Hi everyone, I am at that point where I think it may be time to start rebuilding my credit. I currently have 2 student loans that I have never been late on and was wondering if I should try to apply for a credit card or is the student loan enough for rebuilding? My husband has no loans but did reaffirm two cars in our chapter 7 and has since paid them off. He has been getting offers from our credit union to apply (no wording that says he was pre-qualified) for one of their visa cards. He absolutely hates the idea of getting another credit card but I think now is the time to start rebuilding. What are your opinions here?
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08-2009:Quit Paying Credit Cards
04-2010:Hired 2nd Attorney;05-2010:Filed 7
06-2010:341 Meeting (went very well)
08-24-2010: Discharged; 09-02-2010 Closed!! -
The right "mix" is also a factor for the best credit. In addition, your utilization on a revolving-account like a CC is one of the main factors of a high credit-score. So if you don't have a CC, you won't get a great credit-score.
What about obtaining a secured credit-card?Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706. -
Student loans help your credit very little. They help a bit with aging, but for the most part, they are kept separate in the scoring models from other types of credit such as credit cards, car loans, and mortgages.You can't take a picture of this. It's already gone. ~~Nate, Six Feet UnderComment
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