The dreaded credit rebuild after chap 13 discharge.

[Clay3007]

Finally after 5 long years I was discharged on 12-2. On 12-5 I had an email from experian saying my credit report had changed so I looked in to it. I was showing a 0 credit score. Not sure why so I checked credit karma and it was showing a 708. Decided to apply for a capital on card and was instantly approved for $5k unsecured. I was shocked.

we will need a new car in the next few months as my 22 year old Chevy cavalier I have been patching together for 4 years is well to say on its last leg her from northeast Ohio winters.

[Carmella]

Congrats on the discharge and the end of the BK era!!

A score of does that mean you didn't have car payments or house payment?

Our scores were around 600 something, but we had the HEL and two car payments.

I am sure you will be able to bring the score up by doing the right things to play the game. I would love to have a zero with no debt and not have to play the game. But I need to play the game...

[shipo]

One thing to keep in mind regarding scores, Credit Karma, Wallet Hub, et-al. do not provide FICO scores and as such are irrelevant when it comes to obtaining new credit. The only true FICO score available which is generally free is the FICO 8 score from Experian.

Clay3007, use that CapOne card for everything you would otherwise have paid cash for or used a debit card for; pay it off every month, and rinse and repeat for six months; suddenly you'll have a true FICO score.

[rodsren]

Dear Clay 3007: FICO 8 if still in the 630-640 levels at the three bureaus (I pay Experian 24.99/month to get new FICO 8 scores from all three every 30 days). FICO 9 is almost 700, and this is 4 months out. I took the bail for a Merrick bank 1,500 no fee with 3,000 after 7 months on time. No real benefits to the card other than a lower utilization to the total credit amount, but my last inquiry is just 2 months old. I think the next step is a SSL through Navy Credit for 3K and pay almost all the way off. All the "understanding your credit" say that a lack of a recent installment loan is hurting the score. Hopefully, that and then doing a 5K secured card will pump things up. I just have not had 5,000 (or 8,000 if you include the load) burning a hole in. my pocket.

[Clay3007]

Congrats on the discharge and the end of the BK era!!

A score of does that mean you didn't have car payments or house payment?

Our scores were around 600 something, but we had the HEL and two car payments.

I am sure you will be able to bring the score up by doing the right things to play the game. I would love to have a zero with no debt and not have to play the game. But I need to play the game...

No car payment it was paid off in the bk case and we do owe on our house plus student loans so.

[Clay3007]

One thing to keep in mind regarding scores, Credit Karma, Wallet Hub, et-al. do not provide FICO scores and as such are irrelevant when it comes to obtaining new credit. The only true FICO score available which is generally free is the FICO 8 score from Experian.

Clay3007, use that CapOne card for everything you would otherwise have paid cash for or used a debit card for; pay it off every month, and rinse and repeat for six months; suddenly you'll have a true FICO score.

I know they are not true scores. That’s the plan! Hoping to stash all my cash in my Hysa and then make one payment on the card to hopefully gain some interest on it.