help me improve

[Anonymous]

Help me get better..

I filed BK Chapter 7 in 2015 and was discharged in 2015.

Since discharge I have opened the following,

Cap One with $3500.00 limit with a 0 balance

Discover $4970.00 limit with a 0 balance

lowes/synchrony $3300.00 limit with a $2000.00 current balance at 0% from buying a new fridge and washer/dryer

Amazon $2300.00 limit with 0 balance

Care credit $2000.00 limit with 0 balance

two open auto leases with Toyota Financial

one has a balance of $16,246.00 3 of 36 payments made

one has a balance of $1,411.00 with 28 of 36 payments made

My house which was reaffirmed has a balance of 118K

and i opened a heloc of 35K last year due to major leak and structural damage that currently has a balance of 28K

scores currently are ( pulled just recently by the bank where I work ) as we were going to buy a house but sold before we got the offer in.

Trans 718

Equifax 680

Experian 679

Credit karma ( just fako ) shows

Trans 705

Equifax 690

but i want to get over 700 on all 3

What should/Can I do? I know probably just paying off or down the lowes to under 28.9% might help?

any other thoughts?

[Anonymous]

I filed BK Chapter 7 in 2015 and was discharged in 2015.

Since discharge I have opened the following,

Cap One with $3500.00 limit with a 0 balance

Discover $4970.00 limit with a 0 balance

lowes/synchrony $3300.00 limit with a $2000.00 current balance at 0% from buying a new fridge and washer/dryer

Amazon $2300.00 limit with 0 balance

Care credit $2000.00 limit with 0 balance

two open auto leases with Toyota Financial

one has a balance of $16,246.00 3 of 36 payments made

one has a balance of $1,411.00 with 28 of 36 payments made

My house which was reaffirmed has a balance of 118K

and i opened a heloc of 35K last year due to major leak and structural damage that currently has a balance of 28K

scores currently are ( pulled just recently by the bank where I work ) as we were going to buy a house but sold before we got the offer in.

Trans 718

Equifax 680

Experian 679

Credit karma ( just fako ) shows

Trans 705

Equifax 690

but i want to get over 700 on all 3

What should/Can I do? I know probably just paying off or down the lowes to under 28.9% might help?

any other thoughts?

[SouthJamaica]

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@Anonymous wrote:

Help me get better..

I filed BK Chapter 7 in 2015 and was discharged in 2015.

Since discharge I have opened the following,

Cap One with $3500.00 limit with a 0 balance

Discover $4970.00 limit with a 0 balance

lowes/synchrony $3300.00 limit with a $2000.00 current balance at 0% from buying a new fridge and washer/dryer

Amazon $2300.00 limit with 0 balance

Care credit $2000.00 limit with 0 balance

two open auto leases with Toyota Financial

one has a balance of $16,246.00 3 of 36 payments made

one has a balance of $1,411.00 with 28 of 36 payments made

My house which was reaffirmed has a balance of 118K

and i opened a heloc of 35K last year due to major leak and structural damage that currently has a balance of 28K

scores currently are ( pulled just recently by the bank where I work ) as we were going to buy a house but sold before we got the offer in.

Trans 718

Equifax 680

Experian 679

Credit karma ( just fako ) shows

Trans 705

Equifax 690

but i want to get over 700 on all 3

What should/Can I do? I know probably just paying off or down the lowes to under 28.9% might help?

any other thoughts?

---

I hate to tell you, but you're doing everything just right. You're doing fantastically well. Just keep on doing as you have been doing.

You will be over 700 across the board within months.

[SouthJamaica]

I filed BK Chapter 7 in 2015 and was discharged in 2015.

Since discharge I have opened the following,

Cap One with $3500.00 limit with a 0 balance

Discover $4970.00 limit with a 0 balance

lowes/synchrony $3300.00 limit with a $2000.00 current balance at 0% from buying a new fridge and washer/dryer

Amazon $2300.00 limit with 0 balance

Care credit $2000.00 limit with 0 balance

two open auto leases with Toyota Financial

one has a balance of $16,246.00 3 of 36 payments made

one has a balance of $1,411.00 with 28 of 36 payments made

My house which was reaffirmed has a balance of 118K

and i opened a heloc of 35K last year due to major leak and structural damage that currently has a balance of 28K

scores currently are ( pulled just recently by the bank where I work ) as we were going to buy a house but sold before we got the offer in.

Trans 718

Equifax 680

Experian 679

Credit karma ( just fako ) shows

Trans 705

Equifax 690

but i want to get over 700 on all 3

What should/Can I do? I know probably just paying off or down the lowes to under 28.9% might help?

any other thoughts?

[Anonymous]

Taking down your Lowe's card which is at probably 60% or so utilization will help some.  Perhaps you'd pick up 10 points from getting it back down to an ideal spot.  Outside of that, nothing but time is going to help.  During that time, simply never miss a payment, keep utilization low and don't apply for any credit.  Once your youngest account (maybe your HELOC?) reaches 12 months in age you should see around a 20 point increase on your FICO scores.  Also any scoreable inquiries will be gone around that time or shortly after.

You mentioned the BK from 2015.  Do you have any other negative information present on your CR outside of that, especially more recent?

[HeavenOhio]

Is it possible that the balance on the HELOC might count as one's highest utilized line of revolving credit?

[Anonymous]

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@HeavenOhio wrote:

Is it possible that the balance on the HELOC might count as one's highest utilized line of revolving credit?

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I guess it would depend on how it's coded.  I always thought most were viewed as installment loans.  I know my pops had one that was seen as an installment loan... but I have no personal experience with them.

[Anonymous]

The heloc is recorded as a conventional mortgage and installment on the CR. I have no lates before the BK and none after ( just the few months while filing the BK ) But nothing in the 13 years of history before the BK and non after discharge.  Long story short I had a son with special needs that ended up needing an insane amount of private therapy and medical air ambulance trips that racked up tons of charges on my cc's and i wiped them all out once he was clear.

The newest account is my wifes lease and the heloc was opened in june of 2018 while her car ( joint ) was opened in Dec. The bad news is my lease is up in 5 months and will have to add another new acct to my report ( ugggghhhh ).

Account Details

Account status OPEN Type Conventional RE Mortgage Responsibility Joint Account Remarks No Info Times 30/60/90 days late 0/0/0 Closed No Info

[Anonymous]

Sounds like you'll have no choice but to drop your AoYA to 0 months again then.  I still suggest gardening outside of that one account.

[Anonymous]

What does gardening mean?

[azguy13]

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@Anonymous wrote:
What does gardening mean?

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Gardening is essentially not trying to obtain credit. Think of it as "growing your score" by not taking any hits to inquiries, AAoA, etc. 

[NRB525]

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@Anonymous wrote:

The newest account is my wifes lease and the heloc was opened in june of 2018 while her car ( joint ) was opened in Dec. The bad news is my lease is up in 5 months and will have to add another new acct to my report ( ugggghhhh ).

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As noted by the others above, you are doing it right for the payments. Time and payments on time are your best friend now.

But why are you leasing Toyotas? Why not buy?