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Question By
mattmckenzz

3 Contributions
12 People Helped
how do I boost my credit score in my situation?
I had a bankruptcy finalized in Jan 2012. I opened 2 credit cards 2 months after the bankruptcy. Since I had these credit cards ( nfl extra points visa and first premier MasterCard) they have reported to the credit bureau every month. They have always been paid on time and never late but the credit utilization has sometimes been high and sometimes low. I recently got a auto loan and have been paying that for about 6 months. The three bad things I noticed on my credit report are the bankruptcy and a medical bill that I didn't pay $122 ( insurance was suppose to cover it). I have 22 inquiries on my credit report. about 12 were from auto loans, I was looking for the best rate ( stupid to get all those inquiries I know). I had a couple inquiries for applying for cable and my cell phone and the rest were trying to apply for different credit cards because the MasterCard I have is outrageous on interest and monthly fees. I recently learned a little more about credit and that I should pay my credit cards down to capitalize on the utilization so I paid them from 90% down to 10% but that was 40 days ago and they have not reported to the credit bureaus yet. I know not to get any more inquries but besides that what can I do to get my credit up, its at a 565 right now and hasn't moved but 5 points since the bankruptcy.

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your doing all the right things beside the bankruptcy what is holding your score down is the 22 inquires which adds up to 66-110 points off your score in otherwords in 2 years when they drop off your score will sky rocket 60+ points your doing all you can atm it just takes time and from the 90% to 10% utilization you should see a 30+ point increase guarenteed (I always list the minimum so as to not dissapoint people) but i'll put it to you another way I went from 84% to 57% and I went up 26 points but I carrying 0% apr cards and don't plan to finance anything in the next 4 months (when interest will kick in so I have 4 months to pay them off)

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