Improving your Credit and Credit Score

[gent30016]

in order to maximize your credit score you need 3 revolving accounts (credit cards) and one installment loan (auto loan, mortage, line of credit form the bank, etc...)

and they all need to be paid on time, all of the time. also, it benefits you to keep them under 30% of your total utility. meaning 30% of your total line of credit across all lines.

I just got out of a chp 7 bankruptcy (May 2016) because of a failed business and health issues....
I just received 2 credit cards 1st Premier and capital one (are they decent to rebuild?)
I kept my mortgage out of the bankruptcy because I had a low interest rate (3.5%) But I was late during filings due to illness. but caught up now..
What else do I need to complete the credit picture to regain some footing on credit score...? I know the filing will impact for a few years

any input is welcome...

Oh and I am also newly employed again...

 

[veritech]

I just got out of a chp 7 bankruptcy (May 2016) because of a failed business and health issues....
I just received 2 credit cards 1st Premier and capital one (are they decent to rebuild?)
I kept my mortgage out of the bankruptcy because I had a low interest rate (3.5%) But I was late during filings due to illness. but caught up now..
What else do I need to complete the credit picture to regain some footing on credit score...? I know the filing will impact for a few years

any input is welcome...

Oh and I am also newly employed again...

right out of chap 7 any "almost" any card is a decent rebuilder. however, are those unsecured or secured lines? in order to paint a complete healthy credit picture you will need to have three revolving credit lines and an installment loan of some sort. right now your mortgage may be helping you with the installment part.

at first chance i would close that 1st premier and get 2 more reputable credit cards. at that point you just need to make sure that you pay everything ON TIME, ALL OF THE TIME. once you start doing that and everything ages you will be golden. unfortunately that chap 7 is with you for the next 7 years. but since you already have a house that is not as bad as you may think it looks. you already have a house.

my advice for anyone looking to learn how to get ahead of and master this credit system is to do your own research. I learned alot from these sites here:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/bd-p/rebuildingcredit

https://creditboards.com/forums/ind...ort_by=Z-A&sort_key=last_post&topicfilter=all

also this thread in particular is really inspirational. this dude started off with with scores in the mid 500's and a $300 dollar secured crap credit card. he now has scores in the 800's and can do and get anything he wants. this thread is 45+ pages but it is so worth it. i read the whole thing in one night the first time i saw it. it is a very good read.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CREDIT-REBUILD-PROJECT-LOG/td-p/290152

here is his first post:

Hey there... I started reading this forum in June 2008 and have begun the long journey of recovering my credit. I have decided to log my activity as I take this journey for two reasons. First, if anyone has suggestions or critiques, I would love to hear it. Second, if anyone is about to start a similar project, they may learn from my mistakes.

So, here we go!

6-4-2008 - Denied for multiple CC apps, seeking a new gas card. went online and pulled all 3 fico reports:

EXP - 577 EQU - 530 TRANS - 542

This is when I began reading everything I could on these forums. I found that much of my report was inaccurate or outright did not belong to me. I began the dispute process as soon as I had a clear understanding about how it worked.

 

[veritech]

I have 3 store cards. Best Buy, Amazon, and Target. Best Buy and Amazon both offer 0% financing when buying something over $199 with them.

as long as you have a need for the card and it fits your spending habits the cards are not necessarily bad. as you stated getting 0% for 6, 12 or 24 months is really good. the problem is alot of people get the 0% then don't pay it off. at which point they get all of the back interest added and start paying upwards of 30% interest. crazy.

as long as the purchase is paid off in the 0% time frame there is nothing to complain about.

 

[Flawless]

as long as you have a need for the card and it fits your spending habits the cards are not necessarily bad. as you stated getting 0% for 6, 12 or 24 months is really good. the problem is alot of people get the 0% then don't pay it off. at which point they get all of the back interest added and start paying upwards of 30% interest. crazy.

as long as the purchase is paid off in the 0% time frame there is nothing to complain about.

Fuck that, I don't have time watching my calendar for when the promo ends. Pay off your card every month and you won't have to worry about what your apr is. If I have a big purchase coming up I make sure i have enough money to out right buy it then put it on my card and pay it off when the statements comes.

 

[ugk]

Fuck that, I don't have time watching my calendar for when the promo ends. Pay off your card every month and you won't have to worry about what your apr is. If I have a big purchase coming up I make sure i have enough money to out right buy it then put it on my card and pay it off when the statements comes.

man shut the fuck up.

 

[Flawless]

man shut the fuck up.

Stay paying interest and thinking you are gaming the system dumbass

 

[ugk]

Stay paying interest and thinking you are gaming the system dumbass

Learn to read you fucking illiterate bitch.

Amazon and Best Buy offer 0% for 6 to 18 months if you buy through them. That's ZERO INTEREST if you pay it off within the time frame.

 

[Flawless]

Learn to read you fucking illiterate bitch.

Amazon and Best Buy offer 0% for 6 to 18 months if you buy through them. That's ZERO INTEREST if you pay it off within the time frame.

Hey faggot I guess you missed the part what I said about watching my calendar. If you don't pay off the purchase in time you get hit with a shit load of interest also all your payments will go towards all your new non qualified purchases. You think amazon is in the business of doing favors? They know suckaz like you will never pay off your card in time and they will recoup all that lost interest.

 

[gent30016]

right out of chap 7 any "almost" any card is a decent rebuilder. however, are those unsecured or secured lines? in order to paint a complete healthy credit picture you will need to have three revolving credit lines and an installment loan of some sort. right now your mortgage may be helping you with the installment part.

at first chance i would close that 1st premier and get 2 more reputable credit cards. at that point you just need to make sure that you pay everything ON TIME, ALL OF THE TIME. once you start doing that and everything ages you will be golden. unfortunately that chap 7 is with you for the next 7 years. but since you already have a house that is not as bad as you may think it looks. you already have a house.

my advice for anyone looking to learn how to get ahead of and master this credit system is to do your own research. I learned alot from these sites here:

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/bd-p/rebuildingcredit

https://creditboards.com/forums/ind...ort_by=Z-A&sort_key=last_post&topicfilter=all

also this thread in particular is really inspirational. this dude started off with with scores in the mid 500's and a $300 dollar secured crap credit card. he now has scores in the 800's and can do and get anything he wants. this thread is 45+ pages but it is so worth it. i read the whole thing in one night the first time i saw it. it is a very good read.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/CREDIT-REBUILD-PROJECT-LOG/td-p/290152

here is his first post:

Good looking on the links I will be reading on my spare times...

both cards are unsecured cards....I get lots of offers as of lately but I am not wanting to go chasing after alot
and have a bunch of inquiries on my profile...either..

 

[veritech]

Fuck that, I don't have time watching my calendar for when the promo ends. Pay off your card every month and you won't have to worry about what your apr is. If I have a big purchase coming up I make sure i have enough money to out right buy it then put it on my card and pay it off when the statements comes.

i am with you when you are right.....

 

[veritech]

both cards are unsecured cards....I get lots of offers as of lately but I am not wanting to go chasing after alot
and have a bunch of inquiries on my profile...either..

smart man.

 

[havelcok]

I pulled my report

i'm at 780's in both transunion and experian

but my equifax has me at670

anyone experience this?

i have no debt, nothing in collections, last inquiry was july

 

[prospect]

I pulled my report

i'm at 780's in both transunion and experian

but my equifax has me at670

anyone experience this?

i have no debt, nothing in collections, last inquiry was july

I'm not an expert. But that sounds like one or all your credit related accounts aren't reporting to all 3 bureaus. I ran into that problem myself and still working on correcting it. If you signed up with myfico.com, it actually tells you in your 3B report what on time payments and etc are reporting to what bureau.

 

[CybaCipha]

I'm not an expert. But that sounds like one or all your credit related accounts aren't reporting to all 3 bureaus. I ran into that problem myself and still working on correcting it. If you signed up with myfico.com, it actually tells you in your 3B report what on time payments and etc are reporting to what bureau.

Yeah I'm 814 today on one but 700 and change on the others. Not all 3 getting all the info.

 

[Camille]

I haven't read the pdf yet, and can't vouch for the info, but click the link in the tweet to download it.

 

[Mrfreddygoodbud]

Oh I hear the federal govt is planning on forgiving billions in student loans ....

 

[Non-StopJFK2TAB]

Oh I hear the federal govt is planning on forgiving billions in student loans ....

You have heard wrong.

 

[Mrfreddygoodbud]

You have heard wrong.

What is this then

An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion in estimated loan volume U.S. students are expected to take out between 1995 to 2017, according to a Wednesday report from theGovernment Accountability Office.

The report, which criticized the Education Department for understating the cost of government debt relief programs, noted that another $29 billion in loans would be discharged.


https://www.google.com/amp/www.wsj.com

Link not working just Google the first sentence of the paragraph and add wall street journal then search.....

 

[havelcok]

anyone got any tips on credit card for travel/miles?

 

[playahaitian]

What is this then

An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion in estimated loan volume U.S. students are expected to take out between 1995 to 2017, according to a Wednesday report from theGovernment Accountability Office.

The report, which criticized the Education Department for understating the cost of government debt relief programs, noted that another $29 billion in loans would be discharged.


https://www.google.com/amp/www.wsj.com

Link not working just Google the first sentence of the paragraph and add wall street journal then search.....

http://fortune.com/2016/11/30/student-loans-debt/

The U.S. Will Forgive at Least $108 Billion in Student Debt
Lucinda Shen
Updated: Nov 30, 2016 11:51 AM Eastern
Students will see more of their debts forgiven than previously thought.

An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion in estimated loan volume U.S. students are expected to take out between 1995 to 2017, according to a Wednesday report from the Government Accountability Office.

The report, which criticized the Education Department for understating the cost of government debt relief programs, noted that another $29 billion in loans would be discharged.

Congress approved the plans to relieve students' debt burden by lowering the monthly payments by borrowers, and forgiving any unpaid loans after 10 to 20 years. In 2010, President Barack Obama extended the program with some changes for federal loan borrowers. The amount of debt forgiven could also continue to grow as more and more students enroll in the program

But with the incoming Donald Trump administration and the Republican-majority Congress, parts of the program could be dismantled, according to Reuters. Specifically, the incoming administration may choose to end rules that make it easier for students who were defrauded by for-profit colleges to have their loans forgiven.​

 

[playahaitian]

http://www.wsj.com/articles/u-s-to-...on-in-student-debt-in-coming-years-1480501802

https://www.msn.com/en-us/news/mone...-dollar108-billion-in-student-debt/ar-AAkXQGP

 

[Mrfreddygoodbud]

http://fortune.com/2016/11/30/student-loans-debt/

The U.S. Will Forgive at Least $108 Billion in Student Debt
Lucinda Shen
Updated: Nov 30, 2016 11:51 AM Eastern
Students will see more of their debts forgiven than previously thought.

An estimated $108 billion or more in student loans will be forgiven over the next 10 to 20 years, thanks to federal programs that help ease the financial burden for those attending higher education institutions. That figure is roughly one-third of the $352 billion in estimated loan volume U.S. students are expected to take out between 1995 to 2017, according to a Wednesday report from the Government Accountability Office.

The report, which criticized the Education Department for understating the cost of government debt relief programs, noted that another $29 billion in loans would be discharged.

Congress approved the plans to relieve students' debt burden by lowering the monthly payments by borrowers, and forgiving any unpaid loans after 10 to 20 years. In 2010, President Barack Obama extended the program with some changes for federal loan borrowers. The amount of debt forgiven could also continue to grow as more and more students enroll in the program

But with the incoming Donald Trump administration and the Republican-majority Congress, parts of the program could be dismantled, according to Reuters. Specifically, the incoming administration may choose to end rules that make it easier for students who were defrauded by for-profit colleges to have their loans forgiven.​

that would prove just how anti citizen and pro corporation the trump mob really is.....

 

[CybaCipha]

I pulled my report

i'm at 780's in both transunion and experian

but my equifax has me at670

anyone experience this?

i have no debt, nothing in collections, last inquiry was july

Yeah, 2 of the credit bureaus are missing one of my mortgages. idgaf and I'm not tellin.

My score is 730 on one and 777? on the other ones now. Score dropping due to increase in debt utilization.

I forgot that I already replied to this but advice is the same ... see if they have all the same information.

 

[CybaCipha]

anyone got any tips on credit card for travel/miles?

hxxp://thepointsguy.com/2017/01/transcon-flight-hotel-package-with-upside/?utm_source=TPG+Daily+Newsletter&utm_campaign=5ce1c57d88-TPG+Daily+Newsletter+MC&utm_medium=email&utm_term=0_2b0b8ee2b7-5ce1c57d88-44602097

 

[Mr. Met]

 

[Adam Knows]

I just got out of a chp 7 bankruptcy (May 2016) because of a failed business and health issues....
I just received 2 credit cards 1st Premier and capital one (are they decent to rebuild?)
I kept my mortgage out of the bankruptcy because I had a low interest rate (3.5%) But I was late during filings due to illness. but caught up now..
What else do I need to complete the credit picture to regain some footing on credit score...? I know the filing will impact for a few years

any input is welcome...

Oh and I am also newly employed again...

do you have any friends that own property? they can "lease" you something and report payment to bureaus

people knock services like netfirst platinum BUT they boost your credit scores by signing up with them, i started doing a similar thing myself.

https://netfirstplatinum.com/a/pg3_app.php


it's really a bs credit line with them for bullshit items, but you aren't keeping it to actually buy shit you are keeping it so they report to the bureau every month. i'd offer my services but niggas turned me doing this for bgol members:

Got the Yamaha HTIB and Panny Blu-Ray player today from UPS.

Box was big and heavy, but the UPS man helped me carry it downstairs.

Good looks Don ... look forward to doing business with you again.

My shit came today!!

into somehow me stealing their money

 

[gamersfuel]

one of the most important things about building or rebuilding your credit is making wise decisions from this point on. Leave all the negative shit in the past. No late payments especially. With age, your score will improve, old negatives will eventually fall off. it's just a matter of saying: "From this point on i'm going to stay on top of my shit".

 

[ScottyPiffen745]

Went from having no credit to a score of 707 in only 6 months

 

[3rd__Optic]

^^^

Will show this to my homie. He's taken some hits on his credit

 

[theoriginalgreatone]

I'll be back

 

[Kemo07]

Bump!!

 

[DingoMan]

Anyone every heard of getting a CPN or the legitimacy of them? Old head from work been trying to school me on them but I'm skeptical AF. She's some light if you have any info.

 

[jagu]

What's CPN?

 

[Mr.Chuckles]

Jam Pony

 

[Uncontainable_Spirit]

bump