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New Contributor
zamiller1110
Posts: 75
Registered: ‎02-06-2012
0

Re: Getting to 620...

Definitely keep us posted! I love reading other people's progress. We're in a similar situation and I hate having to wait for companies to report the new balance to see how much our credit score has gone up. Waiting and wondering is driving me nuts!

Established Contributor
MBOhio2
Posts: 945
Registered: ‎02-07-2011
0

Re: Getting to 620...

repo-ed - Haha! I started this thread for advice, but then I found it helpful to document everything I was doing, the effects each action had, etc. Now, I'm hoping that when my journey is all said and done, it will be helpful for others to see my path and be able to benefit from it, so I'm glad you've found it interesting!

 

kwesi - Yes, the 5 current student loans with the comments and all 11 charged-off SLs are all with AES. When you say that you can "help me" with the AES loans, what exactly are you referring to? Any help and advice is MUCH appreciated! I'll PM you now so you can just reply.

 

Thanks for all the support everyone!

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
Jan 2012 Current Scores: FICO EQ 604 FICO EX ??? TU98 623
Feb 2012 Goal Scores: EQ 620 EX 620 TR 620 (or just the middle to be 620!!)
Frequent Contributor
Catacam
Posts: 491
Registered: ‎02-06-2012
0

Re: Getting to 620...

Love reading your progress!!! Eagerly waiting for the results! Good luck and positive energy going your way!

CLOSED ON OUR FIRST HOME MAY 30TH!!!


Starting Score: TU 589 EQ 526 EX603
Current Score: TU 635 EQ 603 EX ??
Goal Score: 750


Take the FICO Fitness Challenge

Established Contributor
aussiesareforever
Posts: 741
Registered: ‎10-04-2010
0

Re: Getting to 620...

Waiting to hear how things go for you too. Getting emotionally prepared for the house buying experience in the next year or two :smileyhappy:

 

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)

Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: Getting to 620...

I started a debt/financial Journal the last week.  I'm hoping that perhaps I can provide similar help to those possibly in a similar situation, at that time (but everyones situation is unique)

 

I hope we all meet w/e goal we have, that's for sure, even though the paths might be a bit different.

5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Established Contributor
MBOhio2
Posts: 945
Registered: ‎02-07-2011
0

Re: Getting to 620...

UPDATE:

 

For the one CC that was reporting a $15 balance, it's billing cycle closed on Feb 10th and, as of today, has already updated to $0 with EX (I have a subscription with Experian where I can pull update credit report data every day). In the past, I've found that EX is usually the quickest to update and TU and EQ always have a lag of a few days before they update. Fingers crossed that the $0 on all revolving accounts, except one, gets me a few points and that I get a SW alert in the next few days!!

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
Jan 2012 Current Scores: FICO EQ 604 FICO EX ??? TU98 623
Feb 2012 Goal Scores: EQ 620 EX 620 TR 620 (or just the middle to be 620!!)
Valued Contributor
Repo-ed
Posts: 2,960
Registered: ‎02-09-2012
0

Re: Getting to 620...

we are pulling for you
5/2012: 560 credit scores across the board and $500 secured CC
12/2014: 750+ scores across the board and $80k in revolving credit

Get those baddies removed!!!
Contributor
cracksmeup
Posts: 102
Registered: ‎01-10-2012
0

Re: Getting to 620...

I need the AES help info too, if possible...

 

Thanks

Established Contributor
MBOhio2
Posts: 945
Registered: ‎02-07-2011
0

Re: Getting to 620...

URGENT QUESTION:

 

I am scheduling the final lump sum payment to the LOC right now and I'm starting to panic. The payment I was planning to make would cause my utilization to change as follows:

 

Overall = decrease from 22% to 17%

LOC = decrease from 26% to 20% (the LOC makes up most of my utilization)

 

Now I'm wondering if I should try to scrape together the $ to pay the LOC down just a little further so that the LOC utilization is below 20%. I've heard a lot of people say that getting under 20% was a "sweet spot" for them and caused a score increase, but I'm wondering... was this 20% overall utilization OR was this 20% individual utilization on the remaining revolving account with a balance (which is the LOC for me)?!

 

Help Please!!

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
Jan 2012 Current Scores: FICO EQ 604 FICO EX ??? TU98 623
Feb 2012 Goal Scores: EQ 620 EX 620 TR 620 (or just the middle to be 620!!)
Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008
0

Re: Getting to 620...


MBOhio2 wrote:

URGENT QUESTION:

 

I am scheduling the final lump sum payment to the LOC right now and I'm starting to panic. The payment I was planning to make would cause my utilization to change as follows:

 

Overall = decrease from 22% to 17%

LOC = decrease from 26% to 20% (the LOC makes up most of my utilization)

 

Now I'm wondering if I should try to scrape together the $ to pay the LOC down just a little further so that the LOC utilization is below 20%. I've heard a lot of people say that getting under 20% was a "sweet spot" for them and caused a score increase, but I'm wondering... was this 20% overall utilization OR was this 20% individual utilization on the remaining revolving account with a balance (which is the LOC for me)?!

 

Help Please!!


Maybe do it in steps to see what effect each has.  Make the original payment as planned bringing overall util to 17% (hopefully some points there from going over 20% to under 20%).  See what happens.  Then pay second payment to get under that 20% individual util.  I know time might now be on your side though, either way, paying more won't hurt you none.  :smileywink:


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
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