Curiously.... Filed BK ch.7 4/03 Discharged 7/03 1 American Pacific secured Visa w/ $300 limit 10/03 1 Auto loan that was included in BK, but told them to keep reporting with a balance and payment history post BK which they did (I checked our credit report!) I understand some mortgage would want to see 2 or 3 active credit cards before I apply for mortgage sometimes in 2005 (rather wait 2 years post BL) Since my wife and I would not want to obtain more credit cards... we think 1 is enough for us for the time being. Would Mortgage be ok if I ask one of my family to include us as AU on one or two of their long credit card's Trade Line (they have as much as 10 years to 15 years on these accounts, these accounts are perfect, no lates, no whatsoever!)? I'm not looking for easy way out, we filed for BK, that's it. We learned our lessons (nothing to do with overspending) Any advices, experiences? all is welcomed!
Check out this link on secured loans. http://consumers.creditnet.com/stra...rpage=20&highlight=secured loans&pagenumber=2 My FICO's took a jump when the account reported. Slypprslyp scores also jumped when his reported.....bottom of second page. I remember when the loan hit my report, my scores went up because of: "presence of real estate loan" being reported or something like that. I think getting these secured loans can really help with getting closer to that FICO optimal mix of credit.
