Hey everyone. I am new here and looking for advice on how to rebuild.
I filled for bk in december and was discharged in march. Right now I have a 624 TU and 601 Equifax. I opened a secured disco card with a 200 limit but unfortunatly when it reported I had a 180 balance on it. My statement period closes tommorow and I currently have a balance of $6 on it. I am hoping since the utilization will go down my score will jump higher. Should I get more secured cards or should I add more money to my discover card to raise the CL to 500 or 1000. I also got approved for a car loan back in May because I needed a new vehicle and I got hit with a whopping 13 percent interest rate. I have made all my payment on time and am looking to refi.
Does anyone have any good companies to refer me to for the refi? or should I stick with the 13 percent and make payments for a solid year before trying.
Also at what point should I start applying for unsecured cards. I think cap one is a no go for me because I burned them on my BK along with credit one.
CapOne is very forgiving and many have gotten back in with them within 6 months of a bankruptcy discharge. Hit their prequal page and see what comes up. If you get back in with a card from them, check into their auto loan program and you may find a better rate.
I think right now I would get your wallet up to 3 cards, practice AZEO, and if you have some extra cash, add it to your Disco deposit. It’ll allow you more flexibility, you’ll get it back, and maybe when it graduates it’ll get you a bigger CLI as well.
Platinum NPSL | Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | FNBO Prime Visa | FNBO Evergreen | PenFed PCR | PenFed Gold | Navy cashRewards | Navy Platinum | Apple | Wells Fargo Active Cash | IT Cash | IT Chrome | GHSFCU Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Sams MC | Firestone | Overstock | Kohl’s | Key Bank auto loan (2017 Audi A6 Premium Plus S-Line)