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Small Victories Post BK

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Zoostation1
Established Contributor

Small Victories Post BK

It's been 5yr8mo since filing BK7 and about 1yr8mo since starting to rebuild and it's nice to see some scoring progress with a majority of my FICO scores across most models currently at their highest since becoming scoreable again last May (unusual combination of timing left me unscorable for a few months early in the rebuild).   I've still got a long way to go and I know FICO9 isn't the most heavily used yet, but all 3 of those are over 700 for the first time.

 

EQ9: 716, TU9: 702, EX9: 711

 

PIF and time slowly heal the credit wounds.

 

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
Feb 2024 FICO 8:
Feb 2024 FICO 9:
Message 1 of 5
4 REPLIES 4
Creditwiser
Valued Contributor

Re: Small Victories Post BK

You're heading in the right direction with your scores. Congrats on your progress !

 

Do you have the right mix of revolvers and Installment loans ?  UTL low  ?  These factors can all help toward increasing scores.

NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k | 1 months until BK7 disappears |
( EE from TU & EX )
Message 2 of 5
Zoostation1
Established Contributor

Re: Small Victories Post BK

 


@Creditwiser wrote:

You're heading in the right direction with your scores. Congrats on your progress !

 

Do you have the right mix of revolvers and Installment loans ?  UTL low  ?  These factors can all help toward increasing scores.


Thanks!  I have the 4 revolvers in my signature, but no installment loans.  I guess if I wanted a quick boost I could move more of my savings over to my PenFed account and do the SSL pay it down to 8.9% trick (assuming they still do SSLs).  When I started my rebuild I wasn't aware of SSLs nor did I have enough savings to do it at the time (savings situation is much better now and the long term goal is to save enough money for an eventual down payment on a home).

Rebuild Started Nov 2021
June 2022 FICO 8:
June 2022 FICO 9:
Feb 2024 FICO 8:
Feb 2024 FICO 9:
Message 3 of 5
Creditwiser
Valued Contributor

Re: Small Victories Post BK

Your scores might certainly benefit with an SSL and the 8.9% plan. Not sure about PenFeds SSL availability but if not, it shouldnt be difficult to find one. 

 

You're doing well. Try to keep the HP's to a minimum and keeping UTL low across your revolvers. Small victories are good !

NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k | 1 months until BK7 disappears |
( EE from TU & EX )
Message 4 of 5
FireMedic1
Community Leader
Mega Contributor

Re: Small Victories Post BK

Your right on track and playing the game just right. 2 yrs out should be the 700 club. Keep at it.


Message 5 of 5
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