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Cred scores in the 618-661 range. 1.5yr post-discharge. What else should I be doing?

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    Cred scores in the 618-661 range. 1.5yr post-discharge. What else should I be doing?

    My chapter 7 bankruptcy was discharged in June of 2018. I'd then had no debt until the beginning of last year, so my active credit history is comprised of 1 OpenSky CC with a $200 limit (using $200 collateral) that I pay off every month, and ~$30k in federal student loans. I make a little under $50k/year now (after overtime) but have minimal monthly expenses + rent under $600 and about $8k and rising in savings. I'd like to shoot for a better credit score by the middle of next year (when I plan on moving to a bigger/better apartment), but I don't know what scores are realistic to shoot for.
    What I have now:
    Experien 618
    Transunion 638
    Equifax 661
    Everything looks normal on my credit report.

    What can and should I do to improve my credit score within a year to year and a half? Increase the limit on my OpenSky card? Try opening another credit card? Using my credit card differently? Is it realistic to have scores of ~700 by some time next year?

    Do you pay your OpenSky before it bills? Better yet, don't use more than $10-$20 on the card. Experian is always the tough one to crack. You may want to try for an unsecured credit card from Cap One or some credit union with a higher limit. And, keep utilization (billed) before 20% and ideally at around 8%. You need to show that you can actually "revolve" debt without issue.

    The other thing that should get you a 40point boost, is to look at obtaining a small (shared secured) personal loan from a credit union. As soon as you get it, let it bill one cycle, then payoff 90% of it. Look through the internet on how to do this because you want a credit union that will keep the account open, but then, after the 90% payment, move the next payment date way out into the future (I think PenFed does this, but others do it as well.). This gives yu a "mix" of credit (installment debt) and keeps it below 10%. Keeping it open for a long time helps because the scores likes open accounts.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    I am not an attorney. Any advice provided is not legal advice.


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