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Valued Contributor
maiden_girl
Posts: 1,772
Registered: ‎12-29-2011

Re: Time to cut spending

I have significantly cut my spending habits--I paid off two credit cards this year so I'm really proud of myself. Now I'm working on getting my balances down to 0 on these others and laying off the credit cards.

 

Currently:

 

$2900/4500 Chase Freedom

$1800/5500 Ashley Furniture

$22/1500 Walmart Discover (the low balance doesn't really count does it? hahaha)

 

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (3.0k) | Chase Freedom NPSL | Citi Simplicity (8.0k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Frequent Contributor
racer-x
Posts: 329
Registered: ‎09-16-2012

Re: Time to cut spending

maiden_girl - I had a $32 balance report for the first time on my $700 Walmart, and my EQ dropped 7 pts.

Reason simply said 'account showing a balance'.

I purposely left the balance on there, since it was the lst purchase that I had used with the card, I thought it was a good thing to show a 4% balance.

 

So yeah, your $22 Walmart could very well be affecting your score by a few points.  YRMV of course.


Starting Score 9/12: EQ 645 TU 641 EX 651
Current Score5/13: myFico EQ 687 DicoverTU 705 myFico EX 738
Goal Score: 750

US Bank PLOC-$15K, CSP-$15k, Chs Freedom-$6k, CapOne/HSBC Visa-$15k, US Bank Visa- $10k, DCU Visa-$10k, Paypal Xtras MC-$15k, USAA MC-$6k, Lowes-$8600, CapOne Visa-$10k, Discover IT-$12.9K, BoA Visa-$10.1K, Walmart -$4k, GECU Visa-$3500, US RLOC-$750

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Contributor
greenpang
Posts: 81
Registered: ‎11-27-2012

Re: Time to cut spending


Duncanrr wrote:
Reward points aren't great. I will get another charge card later and ill convert them to the better version of Amex points (cat remember the names of the points right now).

I wish my cats would keep track of rewards programs! :smileywink:

Credit Scores: FICOs: TU 721 | Plus FAKOs: EX 726, EQ 739, TU 735 | CK FAKOs: Transrisk 689, Vantage 790
My Wallet: Amex Green (NPSL) | Amex SPG (21.6K) | Citi ThankYou Preferred (10.5K) | Amex BCE (8K) | US Air Premier MC (9.5K) | Chase Sapphire Preferred (8.5K) | Chase Freedom (5K) | Barclays Arrival (5K) | Pier 1 (2.5K) | Express (0.8K) | Kohl's (0.5K)
DH's Wallet (AU): Amex PRG (NPSL) | Chase Sapphire Preferred (26.2K) | Amex Delta (22.5K) | Barclays Arrival (12.8K) | CareCredit (8K) | Amex BCE (7.5K) | Chase Freedom (7K) | Sears Citi (6K) | Victoria's Secret (1K)
Valued Contributor
kevinjjc
Posts: 1,267
Registered: ‎01-14-2009

Re: Time to cut spending


maiden_girl wrote:

I have significantly cut my spending habits--I paid off two credit cards this year so I'm really proud of myself. Now I'm working on getting my balances down to 0 on these others and laying off the credit cards.

 

Currently:

 

$2900/4500 Chase Freedom

$1800/5500 Ashley Furniture

$22/1500 Walmart Discover (the low balance doesn't really count does it? hahaha)

 


Congrats, keep up the great progress! I predict a bright credit future for you. :smileyhappy:

Valued Contributor
maiden_girl
Posts: 1,772
Registered: ‎12-29-2011

Re: Time to cut spending


racer-x wrote:

maiden_girl - I had a $32 balance report for the first time on my $700 Walmart, and my EQ dropped 7 pts.

Reason simply said 'account showing a balance'.

I purposely left the balance on there, since it was the lst purchase that I had used with the card, I thought it was a good thing to show a 4% balance.

 

So yeah, your $22 Walmart could very well be affecting your score by a few points.  YRMV of course.


Lol. I'm only letting it report to show usage. It's been 4 months no use since opening. I really only have it for the free FICO but I don't want to get my account closed so I use it for redbox rentals. Lol. I don't think a 22 balance is hurting as much as my 29 inquires. LOL. (Auto loan)

 


kevinjjc wrote:

maiden_girl wrote:

I have significantly cut my spending habits--I paid off two credit cards this year so I'm really proud of myself. Now I'm working on getting my balances down to 0 on these others and laying off the credit cards.

 

Currently:

 

$2900/4500 Chase Freedom

$1800/5500 Ashley Furniture

$22/1500 Walmart Discover (the low balance doesn't really count does it? hahaha)

 


Congrats, keep up the great progress! I predict a bright credit future for you. :smileyhappy:


Thanks! Hahaha! I can't wait to get rid of all my credit debt and see how much my credit has improved with just my loan reporting.

 

 

 

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (3.0k) | Chase Freedom NPSL | Citi Simplicity (8.0k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015

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