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Happy Dance - 36 point jump (WF reporting)!!

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Steelersfan904
Regular Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!


@Duncanrr wrote:

@annielorie wrote:

My dad is an attorney. Where did you attend? He went to Brooklyn Law about a gazzilllion years ago. You need another card but not one that reports as secured.

 

In the old days they really didnt have loans but my dad always tells us he used to work at Jolly Rogers an amusement park by Shea Stadium to pay for law school.  LOL The loans will get paid and when they do you'll think your rich with all the extra money not going towards loansSmiley Tongue

 

Ive read that you can pay a fee to the CRA's to add things like utilities or loans if you wan it to be reported. hOW LONG ON MORTGAGE? Get another card and see about reporting mortgage for a good score boost.IMO


Went to LSU.  Im trying to refi mortgage to a traditional lender in 12 months or so.  I have Cap1 secured card that will generate first bill 6/24 or 7/24 and that doesnt report as "secured."  Ive also considered getting a personal loan from bank for 12 months...havent gotten too much advice on this one so still on fence about it.  I have 25 years left on mortgage at 7%  (I pay more on my students loans than I do on my house note)


Congrats Bro!

 

We are pretty much in the same boat. I will let you know how much of a score jump I get when the capital one generates its first statement



Starting Score: 502 5/4/2012
Current Score: 640 08/03/2012
Goal Score: 700


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Message 11 of 19
annielorie
Valued Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

Sounds like the student loans can stay put! But try to rethink that mortgage. 8% is high even if you get a 5% loan that is alot of change over the course of the loan!


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 12 of 19
Duncanrr
Valued Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

The reason Im focused on my rebuild so much right now is my mortgage.  Its my goal at end of this process (refi in 12 months - 18 if I have to).  Im hoping to get at least 5% on mortgage.  At that rate I save about 300 per month off note so 3600 per year....multiply that by 24 (term left on current mortgage at time Im going to reapply) thats slightly over $86,000.  Thats not even factoring in interest on that amount which would easly boost my savings (over term of loan) to over $100,000!!!



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

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Message 13 of 19
annielorie
Valued Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

Im sorry if I sounded condescending. Many people will just stay in bad int. loans. 


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 14 of 19
LALALISA
New Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

Awesome! Congrats!

Starting Score: Jan 2011: 517; March 2012: 620
Current Score: Ex 681 FairIsaac V2; TU 690 Classic04; Eq 642 Beacon5.0-All lender pull 8/13/12
Goal Score: 700


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Message 15 of 19
JonRun
Regular Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

Went to LSU


Fellow Tiger here! Do you know if consolodating your student loans did anything to your credit score? I just consolidated 2 Sallie Mae loans to Department of Education loans and wondering if it will affect my credit either way.
Message 16 of 19
Duncanrr
Valued Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!


@annielorie wrote:

Im sorry if I sounded condescending. Many people will just stay in bad int. loans. 


The only reason I'm with a bad loan is I'm paying a stupid tax for past mistakes. I'm correcting that now. And I deserve a little condescension thrown my way given the fact I let myself get in this trouble to begin with Smiley Wink


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

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Message 17 of 19
Lasardo
Established Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

Doing the "happy dance" with you'!! Good for you.!! I have an idea called a "credit builder" that is not a card it is a CD if you are interested PM me.
CS 728- 01/13 from 554-12/11
Goal: 800
Message 18 of 19
Duncanrr
Valued Contributor

Re: Happy Dance - 36 point jump (WF reporting)!!

I'm not sure if consolidating influenced my scores as it has been a longtime since I did that and I wasn't monitoring scores back then. From a financial prospective I saved a huge amount on interest rate when I did it and it makes repayment easier since only 2 accounts instead of 19.

As for cd product, my credit union offers one as well. I need to figure out which route I want to go on that and move ahead with it.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 19 of 19
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