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Thank you for the encouragement. I am ready to get my feet wet!
@Shogun wrote:
@Huds0nvalleygirl wrote:Hello -- I am new here. I am really happy that I have begun this journey toward excellent Credit. I continue to make much better decisions concerning my personal finances each day. My score is not where I want it to be but I have faith that I will reach my goal thru persistence and patience.
I'm certain you will too. So get in here and get your feet wet!
I am eagerly looking forward to learning from all of you Credit-healthy people!
@Shogun wrote:
@jeremy032180 wrote:I'm still sitting at 663. I tried leaving a 5% balance on my cc and it seemed to do nothing. Next month I'll try leaving 7% and see what that does.
Right now I have one secured card and 1 auto loan under 5k. I get a lot of mail from credit card companies like American Express, Citi, etc. I could use a new computer so I'm tempted to get a card at Best Buy or even a Visa/Amex/etc but I'm scared the limit will be low (I make 40k a year) and I'm scared of what the ding on my cr will take.
You will take a ding, but those dings are necessary. If you have a thin file, it doesn't let your CR grow as much.
Thanks for the words of wisdom. Any suggestions on what kind of credit I should apply for as far as 'real' credit card like Amex/Visa/Mastercard vs a retail store card like Dell or Best Buy?
@jeremy032180 wrote:
@Shogun wrote:
@jeremy032180 wrote:I'm still sitting at 663. I tried leaving a 5% balance on my cc and it seemed to do nothing. Next month I'll try leaving 7% and see what that does.
Right now I have one secured card and 1 auto loan under 5k. I get a lot of mail from credit card companies like American Express, Citi, etc. I could use a new computer so I'm tempted to get a card at Best Buy or even a Visa/Amex/etc but I'm scared the limit will be low (I make 40k a year) and I'm scared of what the ding on my cr will take.
You will take a ding, but those dings are necessary. If you have a thin file, it doesn't let your CR grow as much.
Thanks for the words of wisdom. Any suggestions on what kind of credit I should apply for as far as 'real' credit card like Amex/Visa/Mastercard vs a retail store card like Dell or Best Buy?
Well, I can tell you how I started, and it exploded from there. I started with a GE card, Walmart to be exact. I used it and paid it off monthly, plus I got my free monthly TU FICO 08. Then I got another GE card, Lowes. I shop there and I got 5% off at the register for using the card. Again, used it and paid it off. I gardened these for a few months, then the offers from other companies were hitting my mailbox daily.
It will be a year next month since I started with that first GE card. Now I have well over $60K in CCs with a 2% util.
Well I haven't been keeping up on posting my progress for the challenge but I have been working on it very hard the last months. I have to say I'm very proud of myself for getting as far as I have in such a short time. I'm 8 months post Bankruptcy and before the BK I was at high 400's or low 500's at best across the board. Now, I'm not as high as I'd like to be but I know I'm making progress. 515 EQ 552 TU and 648 EX (pulled by CU). I have A LOT of work to do but I've opened 2 credit cards - one being UNSECURED with a $500 CL with my CU - which I think is awesome! I had it secured with a deposit of $200 and this past month got them to graduate it and increase my limit. Whoo hoo! Go me! And besides that, I had one of my auto loans refinanced from 18% to 9.25% at a local CU. After only 6 payments Better news is today I was approved for 7.24% refi on our second auto loan which was at a whopping 23.99%!!!!! This was only after 4 payments! I'm so excited! So now to sit and let it grow because my next goal is a mortgage approval!
@himynameis
You have done an excellent job! Keep it up and you'll be in that new home in no time!
a little late for august check in but oh well.
Firstly, ill be working on util from now until the future. (my goal is too pay everything off)
as of the 30th of this month ill have no inquries under a year. 1 new account in december(but no pull was used)
ill be gardening until jan anyways. (where then my old inquries from last year will start too fall off.
happy fitness challenge everyone.
stay strong.
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
Im a little late on the August check in but here is my current progress. Got a deletion from all CR's for two collections which were paid to the origional creditor
Lower CC utl to 33%, currently at 82%
Continue to GW closed collections which are paid in full
2 charge off student loans with Keybank which are 10k total and making 300 mo payments
Current credit cards are Capital one plat: BAL 1535, credit limit 2000
Discovercard: BAL 2700, Credit limit 3000
Its a work in progress but im up for the challenge. Gotta concentrate on my CC utilization next.
Thanks to all for their great advice and knoweldge.