01-09-2010 07:31 PM
I want to hit 680 for both EQ and TU.
My Cap1 Card and Target card will hit 1 year in March. My BoA card will hit 6 years in May.
My $9,500 car loan (not that it helps much scorewise) that I stared last April should be close to paid off, at least less than 10% util by 2011.
I'll have my last student loan rehabbed in March or April, so I'll gain some age when that gets picked up, and I'll say goodbye to the CO account.
My AAoA should be at 6 years by the end of this year.
Getting through April will get rid of ALL my inquiries for all three bureaus.
See my journal below for the full story.
01-11-2010 12:18 AM
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 08 and 09 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!
I would go with a secured card with only one of you on it. I also want to wish you luck, been where you are at and it's a rough road. Blessings to you.
01-11-2010 12:25 AM
My 2010 goal is to increase my credit score to above 600 (don't know how realistic that is but I'm going to try).
My current FICO score on Equifax is only 500. I'm not sure what the FICO is on Exp or TU b/c I have not yet purchased them.
My strategy to achieve this goal is to have negative items removed:
- clear faulty judgments
- negotiate PFDs on collection & charge off accounts
- pay bills on time (auto loan & student loans - hopefully get a lender after completing loan rehab for student loans)
- get a secured card towards end of year to rebuild credit
You can do this!I have moved up well over 150 points in the last 2 years just by paying on time and keeping my balances low. Do not give up! you will get to your goals!
01-11-2010 12:29 AM
I'm on board!!
1. My goal is to be over 600, preferably closer to 650, by the end of the year. A little lofty, considering...
2. I have a current FICO of 550. Ouch.
3. To meet this goal, I started by signing up for quarterly score tracking so I can see just how I'm doing and (hopefully) stay motivated. Using the info I gained from my first report, I am going to pay off the collections on my report this year (one will be paid off by May as part of a payment plan, the other one I need to get in contact with the agency to work out a deal or payment plan and hopefully pay it off completely this year). I also just started a debt management plan at the end of 09, and I have already seen my balances start going down (as opposed to before entering the DMP, when I would pay every penny I had and see my balances rise thanks to high interest rates) - so, I plan to continue making my payments and making sure they make it to my creditors every month. Meanwhile, just for my own financial health I am going to continue working toward building an emergency fund, no matter how long it may take me! (Right now we're putting in $15 a paycheck, though we're hoping to be able to increase that once our finances settle down a bit over the next couple months.)
you can do this! It takes a bit of time but Time heals all wounds.
01-11-2010 12:36 AM
my goal is to pay off the cc's I racked up when I injured my arm. I also had to buy christmas on my cards instead of cash. OUCH! My arm is now better and being a waitress, I'm golden. I can now make my money by being the best can be.
My goal is to be at 700..........my EQ is at 644 so I'm close! Just think, last year I was at 560. Go ME!
01-11-2010 04:06 AM
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
What is SW alert? What is GW until my fingers bleed?
Thank for any info!!!
Welcome to the forums!
I'd suggest reading the following:
Credit Scoring 101 - great for knowing what is in your credit score and to see how your score is impacted.
and What Steps Do I Take - great for learning the repair process.
SW = ScoreWatch. Score Watch is a product by myFICO and Equifax that allows you to track report and FICO score changes to your Equifax report.
"GW until my fingers bleed" is a euphemism for sending Goodwill letters over and over to request creditors to remove negative remarks from your credit report.
For more info, check out the Rebuilding Your Credit Board:
01-11-2010 05:59 AM
Some of my negatives were removed due to time lapse (old baddies that were on my report for at least 6 to 7 years).
Others I disputed through the CRA's online dispute process (late payments, incorrect reporting etc.) I also wrote GW letters (only one of my creditors refused to budge and remove the collection from my report and that was IC Systems). I also did a PFD on an old ATT bill from 2006 that resulted in a removal. So I used all tools available to me through knowledge I obtained through myFICO. It takes work and patience but it will pay off in the end. Good Luck on your
01-11-2010 09:48 AM
This year is our year, and we are not going to treat our credit like garbage anymore!
1. GOAL: Be above 650 FICO
2. CURRENT: Not sure, but scores are probably in the low 500's.
3. SOLUTION: Getting a few secured cards, PFD, DV, and GWing all baddies off the CR, and making every payment on time and perfect!
01-11-2010 10:35 AM
01-11-2010 12:06 PM
1. Your FICO score goal for 2010
2. Your current FICO score(s)
3. The steps you plan to take to achieve your goal
1. To get to 700 and stay there. Not sure if I will make it since I'm about to close on a house.. the mortgage may hurt me scorewise.
2. 661- EQ/659 TU
3. PAY IN FULL AND ON TIME. Let my past age off.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO