Reply
Established Member
Posts: 32
Registered: ‎07-11-2009
0

Just ordered myFico score: It stinks, but I'm actually happy!

[ Edited ]

Well,

 

    When I was checking out my Walmart Credit Card information on their website, they had an offer to see my Score for free, so I thought "What the heck?" Plus, I was curious, because I knew I had a bunch of new collections that had showed and I wanted to "get it over with" and see just how horrible my score was. Considering I had figured out that I had almost 5 collections and an extremely high debt-to-credit ratio(63%), I was expecting the type of score you would see after a bankruptcy, something in the 400's. To my surprise, as of today, 10-30-11, I stand at 597 through TransUnion's MyFico simulator. Even though that score stinks in the eyes of lenders, I am pleasantly surprised.

 

   When I went to the part of my score when it shows the "scale" and what your negative and positives are, the ONLY positive I had was my credit history. I'm only 27, so my history(my first ever revolving credit account) is 7 and a half years. My biggest factors on the negative side were collections and a bunch of maxed out credit cards. My goal is to shred the ones I have on hand and just save one for emergencies.

 

    I realize improving your credit, even when you make on-time payments for years on end, is a slow and pain staking process, but as long as God keeps providing me with my steady income, I don't see why I couldn't get into the mid to high 600's within a few years. I should make that my "Where do you see yourself in 5 years" plan. I also, decided to sign up for the $4.95/month quarterly monitoring plan, so that I can keep better track of my report.

 

   Thanks for taking the time to read this :-)

New Contributor
Posts: 79
Registered: ‎10-16-2011
0

Re: Just ordered myFico score: It stinks, but I'm actually happy!

 You are doing the absolute right thing by now monitoring your reports and by visiting the MyFico forums. I wish you all the best!


Starting Score: 544
Current Score: 666
Goal Score: 700


Take the FICO Fitness Challenge

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.