Showing results for 
Search instead for 
Did you mean: 

Possible next step?


Possible next step?

I found this board back in August and it has raised my score 37 points(scorewatch).Thank you everyone! 


History: Bk7 discharged 08/09

Reaffirmed and paid off one auto and financed two other vehicles since bk discharged

Aaoa: 8 Years

Credit score: 701(scorewatch on 12/12) Starting score 664ex 666tu lender pull on 08/12

Preappoved(lender broker) for VA loan $285,000 new construction home scheduled to close in Feb. 2013. (there is always a chance that it won't happen but if it does)

Yearly Household Income: 102,000

Bank at local credit union for over one year with over $10000 in savings(can't touch need to show reserves for closing).


Credit One 0/1000

Capital One 0/750 

Capital One 0/1000

First Primier 0/300

GE RoomstoGo 1747/5000

JCpenny 0/600

JC Penny(wife's) 0/800



   After we close on home, I really want to refinance my current vehicle 9.9% to credit union's 3.0% and apply for one of their rewards Visa. I would also like to apply for a Walmart Discover and maybe an Amazon Store Card. Do you think this is fesible? How long after closing should I apply? What kind of limits could I expect? Any other suggestions you may have would be welcomed. Love the forum and thanks again.



Message 1 of 5
Valued Contributor

Re: Possible next step?

Make sure you don't jump the gun on anything.  As you seem to know, the mortgage is by far the most important thing happening for you right now.  Not to mention, the construction aspect of this loan may complicate some of the process.  I've never been involved in a construction financing deal, so maybe someone else can offer more insight into if lenders pull after closing (disbursement of funds is usually laddered to pay only for costs that are actually incurred).


But, before you do ANYTHING with credit cards, the auto loan refinances will make the most impact on your wallet, so I would take care of those first.  Maybe in March/April. You want to be comfortable with the mortgage situation and give it a few weeks to settle in.  Then, if it was me, I would see what happens with my score in that amount of time, after all the inquiries and new accounts get onto my reports and then look at my credit card options.  It is very possible that with your BK showing and after adding new accounts, your scores might not be ready for new credit cards.  BUT, the great news is that once all this excellent activity ages (6 mos - 1 year) your scores will almost certainly go even higher than they are now.  Temporary setbacks make for long term success.


Congratulations on making a credit comeback, and good luck in the future!  But seriously, stay away from this forum if you have any urges to apply before March.  We are notoriously bad influences, and you can't afford to let us convince you to make poor decisions.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 2 of 5

Re: Possible next step?

Thanks for the reply. We are not doing anything until the house is closed and funded. Its funny but this site has made credit fun if that's possible?
Message 3 of 5
Valued Contributor

Re: Possible next step?

depends on if you're in the rebuilding forum, or CC forum.
5/2012: 560 credit scores across the board
12/2014 750+
3/2017 780+
5/2017 800+
Message 4 of 5

Re: Possible next step?

True that. I have at the top and at the bottom of credit. Tops better.
Message 5 of 5