@BinbinimiwiI'd wait until you get into the 700's. Once I got there. I went a different way of rebuilding with scores as my timing guide. Once I was in the low 700's. I apped. Approved. New account hits. Back to high 600's. Rebounded back to 700. Next. Kept repeating. In time the base of 700 went to 710 then 720 and so on. The little time in the 750's I cashed in those scores for 3 cards and a SUV spree. Lost 20 points but didnt care. Touched 740's again. Here came AMEX a few weeks back. Back to 730's. The only denial below was AMEX for having too many new checking accounts. It was 1. Waited a year, HP aged off. And was approved in the long run. Higher the score you can pick and chose whatever you want. Been a 6yr run after BK. I'm not saying do it my way. Just things to ponder on for future decisons. You've done really well. Congrats!
@Thanks so much for the feedback, support, and helpful info. I checked yesterday morning and that 1 medical collection has fallen off and I'm now in the very low 680's on EX. I haven't checked the other bureau's but this is so exciting! I am hoping I hit the 700's sometime in the next 3-4 months as I'd love to get a travel card by Sept or Oct. to complement my travel spend. I like the idea of the CSP paired with another Chase card, but I'm concerned about the Chase 5/24 rule since I have 2 inquiries, added the OpenSky cc from 2021, and also have 3 hard inquiries from Dec 2020 & Jan 2021 when I was looking at refinancing my mortgage.
I've reconsidered and analyzed my needs and realized that all I really need is 1 travel card and 1 flat CB card and I'll be happy and done. So, those are my goals and I'm thinking the travel card needs to happen first. I like the idea of the aggressive approach you took @FireMedic1, but I think it will need to be a little more slow paced in my case. So, I am going to go for the flat CB card next year after the Disco & AmEx have aged 1 year. If I weren't doing so much travel I'd wait for the travel card until next year and do the flat CB first, but it is what it is.
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@EAJuggalo Now, that sounds more realistic! Thanks for the info. I kept seeing all kinds of references to inquiries for the 5/24 rule on the board and searched various threads for the correct answers. So I was concerned about where I was going to fall. Since I have only had 3 trade lines recently opened (2 in Feb and also the secured cc in 2021 that is now closed) I should be good to try them sometime after August as long as my score moves up to right above the 700 mark and then next Spring maybe I can app for the CFU, but I'm trying to decide if the PPC will be better than the CFU; haven't done my comparison yet since it's a year away (not in a hurry either since things change). I am shooting for 700's to get a decent SL (at least matching my Disco limit) on the CSP since I don't want to start out with a travel card with a lower limit that will be counterproductive to the type of travel arrangements I'm making.
@EAJuggalo Thank you for the info and feedback. I noticed in an earlier post you indicated that Chase is relationship based. So, this may work for me since I'm shutting down my Wells Fargo accounts, but hadn't decided where to go for my local big bank (non CU) accounts. Maybe moving there will get my foot in the door for the CSP.
Big Picture: I wasn't sure if I was going to go into the Chase eco system beyond 1 card since I kind of want my final card to be a flat cash back card and hadn't decided if the CFU fit my profile and needs. Also, I was hoping since I have a DTI of about 22%, decent income (low $100's), my Disco and AmEx were approved at $10K and $8k and the BestBuy cc is $3K, that I stood a chance at the CSP as long as I got my score to 700.
So, what are your (and anyone can chime in here) thoughts on all of this?
First AmEx CLI obtained @ 94 days. New CL is $24K!! Rebuild strategy is slowly coming together thanks to the advice I've received. Thanks to everyone in this community!!
Making strides, baby steps, and gaining on my short term summer goal...
So, my FICO jumped 1 point on EX, but I got a nice bump on TU and EQ!! Disco will report by Friday, so the scores may increase a little more ... we shall see. As of now my scores are at:
FICO 8: 683 EX / 684 EQ / 689 TU
FICO 9: 702 EX / 727 EQ / 693 TU)
Woooohooo!!! Mini celebration for breaking into the 700's, but I won't break out into a full dance floor meltdown (all the dances my teenagers have taught me that are on social media) until those F8's break into the 700's.
@Binbinimiwi wrote:Making strides, baby steps, and gaining on my short term summer goal...
So, my FICO jumped 1 point on EX, but I got a nice bump on TU and EQ!! Disco will report by Friday, so the scores may increase a little more ... we shall see. As of now my scores are at:
FICO 8: 683 EX / 684 EQ / 689 TU
FICO 9: 702 EX / 727 EQ / 693 TU)
Woooohooo!!! Mini celebration for breaking into the 700's, but I won't break out into a full dance floor meltdown (all the dances my teenagers have taught me that are on social media) until those F8's break into the 700's.
Whew! Thank goodness! Ha! Ha! We wont even mention my "dance moves" (says the old man with the two front teeth showing as he breaks it down.....HA! HA!).
And, I was going to comment on the Chase 5/24 rule but someone else clarified that. Lots and lots of people (myself included) think - for some reason - that it has to do with 5 hard pulls in the last 24 months. As mentioned by others, it has nothing to do with that but everything to do with "new accounts". Now, included in that "5" would be both open and closed accounts. So, if you opened a credit card some 18 months ago and just closed it yesterday.....that counts as one of the five (well, assuming that you were to apply for any Chase credit card within the next six months or so).
Just a little added detail on this. :-)
Starting Score: Exp 627