On my way or not a Chance?

[Anonymous]

Hello Myfico Family, gee can I say that

Well it has been some time since my last post and lets just say I have been keeping my eyes on the ball.

I think I started this journey, 3 months ago at the puny score of 460.

Today I stand proud , full of knowledge and still learning.

1. Open Sky reporting net 25pts

2. 1st Progress Bank net 23 pts

3  3 Months of sold payments with util at 35% per month nettied around 10Pts maybe more

4. All my accounts , car loan , credit card , student loan all paid as agreed

My socre today , get ready ((((((  568  )))))

now the good part!

1. I have a new credit card that has not reprorted.

2. As I pay down my car loan $500 per month I recieve huge score increase , as my total credit is 32K .

3 I still have $373 baddie that if paided will be deleted. some reason I just dont want to pay it !! WHY my score has increased every 3 weeks.

4. I have 1 tax lien as a baddie from 2012

Im thnking i will break 600 in less than 2 months. (Your thoughts)???

110 poitns in less than 5 Months, not to bad

[Anonymous]

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@Anonymous wrote:

Hello Myfico Family, gee can I say that

Well it has been some time since my last post and lets just say I have been keeping my eyes on the ball.

I think I started this journey, 3 months ago at the puny score of 460.

Today I stand proud , full of knowledge and still learning.

1. Open Sky reporting net 25pts

2. 1st Progress Bank net 23 pts

3  3 Months of sold payments with util at 35% per month nettied around 10Pts maybe more

4. All my accounts , car loan , credit card , student loan all paid as agreed

My socre today , get ready ((((((  568  )))))

now the good part!

1. I have a new credit card that has not reprorted.

2. As I pay down my car loan $500 per month I recieve huge score increase , as my total credit is 32K .

3 I still have $373 baddie that if paided will be deleted. some reason I just dont want to pay it !! WHY my score has increased every 3 weeks.

4. I have 1 tax lien as a baddie from 2012

Im thnking i will break 600 in less than 2 months. (Your thoughts)???

110 poitns in less than 5 Months, not to bad

---

 Impressive progress! If money is not an issue, I would pay off the $373 for delete. You've consistently seens jumps because you've made a lot of big moves in the past few months. Those jumps will slow down as you get to the point in your rebuilding were aging your accounts and making on time factors are all you have left to do.

How much is your tax lien? Are you able to get that taken care of as well?

[Anonymous]

I agre with you 100%

1. i dont know why, I just cant bring my self to pay the collection, why is that? is it just me or is it becuase I am riding a wave of progress.

2. The Tax lien was 7K, now its under $1,500 , after speaking with the State, they said once paid it will be removed. not sure what jump I will see.

money , to be honest  not at this time, make over 6 figures and low bills, etc. guess thats how I was able to knock out so much.

Operation , "keep it moving"

1. let new CC card report "Any day"

2. Pay off collection $373 and Delete

3. Garden accounts for 2 months

4. Cont~ paying down car loan and student loan

5. Cont~ making ontime CC payments on all 3 Card

leaving the Tax Lien , what do you think my score would be at say Aug 2016

and thank you for replying, info is wealth

[Anonymous]

You've made some fantastic progress!

I fear you are about to hit the wall, though - you only have a couple of big things to do (paying off collections/liens).

Once those are paid and fall off, you will see another little bump in your score for each.

Then you'll need to garden seriously for a while (like, a year?) to allow your AAoA and your payment histories to "bloom."  That's where your next increase is going to come from.  You can focus on growing the credit limits on your cards in that time, as long as your lenders will "soft pull" you for increases.

I know it's hard when you're in rebuilding mode and you get to that first break in the trees where you can get new credit - but you cannot just take every card you can find, because there is no benefit to that kind of behavior (it can look very negative to an underwriter).  You have a few good accounts now, and you're paying off your baddies, which is phenomenal effort - but you will have to garden to see another rise in score once your last two collections/liens are paid off and those increases hit.

It's something to be proud of,  having nothing left to do but maintain - it isn't exciting, though lol

[Anonymous]

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@Anonymous wrote:

You've made some fantastic progress!

I fear you are about to hit the wall, though - you only have a couple of big things to do (paying off collections/liens).

Once those are paid and fall off, you will see another little bump in your score for each.

Then you'll need to garden seriously for a while (like, a year?) to allow your AAoA and your payment histories to "bloom."  That's where your next increase is going to come from.  You can focus on growing the credit limits on your cards in that time, as long as your lenders will "soft pull" you for increases.

I know it's hard when you're in rebuilding mode and you get to that first break in the trees where you can get new credit - but you cannot just take every card you can find, because there is no benefit to that kind of behavior (it can look very negative to an underwriter).  You have a few good accounts now, and you're paying off your baddies, which is phenomenal effort - but you will have to garden to see another rise in score once your last two collections/liens are paid off and those increases hit.

It's something to be proud of,  having nothing left to do but maintain - it isn't exciting, though lol

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+1 on hitting the wall! I learned that the hard way.

I don't know if anyone likes to hear that they should garden, but you might be at that threshold where the real gains are going to come from showing responsible usage and growing your current cards. 

I started rebuilding from the mid 500s last year and it was a pretty fast rise to the mid 600s, but new accounts and inquiries started to zero out my good income and payment history and now I stagnate as a result of that agressive credit seeking and that last stubborn derog! 

You've made leaps and bounds, but I'd spend some that app time working on more of those baddies with GW letters and such & those SP CLIs. 

[RonM21]

Nice work on your progress!

[Anonymous]

to those who replied , thank you and again I have a new path forward.

I dont like it , but it seems to reach anything over 640 it must be done.

1. Let new CC hit

2. Work on paying off CL $373

3.  Work on Paying off LIen

All the while garden for year , and dont focus on any scores and allow my AAoA and payment histories to "bloom."  

I think this is the best direction.

will check in once I hit 600

Check in again @ 640 , Im thinking 640 is my wall for some stange reason could be wrong

[Anonymous]

Happy Friday , My FICO Team.

new score alert.

(Credit Usage Decrease)

Significant drop 70%

score bump 568 to 571 <<< Ill take that

[Anonymous]

Happy Wed! myfico Family....

Well still making progress , not too much on my part these past 2 to 3 weeks.

However on 6/4 I happliy departed the +++Poor crediit rating+++and now moved to the proud +++FAIR+++  Score 584 

4 1/2  Months ago

Started 433

Current 584

Goal 700 , by March 2017

Pending....

1. $373 collection , will delete "not yet paid"

2. $1300 Tax lien , will delete once paid

Maaging...

1. Car note $700 pe month , Balance $32K

2. Open sky making payment , no lates

2. 1st progress making payment , no lates

3. 1st progress Plat making payments , no lates

4. Student Loan , making payments , no lates

Again thanks for the support , as I learn more about good habits.

[Anonymous]

Well Family , some bad news and good news.....man im so down right now , however feeling more empowerd.

win some , loose some.

1. Thought I was doing the right thing, gave the wife some spending control.

long story short , GMC payment didnt get paid...after months on sold payments I logged in t check my scores and BAAAAAAAAAM

533 <= what the hek !

So to all ! do not , try not , never not .... miss an payment when everything is going well. you will get hi hard.

it was like a snow ball.

Now one to the Good!

A. Called GMC , excepted the 30 day and made a payment.

insert Boss mode ! scratch that I made 2 payments

B. 2 cd First Progress card hit , Postive gave me more + than - , or as one would say more good credit than baddies.

C. Applied for a First Primer card , Approved! has no thit credit yet ...I know "Bottom Feeder card" dont plan on useing it.

D. Arranged Pay for deletion $373 collection July 1st

I guess from were I as at to were I am now, its not that bad.

my gaol is 700 by April 2017.

any thoughts! I know that 30day late really messed me up ..... just being honest , im not perfect.

Family I have a question!

Why is it that I see so many members fresh out of Bankruptcy , then go bragging about how they just got approved for a new luxury car loan?

doesnt that imply , the lesson wasnt leanred? or is there a part of the game I am missing.