Updates & my debt-free holiday plan...
11/20/17- Capital One emailed me to say "You're on your way to a credit line increase" $3,000 to $3,500 - at this time of writing, my statement only just generated and my first payment is only scheduled, hasn't actually withdrawn yet. With that said, I'd hope for a CLI a little higher than $500. Still a nice ego boost :-)
11/23/17-gobble gobble (=>~~~
11/29/17-3B reports refreshed, new scores with accounts listed:
EX 609 / reporting Alliant SSL, Discover, ex-H joint card / NOT reporting Cap1
EQ 634 / reporting Alliant SSL, Discover, ex-H joint card / NOT reporting Cap1
TU 583 / reporting Alliant SSL, Discover, ex-H joint card / NOT reporting Cap1
In ~6 months from filing to discharge and beginning rebuild, my scores have jumped: EX +115 EQ +148 TU +100
Just in case anyone is wondering whether it is possible to dig out of the pits.
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I am fortunate that I had done most of my holiday shopping ahead of time, so the holidays are going to be a little tight budget-wise but not as tight as they might have been otherwise through a tough year. And here’s the best thing of all: my first adult holiday with no debt.
Hopefully I can come back to this next year and see how I'm doing. This is mostly for myself but feel free to add thoughts.
a. BUDGET: Stay on cash diet. Never "float" a purchase, even for a day, period, end of story. Set realistic category amounts and stick to them. (This last is the one I need to work on)
b. PLAN AHEAD: Means you spend less in the moment, in a rush, get less caught up in holiday bins and shelves and sections. Set your budget at the beginning of the year. Begin setting aside right away. This year I began shopping by late summer and wrapped up (pun intended) the major few gifts by mid-fall.
c. SAVINGS: Your budget is for gifts over the month's/year’s time. Your savings is for emergencies. Don’t touch the savings you have, and don’t stop putting away. If you haven't started yet, don't feel bad, but don't delay.
d. CREDIT MANAGEMENT: On-time payments are imperative (autopay if necessary). Responsible utilization. Regular review of reports for accuracy. Basically, use your credit as a tool to expand your lending opportunities, not as a spending mechanism.
