February 2018 - Check-In Thread

[ohjoy]

Checking in for February on a positive note.  I think my scores are just beginning to rebound from my November app spree. I've been getting a point or two here and there but, I'm encouraged to see +9 with EX yesterday. I've opened no new accounts and received no new inqs.

But, although I'm staying on track with keeping my cards paid, I'm feeling a little all over the place with using them. It's like I have no plan and I'm a planner so...

My goals for this month:

1. CLI NFAmex and Disco2
2. Review my current MR programs and figure a best use plan
3. Review current cards and figure best use plan and which to carry for daily use (I feel like I'm eeny meeny miney mo'g my cards and defaulting to PRG because I like using it)
4.  Remaining in the garden (no app'g, no inq)
5. 730+ across the board

Wishing us all a great month!

[Anonymous]

Hello All,

It's been about a month since my first ever post in these forums, and I'm doing ok.  I've been educating myself a great deal on the subject of credit scores, and what influences them, but I still have a great deal more to learn, I'm sure. 

My credit union provides me with my EX score, so I've been using that as my measure, as well as the FAKO scores from Credit Karma, et al.  I started with an EX score of 701 in January.  My credit utilization has gone from about 18% to 4%, (as of early Feb.), and I assume that primarily because of this my EX score has inched up to 707 since Jan.

Because I've been one of those oddballs who hasn't used a great deal of credit in the past, relying instead on a debit card, my credit history is short.  I picked up a Visa card from my credit union last Sept., and three store cards in Nov. and Dec., so my brief credit history is certainly hurting my score.  Only time can fix that.

In July, '17, I bought a new car, and financed little less than half of it.  For that I took out a $15,000. auto loan, of which I've paid off about $2,000.  I think I'll start paying more on it each month to get it paid off faster.  My store cards are from J. Crew ($1,250. limit), Barney's ($2,000. limit), and Macy's ($600. limit (I don't know why this limit is so low)).  I assume these were all soft pull cards, as I show no hard pulls on my EX report, or the Credit Karma reports.  J. Crew and Barney's were pop-up card offers when I purchased items online, but I applied for the Macy's card in store to save another $100. on a purchase.  My Visa has a limit of $3,000.  I'd like to ask for credit increases, but I need to make sure that'd be a soft pull before I do, and I don't trust sales associates to know the answer to that.

My goal is to be above 800.  I don't know if that's possible to obtain in a year's time, but that's what I'm shooting for.  Advice on improving my score is welcome, and in the mean time I guess I'll just keep 'gardening'. 

[Anonymous]

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wrote:

My February is off to a great start. I managed to save $500 last month, which is a big deal for me. I also managed to bring down my utilization to below 200%. I am becoming more cognisent of my spending choices and deciding to put more needs ahead of wants. It honestly feels good to pay bills off and see the 0 next to amount due. Not having any of the added late fees, returned check fees, etc. has provided such a mental boost. I am looking forward to smashing some more of my goals this year. 

My goal for this month is to simply bring down my utilization to below 100% and to get to the $1000 saved mark for the year. 

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Congratulations, Javonnj, for the savings and the headway on bringing down utilization! 

[Anonymous]

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wrote:

Hello all! Doing great here. Hitting my goals and looking forward to continuing to do so! I will be closing on my new house this month!! SO EXCITED!

---

Wow, samait! That is awesome! Congrats on the new house. 

[Anonymous]

---

wrote:

Hello All,

It's been about a month since my first ever post in these forums, and I'm doing ok.  I've been educating myself a great deal on the subject of credit scores, and what influences them, but I still have a great deal more to learn, I'm sure. 

My credit union provides me with my EX score, so I've been using that as my measure, as well as the FAKO scores from Credit Karma, et al.  I started with an EX score of 701 in January.  My credit utilization has gone from about 18% to 4%, (as of early Feb.), and I assume that primarily because of this my EX score has inched up to 707 since Jan.

Because I've been one of those oddballs who hasn't used a great deal of credit in the past, relying instead on a debit card, my credit history is short.  I picked up a Visa card from my credit union last Sept., and three store cards in Nov. and Dec., so my brief credit history is certainly hurting my score.  Only time can fix that.

In July, '17, I bought a new car, and financed little less than half of it.  For that I took out a $15,000. auto loan, of which I've paid off about $2,000.  I think I'll start paying more on it each month to get it paid off faster.  My store cards are from J. Crew ($1,250. limit), Barney's ($2,000. limit), and Macy's ($600. limit (I don't know why this limit is so low)).  I assume these were all soft pull cards, as I show no hard pulls on my EX report, or the Credit Karma reports.  J. Crew and Barney's were pop-up card offers when I purchased items online, but I applied for the Macy's card in store to save another $100. on a purchase.  My Visa has a limit of $3,000.  I'd like to ask for credit increases, but I need to make sure that'd be a soft pull before I do, and I don't trust sales associates to know the answer to that.

My goal is to be above 800.  I don't know if that's possible to obtain in a year's time, but that's what I'm shooting for.  Advice on improving my score is welcome, and in the mean time I guess I'll just keep 'gardening'. 

---

Welcome, sfgeoff1! You're definitely in the right place to educate yourself, and in the right place to put yourself in a position to get over 800's.

It sounds like you got the Shopping Cart Trick for those two store cards, but not sure if Macy's ever approves with just a softpull. Sounds like you've got everything you need to grow your scores since you have the auto loan too. And kudos for only financing less than half. Wish I could've done it that way. 

[ohjoy]

---

wrote:

Checking in for February on a positive note.  I think my scores are just beginning to rebound from my November app spree. I've been getting a point or two here and there but, I'm encouraged to see +9 with EX yesterday. I've opened no new accounts and received no new inqs.

But, although I'm staying on track with keeping my cards paid, I'm feeling a little all over the place with using them. It's like I have no plan and I'm a planner so...

My goals for this month:

1. CLI NFAmex and Disco2
2. Review my current Rewards programs and figure a best use plan
3. Review current cards and figure best use plan and which to carry for daily use (I feel like I'm eeny meeny miney mo'g my cards and defaulting to PRG because I like using it)
4.  Remaining in the garden (no app'g, no inq)
5. 730+ across the board

Wishing us all a great month!

---

1. Well, my cli have been done and were both successful.

Navy MR $15K --> $25K

Disco2 $1K --> $2K

I have 2 Discover cards. Disco1 is a formerly secured card that has given 2 auto cli but has denied my 2 cli attempts so, I app'd and received Disco2 with a SL of $1K. It seems this one will be the only one that I'll be able to grow via cli. So I'll leave Disco1 and focus on growing Disco2.

2. Pooling points to take my kids on a trip to Arizona to visit family this month. I found that Navy hadn't credited me with the 25K SUB points yet. I have them checking into that. Otherwise, I will finally be able to use some of the perks that comes with Amex Platinum. I have TSA precheck for myself and my daughter paid by AMEX and we'll be taking advantage of Centurion Lounges (or at least Priority Pass club, if Centurion not available. Gotta check that). This will help me to decide whether Plat is worth the AF. So far, so good, year 1 (and AF-less).

3. Still reviewing but have started defaulting to AMEX Plat...just because I like the card. Otherwise, Amex MR has been my daily driver.

4. Still on track. Almost app'd 3rd NFCU card accidentally. Hanging out in the NFCU thread, after reporting my cli, almost made me forget that I'm in the garden.

5. I think I can. I think I can. I think I can.

[Oorah]

I received the results of my 2nd dispute with Equifax regarding the bogus late payments, and they VALIDATED the debt, even with a copy of the dismissed with prejudice court order. I am amazed. I guess I have to file a complaint with the feds now to get it removed. In addition, they dropped my score another 17 points. I have added no new debt, have zero lates, zero collections, and one inquiry on my report and they have my score in the mid 500s. It makes no sense. The other two have me in the mid to high 600s, but I havent pulled a score since they deleted the account. I am baffled and not even sure what else I can do.

Seriously frustrated.

[Anonymous]

I am new to the forum. Looking forward to setting goals and improving my credit!

[IowaGuy]

Guys, I started my myfico journey at 580.

I'm now at 840 after 10 years. I now live in a world where I state "I'm buying the car, and using the promotional credit offer. Tell your F&I guy that I am aware of my credit level" and before I would have trouble even getting a loan.

I remember the debt calls, the disputes, the drama. I played the game. I won.

It's weird though. Once you get past 780 or so you don't even use new credit much. By then new financial habits have kicked in.

Anyways, there is hope. I've been there. I now have like 50-500 dollars at any given time on my card and pay it monthly. I don't even know my total credit limit any more, I've stopped caring long ago.

Yes this is a self kudos post, a long time in the making. And I owe a lot of my success to this forum.

So build that credit and good financial habits up and join me. I look forward to seeing you.

[Anonymous]

Update:  I was persuaded that Macy's would pull a soft inquiry when considering a credit limit increase, so I asked for one.  I used the credit limit increase request button on Macy's website, but didn't ask for a specific amount.  I had initially been given a $600. limit, but Macy's increased my limit to $5,600.  Now I wonder what might have happened had I asked for more.   I love seeing my credit utilization drop to a miniscule 1.2%.