I've been reading and searching the posts for info for the best credit mixture after bankruptcy. My goals are to buy a house in three years and to have two unsecured cards in five years. Some posts say you should have 3-5 cards...some say you should have up to 10. Some say you should have a department store card, a gas card and a Visa and MasterCard. Some even push using a savings account secured loan from your bank as the best way to rebuild credit. After my bankruptcy, I will have a car loan and hopefully two department store cards. After I make sure all my credit reports show the correct info, I plan to get cards with FCNB and Sterling (I would try Cap One and Providian except they are two of my creditors on my bk). Will the car loan plus four cards be enough or should I look into a secured loan from my credit union? Thanks in advance! Cynthia
I think you are on the right track. Another installment loan would not hurt. Make sure that all loans and cc tradelines show on your CR. Try to increase your credit limits and keep your credit card debts low. Above all keep up your payments on time. The biggest factor is a timely payment history. Best regards, Mirage
Fast track to recovery, find an extended family member with good credit, have them add you as an authorized user on a card with a perfect credit history. The cards entire history will transfer to your report, This helped me start with puny unsecured cards.
