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lilyfairy

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  1. Hi all, This is my first post, as I am new here. My husband and I recently filed Chapter 7 BK and it has been discharged since September 2014, we are now wanting to rebuild our credit, our scores are both just shy of 600, (my husbands score shot up 87 points AFTER BK was filed...mine went up by 1 point...weird huh) We are thinking we will need to get a secured credit card, which is fine, but do not know who to go with? We currently bank at a local credit union and thought of going through them, but wanted to make sure it was reported to all 3 credit bureaus, So should we go for a MAJOR company such as Capital One? What do you guys recommend? Any help/advice would be great! Also we were advised by someone else rebuilding their own credit, to only use 10% of credit card limit and pay off on time each month to get BEST credit rating. So only use $30 on $300 limit and NO more. Does that sound right to anyone else? We want to make sure to do this right. We are not in NEED of a credit card, but just want to use one to improve our credit so one day we can buy a house. We currently have NO credit cards, No car loans, No personal loans, No retail credit cards, Nothing that is reporting to credit bureaus. We are in need of getting a small car loan ($5k or less) some time soon (within 6 months) should we apply for that now? or wait till we have had credit card for a few months to show on time payment history? What would be the best scenario? I don't wanna add too many "inquiries" to our credit reports right after filing BK, so trying to do this wisely. Thanks again for your help!
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