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Posts: 10,071
Registered: ‎01-15-2009
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January 2017 Check-In

 

A new year is often a time that people reflect on past events and is also a great time to renew something in your life. Maybe that renewal or renovation is on your financial body or physical, now is a great of time as any to shed those extra things holding you down from being the best you possible.

 

Most people sit down and write out New Year's resolutions.  Credit wise, what would be on your list?  

 

As a reminder, participation in these monthly checkins is optional but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. This is a no-judge zone; feel free to say what's keeping you up at night or give yourself a kudo for having it all together.

 

If you're a continuing myFICO fitness challenger: Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?

 

Let us know how you're doing! Now that 2016 is behind us, 2017 can only be positive moving forward provided we make the good, hard decisions.

 

Remember now is the time to update your signatures!! https://goo.gl/7iIjO5

Established Contributor
Posts: 687
Registered: ‎09-28-2016

Re: January 2017 Check-In

[ Edited ]

Well, I did not meet last year goals, but 2017 offers a fresh start!.  My biggest mistake from last year was that my goals were based on the simulator projections AND I app'd for cards which dropped my scores some.  Lesson learned Smiley Wink

 

My main goals for 2017 are:

  • Reach Fico 8 700+ score across the board. This esssentially only means increasing my EQ score. TU and EX are already above 700, so I only hope to maintain those scores. EQ has been a tough cookie to crack lately.  
  • Get middle mortgage score to atleast 740.  Even though at the moment, my middle score is 738, I have yet to retrieve my latest reports.  I suspect my mortgage scores have dropped, even with the SSL trick. Also, the SSL trick will not help my middle score since EX is my highest mortgage score.
  • Save up atleast 5% down for mortgage. 
  • Have pre-approval mortgage offers in hand by end of 2017.
  • STAY in the garden until close on mortgage. 

Although I am not sure it's possible, I would also like to accomplish the following:

  • Try to get the three 30-day lates off of my CRs via GW letters
  • Try to get the PIF State Tax lien removed from my EQ and TU reports.

May all meet and exceed their 2017 goals!  

Happy New Year!! Smiley Happy

gardening since: 12/02/2016.... last updated: 03/02/2017....rebuild starting score: (02/20/2016) EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 727, TU 04: 745, EX 02: 796
Goal Score (Mortgage): EQ 05: 760, TU 04: 760, EX 02: 796
Curr. Score (Fico 8): EQ: 760, TU: 769, EX: 801
Goal Score (Fico 8): EQ: 800, TU: 800, EX: 801 .......Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,475
Registered: ‎06-13-2016

Re: January 2017 Check-In

I've been looking forward to joining the myFICO Fitness Challenge!

 

My 2017 goals are:

 

1). To garden the cards I got last year post-BK, letting those tradelines age and grow. without opening any new tradelines.

2). To continue to manage utilization and reported balances

3). To watch my inquiries drop from EQ 6, TU 5, EX 8 down to EQ 3, TU4, EX 4 by June.

4). To pay an extra $100/month on my highest balance and highest interest student loan, which is upside down due to interest accruing while in deferment (I know I should have paid it as I went, but the BK and events leading up to didn't allow for that).

5). To continue saving about 10% of my gross income each month.

 

Pretty simple and it doesn't require a lot of action, just restraint! Smiley Happy

 

 

Current Scores------ EQ 691; TU 651; EX 682 FICO 08---------------- Gardening until 07/07/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

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Moderator
Posts: 17,377
Registered: ‎12-30-2011

Re: January 2017 Check-In

2016 sucked, but it's done, finally!

 

2017 will be better.  Simple goals this year:

  • Pickup a good travel card, needs to happen for the gig
  • Pay off the HELOC balance I ran up in 2016
  • Sit on my hands otherwise stuffing money into an investment account or throwing it at my current mortgage.
  • Try dating

This year is all about learning more about myself and other people, credit wise I hope it's profoundly uneventful... other than the fact that in roughly 10 months I'm Zestfully clean on EX/EQ Smiley Happy.  There will be much celebration when that occurs.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 688, TU 4 758, EX 2 703, EQ 8 728, TU 8 762, EX 8 739 (6/12/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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New Contributor
Posts: 51
Registered: ‎11-23-2012

Re: January 2017 Check-In

Primary 2017 Goals:

 

1) Pay off my old credit card debts and chargeoffs. 

1) Get as many of my lates and charge offs GW'd as I can.  

2) Pick up 2 unsecured credit cards so I can cancel my Merrick (which won't graduate) and keep my Citi secured card which should graduate in time (would also be acceptable to get secured cards which I can expect to graduate eventually).  Would like to have 3 unsecured cards or cards which will eventually graduate - preferrably with no annual fees.

3) Get my credit cleaned up to a point where, if my business partner and I need to get funding for a large inventory order, the banks won't just laugh at me (not sure yet what that point is to be honest... probably depends on the size of the loan, I guess).

 

January Specific:

 

1) Catch up on everything necessary to do my business and personal taxes so I can see how much, if anything, I owe this year.

2) Once I know how much I owe, make a budget for how much I can begin paying back on old debts.

3) Begin paying back the creditors that I can and start sending out GW letters shortly thereafter.

 

Credit decimated by health issues, rebuild starting point: Dec 2016
Starting Score: EX: 485 - EQ: 486 - TU: 475
Current Score (Jan 01, 2017):EX: 509 - EQ: 483 - TU: 475
Goal Score (Jan 01, 2018): 600+


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Regular Contributor
Posts: 232
Registered: ‎10-25-2010

Re: January 2017 Check-In

I didnt really have formal goals for 2016. Nothing that I posted, but I did have a few "wishes" that came through as the year progressed. Hit all time highs on all of my credit scores, financed a new car at best interest rate, continued saving for retirement & kids college.

 

Baddies fell off all my credit reports, with the exception of a couple lates which should fall off by end of summer 2017.

 

2017 Goals

  1. Reduce UTI to under 10%
  2. Enter and stay in the Garden
  3. Get credit scores to 760 across the board
  4. Increase investment contributions across the board, especially retirement (target 10%)
  5. Reduce my expenses across the board

Starting Scores: 667 EQ 09/2013 | 682 TU08 01/2014 | 689 EX 06/2014(via AMEX CLI)
Current Scores: 667 EQ 09/2013 | 735 TU08 12/2016 | 748 EX 12/2016

AMEX BCE $25K | AMEX Zync NPSL | Cap1 Quicksilver MC $6.9K | NFCU Visa Signature cashRewards $20K
NFCU NavChek $15K | PenFed Visa Platinum Cash Rewards $5.9K | Target Visa $11K | Comenity VS $6K | Walmart $4.5K
Established Contributor
Posts: 687
Registered: ‎09-28-2016

Re: January 2017 Check-In

[ Edited ]

Well, I just pulled my reports for January and the results...

 

mortgage trifecta scores:

EQ 05 remained the same at 725.

TU 04 dropped from 738 to 729.  <--- ouch! my middle mortgage score was sooooo close to 740 before THIS happened. Smiley Sad

EX 02 dropped from 782 to 766.  <---- should improve once my SSL reports - but still doesn't help my middle mortgage score! *sigh*

 

fico 8 scores:

EQ increased from 685 to 694.

TU decreased from 709 to 708.

EX remained the same at 740.

 

Not what I wanted to see on the mortgage scores, but also not surprising given the new TLs I added the last month or two.  I can only hope they will improve significantly over the next 6-9 months!

 

The good news is I'm only 6 points away on EQ to reach my 700 across the board goal. Smiley Happy

 

gardening since: 12/02/2016.... last updated: 03/02/2017....rebuild starting score: (02/20/2016) EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 727, TU 04: 745, EX 02: 796
Goal Score (Mortgage): EQ 05: 760, TU 04: 760, EX 02: 796
Curr. Score (Fico 8): EQ: 760, TU: 769, EX: 801
Goal Score (Fico 8): EQ: 800, TU: 800, EX: 801 .......Take the myFICO Fitness Challenge
Established Member
Posts: 22
Registered: ‎09-03-2012

Re: January 2017 Check-In

2016 provided me with it's fair share of setbacks but also some positives. 

 

I gained a new unsecured credit card through Merrick Bank and was able to have my credit line doubled because of paying off the balance in full monthly. This was huge for me, as I have always struggled to pay off ANYTHING in a timely manner, no matter the amount. 

 

I have also managed to get a hold on paying off my bills on time as well. While I understand that this may be minor to some, this is a big deal for me considering that I had no discipline regarding this before. 

 

For 2017, my goals are to garden for the first 6 months before hopefully adding a premium credit card that allows me to take advantage of travel perks. I also want to continue the trend of paying off bills in full on time and keep my utilization on my cards to under ten percent. 

 

I have $54k in student loans, and would like to pay off at minimum 15 percent of that amount before the year is over. 


Starting Score: EQ 581 TU 579 EX 595
Current Score: EQ 581 TU 579 EX 595
Goal Score: EQ 725 TU 725 EX 725


Contributor
Posts: 76
Registered: ‎08-18-2015

Re: January 2017 Check-In

Happy New Year My FICO friends,

 

I have been on a break.  My last 3 months of 2016 was rocky financial wise and credit wise with rollercoaster waves in my scores.  Like someone stated in their challenge, the simulator is not a good model for Reliance.  I am for 2017 giving a very serious look at my credit card appetite by first clearing out the cards I do not need.  I am on an up tick with my scores and would like to see 800 for the first time in my life.  Although I have a way to go, that is my goal.  Financially my goal is to finally try staying on track money wise.  Millennials, if you are reading this and also for those seasoned strugglers, your financial picture has a lot to do with your credit picture so with that said do not bite off more than you can pay for.  

Established Contributor
Posts: 687
Registered: ‎09-28-2016

Re: January 2017 Check-In

[ Edited ]

My Alliant Share Secure loan reported on EQ today and I got a 18 point Fico 8 EQ score boost (from 694 to 712).  This boost allowed me to reach the goal of 700+ across the board!    Whooo hooo!

 

2017 goals:

  • Reach Fico 8 700+ score across the board. This esssentially only means increasing my EQ score. TU and EX are already above 700, so I only hope to maintain those scores. EQ has been a tough cookie to crack lately.  
  • Get middle mortgage score to atleast 740.  Even though at the moment, my middle score is 738, I have yet to retrieve my latest reports.  I suspect my mortgage scores have dropped, even with the SSL trick. Also, the SSL trick will not help my middle score since EX is my highest mortgage score.
  • Save up atleast 5% down for mortgage. 
  • Have pre-approval mortgage offers in hand by end of 2017.
  • STAY in the garden until close on mortgage. 
  • Try to get the three 30-day lates off of my CRs via GW letters
  • Try to get the PIF State Tax lien removed from my EQ and TU reports.
  • Get Fico 8 740 or more across the board

 

 [EDIT]

Also just received a myFico updated indicating I got a 17 point boost on TU Fico 8 (from 708 to 725).  This is also likely due to the Alliant Share Secure loan reporting to TU.  As a result, I've added a new goal to get 740 across the board for Fico 8! Smiley Happy

 

 [EDIT 01/13/2017]

Just received a 20 point boost on EX Fico 8 as a result of the Alliant Share Secure loan reporting to EX.  I won't know how much of a boost I got on the mortgage score until next month.

gardening since: 12/02/2016.... last updated: 03/02/2017....rebuild starting score: (02/20/2016) EQ: 648 TU: 642 EX: 657
Curr. Score (Mortgage): EQ 05: 727, TU 04: 745, EX 02: 796
Goal Score (Mortgage): EQ 05: 760, TU 04: 760, EX 02: 796
Curr. Score (Fico 8): EQ: 760, TU: 769, EX: 801
Goal Score (Fico 8): EQ: 800, TU: 800, EX: 801 .......Take the myFICO Fitness Challenge

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