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Getting to 620...

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Anonymous
Not applicable

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!

Message 21 of 212
MBOhio2
Established Contributor

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
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 22 of 212
Catacam
Frequent Contributor

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

Message 23 of 212
aussiesareforever
Established Contributor

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 Smiley Happy

 


BK in January 2008---Barclay's Apple Financing Card ($10,000) --- Capital One Quicksilver ($13,000)--- Platinum Delta Skymiles ($35,000) --- GEMB CareCredit ($10,000) --- AUFCU ($10000)---Discover IT ($33,000)

Experian 835 Transunion 828-- August 2018
Message 24 of 212
Repo-ed
Senior Contributor

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
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 25 of 212
MBOhio2
Established Contributor

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
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 26 of 212
Repo-ed
Senior Contributor

Re: Getting to 620...

we are pulling for you
5/2012: 560 credit scores across the board
12/2014: 750+
3/2017: 780+
11/2019: 833
2/2023: Experian via Chase United Explorer CC pull - 891
Message 27 of 212
cracksmeup
Regular Contributor

Re: Getting to 620...

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

 

Thanks

Message 28 of 212
MBOhio2
Established Contributor

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
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 29 of 212
kjm79
Valued Contributor

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.  Smiley Wink


CH 7 Filed 7/27/15 Discharged 11/16/15
Starting Score: EQ 620 TU 568 EX 593
Current Score (07/13/16): EQ 674 TU 649 EX 674 (FICO's 08)
Cap1 QS ($5350) (Combined QS and QS1) Discover It ($4100) MilStar ($8,600) Fingerhut ($800)
Off to the garden 05/01/16
Message 30 of 212
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