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08-22-2017 07:38 PM - edited 08-22-2017 07:41 PM
Checking in for August- again late but I'm here. Had my son home from college for the last few months, so haven't posted a lot, though still reading lots!
1. Save $10k to $15k this year toward new car purchase in 2018-This has completely changed since I already bought a new car...I was impatient and wish I would have waited, but at least I like the car I have and plan to keep long term. So this goal is now:
1. Save $10k to $15k for my portion of son's final year of tuition for 2018/19 school year.
2. Pay down 15% of debt by the end of Dec. I am ahead of pace here, but will need to slow down a little to boost my savings in a big way. I have paid off closer to 40% - due to bonus. I will still be on pace to pay off the rest in 38-40 months. This amount includes an installment loan with SOFI
3. Close 2 CC - I closed 3 and still have $161k CL. When all is said I would like 3-5 with around $80k CL, if not less.
4. Increase 401k contributions incrementally to catch up max-I am doing well here. I should be able to max out, including catch up contributions in less than 3 years, but I continue to put in enough to get the full match, which is dollar for dollar on the first 6%. We also have a defined benefit pension. I am also saving outside of my 401k, but am still only at 10% savings rate. This really needs to get into the 25% range in the next 3-5 years.
5. Get scores over 700- My scores have stagnated since the boost after paying off a few cards with my bonus. My utilization is only 19%, but the dollar figure is still big. I anticipate that if I keep doing what I'm doing I will be over 700 in 5-7 months, at which time I will move my goal to 760, as there may be a refi in my future.
I feel good about my progress. I have one cc that I carry. The ones I want to keep have small recurring charges. The others can close on their own, until my utilization is a non issue. I won't close them just yet.
Good luck everyone! I will be a lot more diligent in my posting and documenting my progress.
This forum is the best thing on the internet as far as I am concerned!
08-29-2017 07:41 PM
Made some great progress this month!
1.) Telecom collections gone! This one never belonged to me and had been put on my report as a mistake. Poof! Disappeared after the 2nd dispute.
2.) Medical collections: HIPAA work in progress
3.) Citi deleted my lates from last year! That was so nice of them. <3 Guess which company I'm going to be pretty loyal to in the future...
4.) Balance on my CCs:
BofA: 0 / $5800
CapOne QS (used to be Platinum, but CapOne changed it to QS!): 0 / $305
CapOne QS1 (new! Approved end of last month): 0 / $3000
Citi: 0 / $9350
Chase (closed): $6300 / $8500
Milestone: 0 / $300
5.) As a result of my GW to Chase, they sent me a letter telling me I could call regarding reopening my account. Going to do this pretty soon.
6.) Remaining principle on my car is $3300. Getting close to where I can just pay it off very soon.
7.) Personal loan is a little over 5K left...perfect payment history on it, so I'm just going to let it autopay down. If anything, it's helping my score.
8.) Student loan: autopay without any problems. Next month, it will be a year of perfect payment history, so maybe I'll see a score bump with that?
Scores have increased steadily as things are being paid down, and some baddies removed.
08-30-2017 09:28 PM
I am a new user and trying to rebuild my credit! I think I overcame one of the first hurdles. I finally got a credit card because I have disputed all of the inaccuracies on my report and got a good car loan that actually reports to the agencies.
Welcome, Dstryerofworlds! Sorry I didn't see this to welcome you sooner. Congrats on your progress!
08-30-2017 09:31 PM
Newby here. I appreciate everyone who contributes to this forum. Being part of such a thoughtful community will no doubt assist me in my credit card journey.
So just starting to grow, as I have been acumlulating the cards that best suit my lifestyle the past few months.
One of my biggest challenges is that I am super protective of the credit that I DO have, which in comparison to some of you folks, isn't really all that much. My wife, on the other hand, has no real concept of living in a plastic society (she is from Philippines), so I have to be "the responsible one" for the both of us.
Anyhow, I am positioning my credit strategy towards "higher than average" domestic leisure air travel and some light Int'l travel to hit my million mile mark in the next 7 years (halfway there).
my credit card overview....
AMEX Delta Gold - 1K
AMEX Hilton Honors - 1K
Cap One QS - 4K
Cap One QS1 - 3K
Chase Freedom Unl - 4.5K
Disco Cash - 2K
PNC Cash Rew - 2K
I've attained a good mix of cards here (for me personally) to allow me to address gas, groceries, restaurants at higher that a 1.5% cashback rate.
My BIG three cards are PNC, Discover & Freedom Unl for addressing: Gas 4%, Restaurant this quarter 5%, grocery 2%
The QS I keep in drawer (this was an upgrade from a Cap One Plat card)
The QS1 I utilize as a secondary & internet purchases card so I don't carry it around with me.
The AMEX Delta Gold - I am most of the way to hitting the minimum for the 60K Skymiles bonus.
The AMEX Hilton Honors - 50K points bonus for 1K spent in first three months (will be focusing on this heavily as well as the Delta card
Looking forward to seeing many tips on credit disicpline and helping to motivate others who are in the same boat as me.
I also plan on being quite the cheerleader and supporter of those that have decided, like myself, "to put all the turds on the table".
Welcome to the forums, Snootypoodle! Awesome username, BTW. Looking forward to seeing your progress!
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