- Centurion Member
- Posts: 362
- Joined: Wed May 30, 2012 8:10 pm
- Location: Baltimore
To piggyback on the score issue, Experian uses their own scoring system known as PLUS. Somewhere on their site, it should say something along the lines of "for educational/informational purposes only [...] not used by lenders." As MemberSince99 said, most major lenders (not all -- I have no clue what scoring model Chase uses) use scores that are based upon the FICO scoring model. It's my opinion that if you're only paying for a score, anything other than a FICO is basically throwing money away.
I will diverge from his advice above a bit, however, and implore you not to waste your time with thieves such as First Premiere or Credit One if you haven't already. The fees they charge are simply outlandish. I've heard some people try and brush it off, saying things like "it costs money to rebuild credit," but it should never be the exorbitant amounts that those types of lenders charge. You're definitely on the right track looking into a credit union. To be honest with you though, you have acquired 4 cards post-BK -- that's plenty. Letting that BK age more before going app happy would be my advice to you.
You also mentioned transferring balances to the prospective card. Are you carrying balances on your existing cards? If so, what are the balances and limits of each? That can be another huge hurdle if you're utilizing a large portion of your available credit, especially after BK. It might not even be that you're carrying high balances so much as letting the high balances report. If you're the type to use a card throughout the month and PiF when you get your bill, try adjusting your technique to paying those balances off before your statement cuts (since accounts usually report to the credit bureaus on the statement closing dates -- verify this with your respective accounts' institutions before you commit to this strategy). That way it will look like you're using a very small amount (or none, either is good) of your available credit which greatly helps your score.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13