At what point is a person "done" rebuilding

[Anonymous]

I have done a lot of thinking about my credit and financial future so far in 2017. After a few months of good progress I started thinking, "When will it be over? When will I no longer be rebuilding my credit?"

Honestly, I don't really know the answer to that question. My scores are all 640-ish right now. So, I have a lot of rebuilding left to do. But I always like to see an end goal for a particular endevour. I just don't know what the end of rebuilding looks like.

• Is it when all of my baddies have fallen off?
• When I no longer have to check my credit reports every 14-30 days to see if that TL has update
• Maybe when I reach a certain credit score?
• Get approved for a certain card?
• Get approved for a mortgage at some point in the future?
• Get a CL of 5 figures?

Perhaps it is a feeling instead. Maybe I'm done rebuilding once I no longer have the fear of getting rejected for a decent credit card.

Maybe the answer is subjective and everyone simply has their own opinion on it that is only relevant to their unique circumstances and goals.

What are your thoughts? When do you think you will be done rebuilding?

[jdxprs1]

I considered my rebuilding done when I got everything I wanted. House refi, 3 car loans, several good credit cards.

It took almost a year and about 100 point increase in my scores.

[medicgrrl]

I will consider mine done when I've corrected my credit report as much as I can and I've established an installment and 3 revolving accounts.

I've got the new credit I need. I'm currently working on fixing one TL on Equifax and then I'll be done. The TL should be falling off this month but my creditor says next year, so I'm working on that. I have 2 more baddies on EQ and Exp that will fall off next May. I will probably attempt EE on those later, but will not consider that part of my rebuild.

I think everyone is different on when they feel their rebuild is finished.

[Anonymous]

As for me...I have a list of accomplishments and things left to do:

ACCOMPLISHMENTS:

All scores in the good and holding steady (yellow)...still working towards the green

Mortgage

no sub prime lenders

decent credit lines

THINGS LEFT TO ACCOMPLISH:

Paid tax liens 2012(Equifax)

1 paid charge off 2009(Experian) - Not a charge off...just late payments..see below

2 90 day lates from 2014 from Navient. (TU, EX, and Eq)

Once I accomplish my leftovers, I feel my rebuild is complete....BTW...good post!!...

[Anonymous]

When my IIB accounts and CH 7 fall off of my reports.

[rmduhon]

@doinit1 Shouldn't the paid charge off from 2009 already have been excluded?

[MrsCHX]

It's as individual as the credit files themselves.

For me, my rebuild will be done when I have no derogs (2020 is when student loan late payments will drop off), my AAoA is back up to par, and my scores are 750+

I have a car at under 4%, no mortgage desire right now, a mix of lenders, prime cards, decent limits (for me) on most cards...

[Anonymous]

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@rmduhon wrote:
@Anonymous Shouldn't the paid charge off from 2009 already have been excluded?

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I should have said it was opened 2009 and closed 2014. Experian said that it should be removed this year.

[accjohn1990]

I will consider my rebuilding done when i reach a certain credit score that allows me to get most credit cards.  Probably somewhere around 750.  Im at 660 now and started at 580 a year ago so im about halfway there.  I do not look for baddies to fall of to determine when my rebuidling is done because that would take 5 years and i don't want to focus on something that long term

[gdale6]

Its really what you deem it to be for yourself. For me it was a Fico score 760+ with no baddies. I have had this for nearly 1.5 years now