Now what to do

[woohoogirl]

My BK was discharged 6/5/08. I was apporved for a Orchard unsecured $300 limit before I got my reports clean enough. Now my scores are 628 to 665 from myfico.com. My mortgage is being reported as paying as agreed with no lates (hasn't been and won't be). My question is now what should be my next step to get my credit on track as I hope somewhere at 2 to 3 years post discharge, to purchase a nice one level home. Should I try to get another credit card like WaMu or Hooters? I BK'd Crap one, so I don't think I'll go there. I am living on a cash basis, I use my card to buy gas once a month and pay it off in full when the bill comes. Thanks for everybody's help. I'd be so lost without the wisdom of this group.

[PaKettle]

One thing is, from what I have heard, you do not want to pay OFF your cards, but rather carry a balance of about 10% up to 30% of your credit limit. What I am doing is kind of a compromise- carrying a balance for a couple months, then paying it completely off.

According to myfico.com you need to have at least a couple of credit cards in good standing, so it actually improves your credit to get a 2nd one in most cases - if you are able to pay them on time and not run them up to their limits and onlly make minimum payments.

If you have your credit all cleaned up I think you should try for another card - as to which one, I'm not sure. I heard there are some offers on the net that you can apply for that only do a "soft" pull so it won't count against you if they deny you. But I can't remember which one(s).. Maybe someone can chime in here... Or look in another forum...

If you PM me I can give you some more info...