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Some rebuilding questions

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Re: Some rebuilding questions

any thoughts on Petal Visa CC? or Opensky secured? Both seem to have good reviews. Also I was pre-qaulified for the merrick dyl



Before Bankruptcy (discharged 11/18):

After Bankruptcy (current):

Message 11 of 13
Established Contributor

Re: Some rebuilding questions

I'm going to disagree with most on this thread. You don't really need any more cards. With the one you have and the loan, you have satisfied your credit mix. The only reason to have 3 is to do that AZEO method and personally, I think that is a waste of energy as it only counts in the month you keep them all except one at 0. Unless you have some big app coming up, then the few points you may gain is just not worth it in my opinion. Just make sure the one card you have never reports over 8.9% at statement cut.


I think you should just let what you have age and then once your youngest account hits a year, then maybe look at another card. While you are waiting, see what baddies you may be able to get excluded from your reports. Make sure there are not any tradelines from the BK that are not reporting correctly or anything else you can get gone.


If you do it like this, then once you go after another card you will get some decent starting limits instead of the 300-500 SL's most get right after a BK. Just my opinion and either approach is really okay. 

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 10/12/19:

First Goal Score: 750+ Reached 3/2019

Next Goal all over 800
Message 12 of 13
Senior Contributor

Re: Some rebuilding questions

Respectfully disagree. The purpose of 3 cards is FICO doesnt like more than 50% of cards reporting. Two cards and 1 reports is the border. Three cards and 1 reports, forget AZEO. Then it's less than 50 % reporting. Theres more than just AZEO at stake here. One card and PIF doesnt do much. It isnt 1 card per year. Two yes 3 max in 1 year would do then take a break and let the 3 work for you. I didnt wait 8 yrs to get 8 cards. Took 3 yrs for 10 cards. Just space them out and you'll be fine.

My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 13 of 13
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