@Anonymous wrote:
Do you think this will help me build credit before my bankruptcy is over? I'm finally financially stable again and was hoping I could get some credit started before the bankruptcy ended. I know with the credit building loans your not borrowing any money from anyone except yourself so I figured it might be worth a shot.
It would definitely get you back on the road to credit recovery providing you pay on time. Also the ssl helps with your credit mix if you don't have a current open installment loan.
You could also try a secured card with no credit check like Opensky which would help you with having a revolving account. I believe you can get one started with as low as 200$ but the more you put down shows a higher credit limit which some credit issuers try to match or outdo when you are credit worthy enough to obtain an account.
Opensky does not unsecure so whenever you want your money back you have to close the account.
Once you start getting your foot back in the door you could start doing pre-quals for different cards, these are pretty good in the fact they are soft pulls and don't affect your credit as no other creditors can see them.
The rebuild takes time no quick fixes but small things that will help you along the way.
You need to check your 3 credit reports to see what's on them (annualcreditreport.com is giving them free for a year right now) also you need to find out your FICO scores (search forum on posts where you can get them free).
Sites like credit karma and wallethub are good for monitoring purposes and Vantage scores. Most creditors do not use Vantage scores but they will give you an idea of where your scores are and also good tips on bettering your credit are provided.
I started my credit rebuild approx. 2 years ago with a Cap1 secured card, Selflender account, then a creditone card 3 months later, then 6 months later an unsecured cap1 card. In all total I added 8 revolvers and 1 installment in that first year. I wanted to take all my hits in a group so that most of my accounts would be 2 years older and those inquiries would fall off one by one behind each other. (added 4 more accounts the next year).
Jan 2021 will look very good for me.
Started in the very low 500s and now upper 600s a few points away from 700s.
