We need to buy a new house in a year or two. So, it is time to get my credit in order and I thought it would be interesting to track it on the forums and see what happens as baddies fall off, I lower my Util% and how the FICO numbers match up to the simulated numbers. I'm just going to stick with Equifax credit score as it is the lowest and is what the simulated scores reference.
Credit Profile: Equifax FICO 595
Revolving Credit:
Paypal: Balance 3971 Limit 4100
Barclay: Balance 3917 Limit 4000
Best Buy: Balance 0 Limit 3000
Cap One: Balance 0 Limit 4000
Firestone: Balance 0 Limit 1200
Discover: Balance 0 Limit 1800
Amazon: Balance 2933 Limit 3000
JCPenny: Balance 0 Limit 700
Khols: Balance 0 Limit 400
Car Loans
Cap One Auto: 8716
SunTrust: 15111
Mortgage:
Wells Fargo (FHA): 154,252
Negatives:
Medical Collections:
Paid 156.00 Reported 6/2014
Paid 175.00 Reported 7/2014
Unpaid 62.00 Reported 6/2013
Mnor Derogs:
Khols 30 days late: April 2014
PayPal 30 days late: May 2008, May 2010
Major Derogs:
Forclosure October 2008
Plan of Action:
Pay 800 a month on credit cards until down to <10% util on one card.
I will update the credit score each month, along with any significant changes to my credit profile, such as a 30 day late falling off etc. I have also put in the simulated scores for beside the dates. I figure this will help keep me on track and maybe be of interest to others as well.
August 2014 (595-615)
September 2014
October 2014 (615-655)
November 2014
December 2014
January 2015 (625-665)
February 2015
March 2015
April 2015
May 2015 [2008 paypal 30 day falls off]
June 2015
July 2015 (655-695)
August 2015
September 2015
October 2015 [Forclosure falls off]
November 2015
December 2015
January 2016
February 2016
March 2016
April 2016 [Khols 30 day late is 2 years old]
May 2016
June 2016
July 2016
