Rebuilding credit after job loss?

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Joined: Thu Sep 27, 2012 11:21 pm
Location: CA

Rebuilding credit after job loss?

Postby Baxter » Thu Sep 27, 2012 11:35 pm

Up until march 2012, my credit was excellent. Fico ranged from high 700s to low 800s. Long credit history. Several auto finance and all paid.

Lost job beginning of year and began falling behind on payments. Have/had the following cards with limits:

Amex Costco: $5500
Bofa world points: $11000
BMW: $5500
Discover: $5000
Cap 1 rewards: $2500

Since then, Amex closed account, bofa closed account, and BMW just closed account. None are in chargeoff, but getting there. Pretty much snowball effect.

My car lease is up in January, and I plan on buying a used car.

Any advice on what to do to rebuild? I made a payment arrangement with Amex and now they're happy. Want to do the same with bofa and BMW to stop credit from going further south.

Thanks in advance.

Money card
Centurion Member
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Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sun Sep 30, 2012 1:20 am

I would get rid unless American express got rid of your aqua/costco card. Since your rebuilding have you looked into an orchard
visa yes they low limits but let me remind you of something YOU LOST YOUR JOB. this may not be the most exciting card, limits
of 500 but it's somewhere to start.

have you gone down to your local Bank of America and talked it over with a Branch Mgr, have you called an account mgr on the back of your card, call a couple of times sometimes when you talk to 1 account mgr they say something different from the other account mgrs

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