Made big progress today!
I went to my Credit Union and opened a "share secured loan" for $800. They take money from your savings account or CD (savings in my case) and 'loan' it to you. The rate at my CU was 4.25% for 12 months, and it reports to all 3 credit agencies. Its supposed to be a lot better for rebuilding credit than credit cards alone, because it is 'installment' credit vs. 'revolving' credit.
My credit score has recovered quite a bit since my discharge (April 09), where it stood at 417. After getting an Orchard Bank credit card, and a Credit One card, my score jumped to 596. After I acquired the Hooters Card (haha), my score is now 650
Looking forward to the 700's again some day.....
Just an FYI for those of you who belong to a credit union and want to rebuild your credit.
My credit score has recovered quite a bit since my discharge (April 09), where it stood at 417. After getting an Orchard Bank credit card, and a Credit One card, my score jumped to 596. After I acquired the Hooters Card (haha), my score is now 650
Looking forward to the 700's again some day.....Just an FYI for those of you who belong to a credit union and want to rebuild your credit.
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