@Anonymous wrote:Hello! I need advice on the best, "easist" way to build up my credit after filing BK7. It was discharged in July 2019. I have read so much of this forum my eyes hurt and now it's all jumbled together. And the people here have so much information to share! My scores are right about 605 right now and I know it's way too soon to apply for anything. What is the first step, or best card to try and get? And when do I try? Thank you for your help!
Good luck on your credit repair journey and welcome! The spot you are starting from is quite managaeable, and if you approach this as a lifelong effort, you can pur your credit health in good shape for consistent, measured improvement.
As to your question, what is the "easiest way to rebuild", I won't spend time answering that one. It's not a question I would recommend one even ask.
@mrgoattoo wrote:The easiest way is to first clear your credit reports. I called them and disputed everything on the list.
When the smoke cleared there was nothing left. The ones I think I may have owed didnt bother to fight it, I think.
I then got an easy credit card with a low limit and went nuts. Used it for EVERY purchase then paid it off a few times a month.
My credit was jumping very quickly over the months. Was in the mid 700s in no time and hit 800 probably within 18 months.
My credit basically consists of credit cards. Despite what naysayers claim, if you USE credit cards constantly thru the month, then pay the ENTIRE balance every month, you end up with a zero interest credit builder that I know factually thru personal experience is a VERY quick way to rebuild your credit.
BUT...it requires that you USE it AND PAY it off every month.
If one is the sort who cant handle a credit card due to temptation, this isnt probably the best idea.
Currently my FICO stays in the 820-825 range pretty much every month just using credit cards.
Your FICO score itself does not care if you use and pay off your card 50 times a month. That is a fact which is not disputable.
Advising someone exiting bankruptcy that heavy credit card use is the "easy" answer seems dubious, but that is certainly just my opinion on the subject.
I would encourage the OP to ask what is the prudent and long lasting approach, not the easy one.
OP> Like @Remedios said. Please list who got burned first. Then we can go from there. There's many of us that can help you start your rebuild the right way and slowly get back to a pretty decent credit profile. You have to start somewhere and this is the place that can do that for you. So fire away. Lets get to rebuilding.
@mrgoattoo wrote:The easiest way is to first clear your credit reports. I called them and disputed everything on the list.
When the smoke cleared there was nothing left. The ones I think I may have owed didnt bother to fight it, I think.
I then got an easy credit card with a low limit and went nuts. Used it for EVERY purchase then paid it off a few times a month.
My credit was jumping very quickly over the months. Was in the mid 700s in no time and hit 800 probably within 18 months.
My credit basically consists of credit cards. Despite what naysayers claim, if you USE credit cards constantly thru the month, then pay the ENTIRE balance every month, you end up with a zero interest credit builder that I know factually thru personal experience is a VERY quick way to rebuild your credit.
BUT...it requires that you USE it AND PAY it off every month.
If one is the sort who cant handle a credit card due to temptation, this isnt probably the best idea.
Currently my FICO stays in the 820-825 range pretty much every month just using credit cards.
You hit 800? Never seen that here. And how far out are you from BK?
Ok. To start with. Its going to be secured to start. Grab a OpenSky. No HP. Everyones approved. In 3-4 months after responsible use. Start hitting up Disco's secured card pre-qual page. It will graduate. Any loans at all?