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3 Months Post BK7 Approvals

Bcunniff9
Regular Contributor

3 Months Post BK7 Approvals

I'm 3mos post discharge on my BK7. Updated scores in my siggy. Approved for:

Santander Auto Loan, $18k @17.45% (**bleep**)
NFCU, nRewards $500 CL
Kohls, $300 CL
Fingerhut, $250 CL
Credit One, $500 CL
And today I got approved for Cap1 Platinum, $300 CL

I think that's a great start for me. I burned Cap1 big time in my BK7. My scores have increased by a lot since I filed in March. The limits are low, but time will heal that. Big surprise getting approved by Cap1 today. I just app'd on a whim and got shocked with an approval screen lol. Keep paying those bills on time and you'll get what you want.

Just figured I would share that with everyone.
BK7 Filed | 3/25/2016 | EQ: 530 | EX: 526 | TU: 505
BK7 Discharged | 7/11/2016 | EQ: 535 | EX: 574 | TU: 506
Current FICO 8’s 10/28/2017 | EQ: 680 | EX: 680 | TU: 665
Message 1 of 11
10 REPLIES 10
grillandwinemaster
Valued Contributor

Re: 3 Months Post BK7 Approvals

Congrats! Your out of the gate with a bang!

 

So you have 5 revolvers and an installment loan? That's great, your done for a while. You have optimized your portfolio for now.

 

Go hit the garden to nurse your scores a bit. I'm sure you want to refi that crazy auto loan. That should motivate you to stay in the garden! 

 

In about 6 to 9 months your score should improve and hopefully you will be able to refi into single digits. 

 

Best credit wishes to you!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 2 of 11
AverageJoesCredit
Community Leader
Mega Contributor

Re: 3 Months Post BK7 Approvals

Way to go!! Very excellent to see you are in with Navy!. Maybe when time comes you can refi your car with them?. I agree with GWM that now is time to relax and grab a bite to eat at the Fico Garden where i hear they serve the best to all levels of the credit gameSmiley Happy.

I wonder where id be right now if i knew i could start rebuilding right after my bk7? Post 9+ years id say im doing alright. Just take my learned advice, dont app just to app now. Only app for something that you can use or benefits you. Too many temptations out there to get something cuz they are easy approvals or can pad your utilization. Ive made some boo boos but thankgully some i decided not to and am glad i didnt get a card i know/ knew i wouldnt put much use inSmiley Happy Best to you on your new journeySmiley Happy
Message 3 of 11
Pway
Valued Contributor

Re: 3 Months Post BK7 Approvals

Congats and you have done a nicely rebuild so far.  Like others have posted, refinance your car in about 6 months.  Good job on your rebuild.

Barclay Reward MC 750|Cabela's 1k|Capital One QS1 3.4k|
|Sony Card 3.5k|
Message 4 of 11
Bcunniff9
Regular Contributor

Re: 3 Months Post BK7 Approvals

Thank you for all the positive comments. I'm going to garden for a while, then 6-12 months down the line I'll refi my auto loan, and look for some prime products with NFCU so I can drop the subprime garbage. Thanks again!!

BK7 Filed | 3/25/2016 | EQ: 530 | EX: 526 | TU: 505
BK7 Discharged | 7/11/2016 | EQ: 535 | EX: 574 | TU: 506
Current FICO 8’s 10/28/2017 | EQ: 680 | EX: 680 | TU: 665
Message 5 of 11
Creditaddict
Legendary Contributor

Re: 3 Months Post BK7 Approvals

Close Credit One... You do not need it and it's a waste with Cap1 and Navy in your pocket.

I would give it about 1 month and then I would refi that auto with Navy too!

Close fingerhut also... waste of money!

Message 6 of 11
Bcunniff9
Regular Contributor

Re: 3 Months Post BK7 Approvals

You recommend refi'ing and dumping those that soon?
BK7 Filed | 3/25/2016 | EQ: 530 | EX: 526 | TU: 505
BK7 Discharged | 7/11/2016 | EQ: 535 | EX: 574 | TU: 506
Current FICO 8’s 10/28/2017 | EQ: 680 | EX: 680 | TU: 665
Message 7 of 11
Creditaddict
Legendary Contributor

Re: 3 Months Post BK7 Approvals

110%. A. Reddit score doesn't really need more than 3 accounts for best scoring and fingerhut is just edible and credit one costs money and you are already over600 so navy loves secure loans if the value isn't to bad!
Maximize this restart without spending money on expensive debt (fees included!)
Message 8 of 11
Bcunniff9
Regular Contributor

Re: 3 Months Post BK7 Approvals

Ok then, I'm going on your advice to refinance with Navy and dump the other two. I'll probably wait until the first week of December to do so. I want two more months of payments to go on my reports and in December my next Fico 3B reports/scores will be available. Plus I'm expecting my score to tick a little higher and that'll only improve my chances of a great rate for the auto refi.

Thank you for the great advice. It's folks like you that give me the confidence to keep going in this long journey.

I'll keep everyone updated on my refinancing with the terms, and any additional products that obtain along with the loan.
BK7 Filed | 3/25/2016 | EQ: 530 | EX: 526 | TU: 505
BK7 Discharged | 7/11/2016 | EQ: 535 | EX: 574 | TU: 506
Current FICO 8’s 10/28/2017 | EQ: 680 | EX: 680 | TU: 665
Message 9 of 11
Creditaddict
Legendary Contributor

Re: 3 Months Post BK7 Approvals

Sounds like a great plane!
Message 10 of 11
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