topic Re: Take the FICO Fitness Challenge! in FICO Fitness Challenge Archive

Take the FICO Fitness Challenge for 2010!

Barry — Tue, 04 Jan 2011 18:56:55 GMT

The Consumer Federation of America found that consumers could save $28 billion a year in lower credit card finance charges if they improved their credit scores by 30 points. As the New Year begins we’d like to officially announce the FICO Fitness Challenge!

The concept is simple:

Set a goal for where you’d like to see your FICO score at the end of 2010. Then with the help of our Credit Education Center and FICO Forums Community, take the steps that will help you achieve this goal during the coming year. Why not challenge yourself to get your credit in shape and start saving money?

To take the challenge tell us the following:

1. Your FICO score goal for 2010

2. Your current FICO score(s)

3. The steps you plan to take to achieve your goal

Then periodically share your progress with the FICO Forums Community and help others by providing the kind of expertise and support that earned us a prestigious Forrester Groundswell Award for social media in 2009.

Here's to a financially healthy New Year for us all!

NEW feature: Click here for the Official FICO Fitness Challenge siggy!

Message Edited by Barry on 01-13-2010 11:52 AM

Re: Take the FICO Fitness Challenge!

llecs — Wed, 06 Jan 2010 00:02:42 GMT

1) Our goal is to raise both EQ & TU FICOs to 750 & 760 respectively for both DW and myself.

2) Our current EQ/TU FICO scores as of January 1 are 642/672 for myself and 651/667 for DW.

3) The fastest way to impact our FICO scores is to paydown CC debt. DW was at 89% at the start of the year and I was approaching 70%. We began working a plan to lower our util near 0% by July 1. We are also looking to buy our first home this year too.

Re: Take the FICO Fitness Challenge!

DI — Wed, 06 Jan 2010 02:15:54 GMT

I wish I had a goal to set. I made some major accomplishments in 2009 by getting all negatives deleted. I guess it never hurts to get the FICO scores higher. I won't apply for any new credit and will let my AAoA increase.

Best wishes to all who taking part of the FICO Fitness Challenge

Re: Take the FICO Fitness Challenge!

haulingthescoreup — Wed, 06 Jan 2010 02:42:00 GMT

I'm going to be losing a big chunk of history when I drop off of an AU card. (It's done its job.) So I'm actually looking at losing points, at least initially.

So my goal isn't to increase my scores; it's to get them back. :D

Current scores: TU 765, EQ 759.

I'll do this by refraining from apping, keeping my util at essentially 0%, and working on a closed account with lates that is softed quarterly with an -AR suffix. I don't think they're allowed to do that...

Re: Take the FICO Fitness Challenge!

Sayre — Wed, 06 Jan 2010 03:15:59 GMT

My goal for 2010 is to get my FICO score up to at least 750 if not over. Currently my score is 718. I plan on raising it by no app'ing for the year and to pay down on my current debt. I am greatful to not have any negatives.

Re: Take the FICO Fitness Challenge!

TheNewWorldMan — Wed, 06 Jan 2010 06:31:55 GMT

I don't even know what my FICO score is anymore. 2009 was brutal for me...

Re: Take the FICO Fitness Challenge!

bigtim — Wed, 06 Jan 2010 12:13:23 GMT

(1) My goal is to break into the 700 club, hopefully 720+

(2) Current FICO scores: 677 TU; 691 EQ

(3) My plan is - not much - time is my greatest ally. Pay down & pay off some CCs, keep paying my SL, let my accounts age and do not open any new accounts.

2009 was a volatile year for my credit profile. I consolidated 3 or 4 student loans into one, I opened up I think 8 new charge accounts ( I only had one before this, which I was an AU on), and a couple of derogs dropped. I had a total of 20 SW alerts from July to Dec....

I have no plans to make a major purchase, such as a house or auto, and I am in no desperate hurry to raise my scores instantly, so my big plan is really nothing for now except to let accounts and inquiries age and maybe increase some CLs. I still have some derogs which aren't scheduled to drop off completely until late 2011, I'll just let them die a slow death. By early 2012 I should have a pretty clean and healthy credit profile except for a couple of things which I have no power over at the moment.

Good luck to all.

Re: Take the FICO Fitness Challenge!

msdraglox — Wed, 06 Jan 2010 18:14:33 GMT

1. My goal is to cross the 650 mark

2. My current fico is 614 (1/4/10 SW alert)

3. Pay all credit cards off, GW until my fingers bleed, Get a secured card

Re: Take the FICO Fitness Challenge!

daisyduke — Wed, 06 Jan 2010 19:51:20 GMT

1. Y/E 2010 Goal - 720 - may be difficult to achieve as I could lose some 10 year positive history....

2. Current TU 663 and EQ 682

3. I plan to keep my utilization down, continue to gw my three baddies and hope for the best....let stuff age..

Re: Take the FICO Fitness Challenge!

Uborrow-Upay — Wed, 06 Jan 2010 19:52:11 GMT

The last time I took something...they made me bring it back...

Re: Take the FICO Fitness Challenge!

heatherskib — Wed, 20 Jan 2010 23:39:34 GMT

We're just trying to find our way home!

1-So min is 620 each.... if we can do better we'll be really happy especially if we can pull it off before the tax credit deadline...

2- I'm currently at 583 and my husband is at 601.

2007-2009 were really rough on us. My husband was laid off twice- both times Unemployment got screwed up royally and never paid out, and we had to move from rental to rental 4 times in 2 years due to the owners not paying the mortgages when we paid rent.

What hurt us the most is what we were doing to fix our credit through 07 and 08 got screwed by the latest lay-off and eviction due to foreclosure. We'd opened accounts and were paying on them, but it came to a roof over our head, power and food over paying bills. So accounts went to collection agencies.

3- Everything has been paid off now and we had no open accounts except my student loans. Now we just have to rebuild, which means opening accounts and paying them off. I got my Macys card reinstated w/ a $255 limit and have been using it and paying it off on a monthly basis, and we opened a joint account to Badcock in November with a $3000 limit and purchased a $1000 TV, which we will have PIF by March. We're just hemming and hawing about opening a secured credit card w/ a $1,000 limit. We're unsure if this will help our score or not. The options are $1000 each, $2000 joint or $2000 for one or each of us.

The bonus from the last few years is we really learned how to trim fat from our budget.

If anyone has any advice- we sure could use it!

Message Edited by heatherskib on 01-20-2010 06:39 PM

Re: Take the FICO Fitness Challenge!

Maryn — Thu, 07 Jan 2010 08:31:37 GMT

Goal: 700 (but I would be thrilled with the 30 point increase)

Current scores: EQ 639 TU 643

Plan of action: Continue to pay all accounts on time and pay off revolving accounts each month

No new credit

Continue with quarterly GW efforts: Discover, Cap1 and CMI

I think this is a great idea...will keep posting.

Re: Take the FICO Fitness Challenge!

marty56 — Thu, 07 Jan 2010 10:51:43 GMT

haulingthescoreup wrote:
So my goal isn't to increase my scores; it's to get them back. :D

Not me, I would steal FICO points from a little old lady CSR who works for BofA if I could.

For me, geting to your FICO score goal seems easier then maintaining it.

Re: Take the FICO Fitness Challenge!

BungalowMo — Thu, 07 Jan 2010 12:48:30 GMT

My 2010 goal....pay down my cc bal & refi this summer after my cap 1 baddie falls off EX

Current FICO's....TU 734 (12/23/09) EQ 670 (12/21/09)

FICO goal?.... TU up past 750 & EQ above 700 going as high as it can!

Game plan.... for now I have been paying the min on cc accts because my job is likely ending in FEB & I need the available $$ possibly for bills & mortgage. As soon as employment is in the bag, hit those card balances. I was around 50% until I got the 10k nationwide card. Now at 35%, it looks good on paper, but I still owe about 8k in cc debt. I am not going to app for any more credit until this summer when several inq's fall off EQ & EX & 2 cards hit the year mark.

Sure hope it all works!!! :smileyindifferent:

Re: Take the FICO Fitness Challenge!

ppdollar — Thu, 07 Jan 2010 13:54:53 GMT

First of all Happy New Year everyone. I started my payoff to get a better score in the Summer of 2008 and now I am aiming higher.

1. My FICO score goal for 2010 is 815
2. Your current FICO score(s) is 771
3. The steps I plan to take to achieve my goal is to pay off all debt except mortgage, Refinanace to a better rate, use my credit wisely and have revolving debt that I can pay off successfully each month.

All the best and best of luck to everyone! We have made it tis far, the goal is set.......let the year begin.

Re: Take the FICO Fitness Challenge!

Nelia64 — Thu, 07 Jan 2010 13:55:52 GMT

My Goal for 2010 is to be in the 700+ club. The year 2009 was an awakening for me

and I started diligently working on my credit score which when I started back in Feb09 were in the

mid 500's and currently my scores are

EQ 654

TU 665

EX Fako 741

I had a great year and plan on having an even better 2010 when it come to taking care of my

credit. I want to shout out to all members on myFico for helping me on my journey to financial

health.

I will continue to keep my utilization under 20%. Currently due to holidays my utilization is at 40% but

that will be rectified this month. I also got a great credit gift in 2009! Capital One gave me a credit

increase of $2000 on my MC (For years my credit limit was only $300 due to bad credit management).

I will use my credit cards wisely and considering the new laws that the credit cards are raining down upon

us poor consumers I will most definitely be paying bills ON TIME:smileyhappy:

I have a couple more baddies on my report that will fall off in the 1st quarter this year. Did a hell of a lot of disputing in 2009 and I reaped the rewards but very exhausting work. I think I will just sit back this year since I do not plan

on making any big purchases until 2nd Quarter 2010.

Good Luck to Everyone taking the 2010 Fico Fitness Challenge!

Re: Take the FICO Fitness Challenge!

nurseybp — Thu, 07 Jan 2010 15:17:00 GMT

How did you get all negative removed?

Re: Take the FICO Fitness Challenge!

divasoul — Thu, 07 Jan 2010 15:32:19 GMT

1. I'd like to get my score up to 650 by the end of the year
2. My current FICO score(s) are in the low to mid 500s
3. I've already begun paying down my credit cards. Next step is to work on getting negatives deleted.

Re: Take the FICO Fitness Challenge!

wowchad — Thu, 07 Jan 2010 15:55:35 GMT

My goal also to get into the 700 club. When we applied for a home re-fi loan back in November I was at 656 EQ, 647 TU, & 671 EX.

I do have an old BK on my report that won't fall off until 2011 but I've paid all bills on-time and no past due.

(The bank showed a total of 5 Iq, 1 public record worst trade 9-?? and 18 staisfactions-?? oldest date 5/99)

I'm overdrawn $500 on a Home Eq line, (that we tried to wrap into this re-fi but since our addition isin't complete they wouldn't close.)

So I'm going to reapply for another, higher home equity line, finish up our house and then roll the HELoC into a fixed rate, contiue to pay my bills on time and hope for the best. CC debt gets paid in full every month but I'm sure my util is higher than 10% so I'm going to work on paying before the statement closes too.

Happy New Year and good luck with your goals! Chad

Re: Take the FICO Fitness Challenge!

klimtmuse — Thu, 07 Jan 2010 16:13:42 GMT

My goal for this year is to get to 650. I am not sure if I can increase those scores within a year, but I will do my best. I win the award for lowest scores so far I think. I had reasons and now they are solved, so I can only have my scores move upward. I am optimistic.

They are: Transunion: 529 Equifax: 483

I have many negative items that will delete in the next 2-3 years. I now have only 1 credit card and my loans are almost completely gone. I will pay off my credit card every month too. Any other suggestions? Thanks and Happy New Year to all.