k)- 11 months post bk- prequal on Cap 1 site. Required further review. Approved upon verification of identity. Received approval email 1 day after verification. - Credit Score: 660
Victoria Secret ($250)- 11.5 months post bk- SCT. Credit Score: 649
Cap 1 Auto- Kept his account open although he didn't reaffirm so that has really helped his credit.
Denials: None... he refuses to apply for anything that he isn't pre-approved or pre-qualifed for.
Preparing/Planning to purchase our first home
My husband and I are planning to garden from Jan. 2019- Dec. 2019.
Right after our 2 year mark, we plan on purchasing our first home. Does anyone have advice that we could use during our gardening season? What's the best/quickest method to boost credit scores. I'm nervous and haven't really came across success stories for first time buyers.
We both have 100% on-time payment hx, no collections, bk7 is the only deragotory mark on credit. Household income is 6 figs. Is it safe to look at new construction homes at least 1 month prior to 2 year mark or should we wait until after the 2 year mark? Any feedback is greatly appreciated.
Your whole credit picture says to me that you have numerous recent apps.recent new cc accounts open, and a auto loan.This is a great mix and alot of cc's.You should use all these open credit accts to continue paying everything ontime,keep balances way below 10% on cc's and no more apps.Learn the AZEO method before your mortguage app. GOOD LUCK.