@MarkyB wrote:Any feedback would be great!
I've got the 8 CC accounts you see in my sig (which is more than enough... 3 IMHO is plenty) as well as the new auto loan and 5 other small installment loans (student loans from years ago). These current CC accounts were opened in the last 2 years while I was still making Ch 13 payments. That practice can be frowned upon but my trustee only seemed to care about me making the monthly payments on time which I always did.
My AAoA is pretty solid as well because I have multiple CCs and auto loans on my reports that were paid and closed prior to filing my Ch 13 in 2017 so they are also helping.
I'm coasting to the finish line at this point. No plans to apply or open any more accounts. I've got less than 2 years till all the baddies are gone.
@TRC_WA wrote:
@MarkyB wrote:Any feedback would be great!
I've got the 8 CC accounts you see in my sig (which is more than enough... 3 IMHO is plenty) as well as the new auto loan and 5 other small installment loans (student loans from years ago). These current CC accounts were opened in the last 2 years while I was still making Ch 13 payments. That practice can be frowned upon but my trustee only seemed to care about me making the monthly payments on time which I always did.
My AAoA is pretty solid as well because I have multiple CCs and auto loans on my reports that were paid and closed prior to filing my Ch 13 in 2017 so they are also helping.
I'm coasting to the finish line at this point. No plans to apply or open any more accounts. I've got less than 2 years till all the baddies are gone.
Nice. Do store cards report your payments? Do they help build credit as well like regular cards?
@MarkyB wrote:Nice. Do store cards report your payments? Do they help build credit as well like regular cards?
Yes they do but I've never been a fan of store cards... I much prefer the V/MC/DISC/Amex branded cards. I only have the Kohl's and won't be getting any more. I've seen a lot of people load up on store cards and it affects their ability to get better cards later. Closing store cards out then hurts your overall credit... so IMO best case scenario is to just avoid store cards which is what I do.
@TRC_WA wrote:
@MarkyB wrote:Nice. Do store cards report your payments? Do they help build credit as well like regular cards?
Yes they do but I've never been a fan of store cards... I much prefer the V/MC/DISC/Amex branded cards. I only have the Kohl's and won't be getting any more. I've seen a lot of people load up on store cards and it affects their ability to get better cards later. Closing store cards out then hurts your overall credit... so IMO best case scenario is to just avoid store cards which is what I do.
Good to know they help your score. I definitely plan on obtaining some store cards once I qualify. Being able to finance expensive products is always a plus. Thank you for your feedback!
@MarkyB have you tried the prequal for Kohl's or Walmart? You might already qualify to get in the door on one of those.
@lns1976 wrote:@MarkyB have you tried the prequal for Kohl's or Walmart? You might already qualify to get in the door on one of those.
No not yet. I'm very picky when it comes to applying and opening new accounts. In fact, I had filled out the Open Sky secured card application but backed out at the very end when it came time to click that submit button. I don't want to force anything. I will farm the Discover and Capital One secured cards I have along with the Self account. I would love to open a Citi secured card since they provide the Equifax fico score for free. I already get my Experian and Transunion fico scores every month for free so it would save me $40 a month. I just don't know how easy it is to get approved for it right now. I may wait a bit longer.
So credit karma updated my transunion today with the self credit builder account. My vantagescore dropped 2 points cuz of it. Bummer. It's my only active account so I wasn't expecting a score drop. Anyway, nice to see changes being made.
I will keep updating my scores for anyone interested to see the process at work. I know there are many people that read threads to help themselves. I don't want to be the guy that only comes here for help but doesn't share any information for others that may be in the same position. I will start posting my fico scores as soon as I generate them.
@donkort wrote:Do you know your FICO scores?
You can get a very comprehensive group of FICO scores here at MYFICO.
But you could get some Experian scores for free on the Experian website. There would be a 7-day free trial which you would have to cancel.
If you join certain credit unions, and get one of their credit cards (example: Navy Credit Union), you would get a free FICO score.
More credit-giving entities use FICO scores than they do Vantage scores.
No, no fico scores yet. Not enough credit history. I know the vantagescore is pretty irrelevant but that's all I have to go by right now. As soon as I generate fico scores I will share them.
I have a free experian membership which shows my monthly fico score. And discover shows me my monthly transunion fico score. The only one I need is the equifax fico. I know citi bank offers it for their credit card customers but I fear I won't get approved for their secured card right now so I don't want to risk the hard pull. I may have to bite the bullet and pay the $40 a month membership for the myfico account so I can view and compare all 3 fico scores side by side every month.
Here's what I get when trying to view my experian and transunion fico scores....
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