Starting to bounce back

[aspj12]

Hi all,

This is my first time posting as a member. I officially filed for Ch7 back in January and made the decision to do so after putting myself in a horrible spot through bad/risky investments that I was always too optimistic about. I surrendered my car and was actually unemployed when the whole process began in November '24. I got a new to me car in February (crazy high APR unfortunately), case discharged in April. I have made each payment for my car on time. Since it has been 8 months since then and 6 months post-discharge, I figured I would start looking to rebuild my credit further. So far, I have been approved for 6 unsecured cars with a TCL of $7,400. Mission Lane, Capital One, CreditOne, Ollo, Indigo, and Merrick Bank. Per my bank account, my TU score is at 635. All others are showing around 603 and 605. But CK shows them as being lower. Prior to filing, my FICO was around 750 (pretty good for a 26 year old at the time). My score took a massive hit but is slowly improving and hopefully in the 6 months I'll be back into the high 600s or even low 700s. I've been trying to pay a little extra towards my car and want to refinance sometime between February and April. Does all of this seem realistic or logical? I hope I'm doing the right things by staying responsible and making better decisions.

TIA and thanks for all the support. This forum has helped me a lot this year.

[JoeRockhead]

Congratulations on your efforts to bounce back.  I'd caution you to put the brakes on with adding any more new accounts for the next 6 to 12 months.  Allow time to do it's thing and continue to build positive payment history, seek out SP CLIs on the accounts you have when eligible.   You can also practice AZE0( AZE1, or AZE2 with the amount of cards you have) which will help optimize your scores. 

Best of luck in your efforts, and welcome to the forum!

[aspj12]

Thank you. The only thing I plan to do in the next 6 months or so is refinance my car. I'll keep my current CCs, the limits should increase by then.

[FicoMike0]

Wow, six unsecured cards is great! More than you need, I think three cards is enough to build good history. If you're paying a few on any of those, don't be afraid to cancel. 

You may find credit unions are a good place to look for car refi. Navy and penfe d seem to do a lot of cars. It's never to soon to join, both have no fee accounts. 

[donze724]

Congrats on the progress!  Sounds like you have a good mix so now just let the accounts age, try to leverage AZEO and focus on the steady credit rebuild. You got this!