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New Contributor
Posts: 89
Registered: ‎11-26-2013

Re: December 2015 Check-In Thread

My goal 2 weeks ago was to reach 810 by Dec 2016 but as of a few days I reached that score on one of the CB. My other two scores are 793 & 796 (sig) so I plan on being over 810-820 all across by next Dec. My other goal is to not go over 1% UTL overall which equals $591 (CL is $59,100). No point on carrying a balance since the interest will kill the 1% miles/cashback/points credit cards offer. 

Regular Contributor
Posts: 169
Registered: ‎01-23-2009

Re: December 2015 Check-In Thread

My goodness, do you really have all those cards, Musiclover?   Boggles the mind. 

 

I'm not really in the Fitness Challenge--don't know how to get into it.  I just mosey along and take care of business; financial, i.e.

I will be getting a new car this year, so I expect a drop in numbers perhaps.  Otherwise, doing just fine staying the course.

--------------------------------------------------------------------------------
Starting scores:2007 - TU-850; EX-850; EQ-850. JUNE 11, 2015 - TU-850; EX-850, EQ-850 - Also FICO 8.
LATEST SCORES: EQ: 850; TU: 850; EX: 850; FICO 9 - AS OF MARCH 7, 2016

LATEST SCORES AS OF Nov. 24, /2016 - TU- 850; EQ - 846; EX - 836.- Smiley Sad
Scores as of June 1, 2017: EQ - 842; TU 841; EX - 842
Member
Posts: 8
Registered: ‎08-22-2015

Re: December 2015 Check-In Thread

Hi There Kenny-

 

Apologies for jumping in here, but I am excited to join in the fun for 2016. Will there be a challenge? I've sat on the bench for a year and a half and I am now ready to commit.

 

I am new to myFico as a MEMBER but have utilized the wisdom of many participants over the last two years with much success in rebuilding my credit. Yay! Time really does fly.

 

Any info you have is appreciated. Thanks in advance.

 

Kay


Starting Score: 627 Average
Current Score: 627 Average
Goal Score: 750 All


Super Contributor
Posts: 8,763
Registered: ‎10-03-2008

Re: December 2015 Check-In Thread

akayak11 - Yes the Check-In Thread has been around for awhile. It is offered as a way to keep ourselves true and share with others that might benefit. From reading it works.
Starting Score: 848
Current Score: 826
Goal Score: 850


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,098
Registered: ‎04-24-2014
0

Re: December 2015 Check-In Thread

[ Edited ]

"As we approach the holidays, the stress of overspending can be tremendous.  What steps are you taking so that you ring in the New Year not drowning in debt? What new ideas or plans do you have so that 0% promos don't sway you away from your goals?  If you have a plan or strategy that you would like to share, please do! "

 

Okay my tip is to use your reward points for gift cards.  Cash in your rewards for gift cards in September or October of each year. Use the gift cards as Christmas gifts.  It works and people are always pleased to be able to get whatever they want.  Also, they get to take advantage of the after Christmas sales.

 

Now for my December Check in:

 

Joined the fitness challenge in 4/2014 & met all my goals by 8/2014.  Which were: 1) Improve FICO score to 760 - 850 range 2) Get pre-approved for new home loan 3) Buy new home in Bay Area (relocating near adult kids).  In August I established a new goal:  1) not have more, total debt, for credit cards and student loans than I had at the beginning of 2014.

 

My credit card and student loan debt on Jan 25,2014 was $44,765.64. The credit card debt alone was $30,128.11. Paid off student loan, thus it became easy to maintain August goal.

 

In October 2015, I changed goal to keep credit card debt below 1/2014 credit card figure and I added a new goal of paying off new Mortgage at least 10 years sooner than the 30-year maturity date of 9/2044.

 

I advised forum that I would provide updates every Feb, because my initial plan was to pay an additional $9600 by lump sum in January of each year. My projected new maturity date based on the 10/2015 plan was Aug 2031.

 

I’m updating now, because I’m refinancing to a 15-year loan and will sign closing documents this week.

 

My cc debt on 10/2015 was $5546.24. My current cc debt on line is $4,429.69. After payments, which haven’t posted, it will be $3,999.36.

 

Mortgage Maturity on 10/2015 was Jul 2044. New maturity on 12/22/15 is 6/2044.

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


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Frequent Contributor
Posts: 326
Registered: ‎04-04-2012
0

Re: December 2015 Check-In Thread

When will the 2016 Fitness Challenge begin?  I'm so ready for it.

Contributor
Posts: 95
Registered: ‎08-26-2007
0

Re: December 2015 Check-In Thread

Ok I'm officially frozen as of today, I've seen my scores take a hit but I was able to get a few more credit cards and increase my CLIs but too many inquires as well as the fact that I need to garden.  2015's been a great year, closed on my new home in March 2015 and it's been all good since then, but I know its time to get off the apps and mingle in the garden for the next year or two!  I'll be on the forums to learn and to encourage all but for now my goals for 2016 is to garden, clean up reports (inquires) and bring my UTL to below 10% across the board.  Thanks for all I've learned here and I look forward to 2016!!!Smiley Very Happy

Filing Chap 7
Regular Contributor
Posts: 106
Registered: ‎01-06-2015
0

Re: December 2015 Check-In Thread

What a year.

 

It's almost crazy to think that last January, I had 7 collections, no real credit whatsoever and no idea how to get anywhere. 

 

Reporting 1/2015:

 

Collections: 2 EQ/7 TU/5 EX (7 accounts total)

Credit lines: 3 store cards, 1 subprime card/ 20 Student Loans

Lates (30/60/90/120): 1/1/1/0

Other: n/a

 

Reporting 12/15:

 

Collections: 1 EQ/3 TU/3 EX - 1EQ/TU/EX falling off early 2016, 1EQ/TU being removed within the next week - leaving me with 1 old, inactive collection!

Credit Lines: 13 - 6 store cards, 1 subprime, 6 prime lenders, ~$80K available credit / 20 Student Loans

Lates (30/60/90/120): NONE!

Other: car loan at prime rate ($30000 @ 1.74%)

 

Reflecting on the good, I can't believe how well I was able to get the negative items off of my report. I love to read the success stories in the Rebuilding Your Credit forum, but always felt a bit bummed to see stuff like "10 collections ALL removed, WOO!" because of how hard it actually was to get those moving. Don't let anyone ever tell you it's not a difficult and frustrating process. It was hard. Some companies didn't want to PFD. Some I disputed because I'd never heard of them and they still stayed on. The remaining ones are a collector known for being a real SOB and the only way they're going to come off is with an early exclusion. But the perseverance paid off and I'm happy I was able to get a majority removed. My report will be clean without any further intervention by 2017 - and I'll keep pushing until then on the last negative.

 

On the bad... I got too trigger happy with credit. Initially, the shopping cart trick was my gateway to credit, along with the subprime card. No inquiries? No problem! The good in this was these, along with a crappy subprime card, allowed me to build a history so that by March of this year, I was able to get 2 prime cards and a car loan. The initial loan was higher interest than I wanted, but I saw a big score boost in July and decided to pull the trigger on a refinance - and more apps with it. The last card I applied for was in August, and I am working on gardening now for a long time - and retiring several cards to the sock drawer until eventual closure. I have overlap on spending categories and just do not need/want to manage a spreadsheet just for card usage.

 

On the ugly... new cards = new spending. I'm disappointed with myself here. Card usage = positive history in my book... and then I decided to 0% finance a vacation... and then had two major emergencies come up, and financed those too... and with holiday spending... I wound up with balances across 5 cards, totalling over $9K. UGH. The positive is that they are all getting paid on time, and more than the minimum; and at the end of the year I will have an extra $3K to pay that down, but I still obviously need to learn to manage my finances better, and rebuild my savings so I don't have to rely on credit when emergencies arise. I should be able to get all of that paid down by June 2016, and until then ALL cards are in the sock drawer. I'm also revamping my personal budget and tracking my spending daily until I've built better habits. There's always something to learn I guess :/

 

But, this year is almost over, and I'm excited to formulate my new year's resolutions for my credit/finances! I can't wait to see what everyone else is able to do on their credit journey as well Smiley Happy 

 


~Gardening until April 2017~

Starting Score: EQ 637 TU 623 EX 667 1/6/15
Current Score: EQ 696 | TU 708 | EX 670 1/26/16
Goal Score: EQ/TU/EX 700
Frequent Contributor
Posts: 494
Registered: ‎06-15-2015
0

Re: December 2015 Check-In Thread


butanz wrote:

What a year.

 

It's almost crazy to think that last January, I had 7 collections, no real credit whatsoever and no idea how to get anywhere. 

 

Reporting 1/2015:

 

Collections: 2 EQ/7 TU/5 EX (7 accounts total)

Credit lines: 3 store cards, 1 subprime card/ 20 Student Loans

Lates (30/60/90/120): 1/1/1/0

Other: n/a

 

Reporting 12/15:

 

Collections: 1 EQ/3 TU/3 EX - 1EQ/TU/EX falling off early 2016, 1EQ/TU being removed within the next week - leaving me with 1 old, inactive collection!

Credit Lines: 13 - 6 store cards, 1 subprime, 6 prime lenders, ~$80K available credit / 20 Student Loans

Lates (30/60/90/120): NONE!

Other: car loan at prime rate ($30000 @ 1.74%)

 

Reflecting on the good, I can't believe how well I was able to get the negative items off of my report. I love to read the success stories in the Rebuilding Your Credit forum, but always felt a bit bummed to see stuff like "10 collections ALL removed, WOO!" because of how hard it actually was to get those moving. Don't let anyone ever tell you it's not a difficult and frustrating process. It was hard. Some companies didn't want to PFD. Some I disputed because I'd never heard of them and they still stayed on. The remaining ones are a collector known for being a real SOB and the only way they're going to come off is with an early exclusion. But the perseverance paid off and I'm happy I was able to get a majority removed. My report will be clean without any further intervention by 2017 - and I'll keep pushing until then on the last negative.

 

On the bad... I got too trigger happy with credit. Initially, the shopping cart trick was my gateway to credit, along with the subprime card. No inquiries? No problem! The good in this was these, along with a crappy subprime card, allowed me to build a history so that by March of this year, I was able to get 2 prime cards and a car loan. The initial loan was higher interest than I wanted, but I saw a big score boost in July and decided to pull the trigger on a refinance - and more apps with it. The last card I applied for was in August, and I am working on gardening now for a long time - and retiring several cards to the sock drawer until eventual closure. I have overlap on spending categories and just do not need/want to manage a spreadsheet just for card usage.

 

On the ugly... new cards = new spending. I'm disappointed with myself here. Card usage = positive history in my book... and then I decided to 0% finance a vacation... and then had two major emergencies come up, and financed those too... and with holiday spending... I wound up with balances across 5 cards, totalling over $9K. UGH. The positive is that they are all getting paid on time, and more than the minimum; and at the end of the year I will have an extra $3K to pay that down, but I still obviously need to learn to manage my finances better, and rebuild my savings so I don't have to rely on credit when emergencies arise. I should be able to get all of that paid down by June 2016, and until then ALL cards are in the sock drawer. I'm also revamping my personal budget and tracking my spending daily until I've built better habits. There's always something to learn I guess :/

 

But, this year is almost over, and I'm excited to formulate my new year's resolutions for my credit/finances! I can't wait to see what everyone else is able to do on their credit journey as well Smiley Happy 

 


I love the gift card idea! Thank you for posting this.

current Fico scores EQ: 744 TU: 781 EX: 761

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