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Registered: ‎09-13-2012
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June Check in Thread

[ Edited ]

Wow! Six months flies by when you are having fun!  I know you are all hard at work  with your credit goals.  As we enter the second half of the year, do you see the need to adjust the goals you set in January? Are you happy with your progress thus far?

 

As a reminder, participation in these monthly check-ins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. 

 

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! What have been your biggest accomplishments and obstacles so far in the myFICO Fitness Challenge for 2014?

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Posts: 714
Registered: ‎12-05-2013
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Re: June Check in Thread


09Lexie wrote:

Wow! Six months flies by when you are having fun!  I know you are all hard at work  with your credit goals.  As we enter the second half of the year, do you see the need to adjust the goals you set in January? Are you happy with your progress thus far?

 

As a reminder, participation in these monthly check-ins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. 

 

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! What have been your biggest accomplishments and obstacles so far in the myFICO Fitness Challenge for 2014?


These are definitely worth it, Lexie. Thank you for posting it. I started the rebuild on 12/2013, and I set some goals. So far only one baddie remains and scores have gone up more than I expected. The last baddie will be tackled this summer and We are well on track Smiley Happy

FICO® EQ 717 (3/5/15); TU08 732 (3/5/15); EX: 723 (3/5/15) - Last app 3/15/15; Inquiries: A TON!

CITI ThankYou Preferred - CL: $2,000




Starting Scores: 590s on 12/2013. Hover over card image to view details! *After Amex approvals - [I was supposed to be] Gardening!*
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Posts: 346
Registered: ‎01-16-2013
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Re: June Check in Thread


09Lexie wrote:

Wow! Six months flies by when you are having fun!  I know you are all hard at work  with your credit goals.  As we enter the second half of the year, do you see the need to adjust the goals you set in January? Are you happy with your progress thus far?


Although I am not officially part of the fitness challenge, I still enjoy reading these threads. I am making steady progress, playing the waiting game while the last couple of negatives fall off my report.

 

Also, technically it's only been 5 months since the year started, and the second half of the year starts in July. Smiley Wink


Starting Scores: myFICO EQ: 678, myFICO TU: 676, myFICO EX: 678 (01/2013)
Latest Scores: myFICO EQ: 777, myFICO TU: 789, myFICO EX: 787
My Wallet: Chase Freedom, Discover It, NFCU cashRewards, Capital One Quicksilver, Chase Amazon Rewards
Gardening since 06/08/15
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Registered: ‎06-08-2013
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Re: June Check in Thread

I started this just a few weeks ago and have already had some success.  I decided to write to Cap One about some lates back in '08-'09 to see if they could GW them.  I didn't think I'd get anywhere because I heard they were tough, but to my surprise they did GW them!!!  Plus, I asked online to Cap One if they could lower my APR and delete my AF on another account (I have 4 total), that they declined, but did credit me half the cost of my AF.  During that conversaton I asked to have other lates on that account GW'd, they turned over the necessary paperwork and when I found out the first acct got GW'd, I also found out the 2nd one was getting GW'd.  Go Me!!!  I also got approved for a Chase card with 0% APR w/ balance transfer til Sept 2015 and 17,99% after that-approved for $2000.  I transferred a Cap One balance over (will hopefully pay it off while its 0%) and then asked Cap. One for a lower APR on that card (currently 19.99%)....they agreed to 15.99% for 7 months (I can still get my cash rewards which I put into savings and pay off the balance monthly on the my CC).

 

I did find a speed bump though. I am looking into a mortgage in about a year or two.  Currently I am on a Income Based repayment plan with US Dept of Ed.  But they still report that I should pay $724/month for my loans.  Yikes.  This brings my DTI ratio way out of whack finding it hard to get preapproved.  Also going thru my CR with a fine tooth comb I found out I had 26 late payments with AES/BRAZOS back in 2008-2009 (very bad time in my life).  I defaulted and rehabbed and got up to date on those payments...but still have the lates showing.  Not sure if they can be GW'd, but I found they will be dropped starting in Oct 2015.  My score has slowly increased in a few weeks-by 6 pts Smiley Happy   and I now need to learn some patience-Rome wasn't built in a day.  If anyone has any advice on my SL situation, I would gladly love to hear it!!!


Starting Score: 645
Current Score: 713!
Goal Score: 700


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Posts: 14
Registered: ‎07-09-2007
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June Check in Thread

[ Edited ]

Well I just started. 

 

But I did apply for a Capital One Secured card. I was very happy that I only had to pay the $49 deposit for the $200CL. I am thinking perhaps my credit score isn't as bad as I thought it would be. I will pull my score soon to see what it is. 

 

ETA I pulled my FAKO TU score and its 530 which is really shocking to me. It also makes me wonder if this is after taking a hit for a Hard Pull for the Cap1 card I applied for yesterday. I honestly thought it would be about 400 or so. I am excited to see what this new Cap1 card will do to it once it starts reporting.


Starting Score: 530 TU FAKO
Current Score: 530 TU FAKO
Goal Score: 600+


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Valued Member
Posts: 88
Registered: ‎04-16-2014
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Re: June Check in Thread

Hi newdeep, congrats on the new CC!  Cap One is how I started rebuilding last July.  After 6 months of on-time payments they should give you your deposit back and maybe even increase your limit!  A few months after that I asked them to upgrade my card to one with Rewards and they decided I was eligible for that and converted my unsecured Platinum Classic to a QuicksilverOne Rewards card!  So you have that to look forward to in the coming year some time.  FYI your statements generally generate on the 12th of the month and Cap One reports the balance on your statement date promptly to all three bureaus.  Remember not to utilize more than 30% of your credit limit ever, and make sure your balance is less than 10% of your credit limit on the 12th for the most optimal utilization history on your credit reports (between 2% and 9% on one card is what the scoring algorithms like best).  Even manipulating just these few dollars you'll see a pretty exciting score surge in the next few months!

 

I like to use ScoreWatch by MyFICO to constantly monitor my actual FICO score (Equifax).  If you search around online sometimes there are intro deals where you get the first month for $4.95 and then it's around $15 thereafter.  Well worth it - any time your score changes you get an update!  They also make a cool app for your phone.


Starting Score: 560
Current Score: 652 EX / 675 EQ / 643 TU
Goal Score: 700

Cap One QuicksilverOne $3000 | FirstTech FCU Visa $2500 | Discover IT $1500 | Amazon.com $700 | JCrew $600 | Ann Taylor $500 | VS $350 | Nordstrom Visa (AU) $15,000 | American Express® Gold

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Posts: 88
Registered: ‎04-16-2014
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Re: June Check in Thread

Hoping I have a reason to check in more than once this month!  Anyway here's what I'm up to...

 

I finally gave in and purchased my TU FICO score just so I could have the set complete, and because I heard MyFICO just upgraded their TU scoring model.  Score is 643.  Better than my other two, except my EQ used to be 650 and I think took a nosedive when MyFICO started using a different EQ scoring model this spring.  

 

Feeling bolstered by the score I tried calling Barclays for another recon on my app from March.  Barclay's basically said I didn't have enough revolving history - my oldest open card was opened last July.  I asked what the timeframe should be were I to call back later - should i wait til I have a year of positive history for example?  He wouldn't answer that question and just said longer is better.  Well if I wait much longer an unpaid collection will fall off, my inquiries from last summer will age past a year, and a bunch of other good stuff.  So then what's the point of reappying for a Barclays card for people with so-called "Average" credit?  I might be able to get a prime card by fall anyway.  This was just supposed to be a midway-there step.  Guess I have to let that go and be patient.

 

It's hard to be patient.

 

 


Starting Score: 560
Current Score: 652 EX / 675 EQ / 643 TU
Goal Score: 700

Cap One QuicksilverOne $3000 | FirstTech FCU Visa $2500 | Discover IT $1500 | Amazon.com $700 | JCrew $600 | Ann Taylor $500 | VS $350 | Nordstrom Visa (AU) $15,000 | American Express® Gold

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Posts: 25
Registered: ‎03-26-2010
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Re: June Check in Thread

Live and learn.  I received notice from FICO today that my score had dropped by 13 points, from 813 to 800.  The reason cited was a change in my Equifax credit report, which had triggered an alert.

 

I checked the alert, which was the result of my address having been changed from "1234 Main Street, Penthouse 2, Boondocks, Florida 55555" to 1234 Main Street, Boondocks, Florida 55555."  So, somebody's omitting "Penthouse" from my address cost me 13 points?  I would also note that my score had risen from 790 to 813 over the course of more than four years, during which time I paid off two mortgages, five auto loans, and three consumer loans.  I currently have no liabilities and my credit card balances are near zero. 

 

This experience has pretty much confirmed my original opinion of the entire CRA/FICO industry; a useless undertaking subject to the whims of incompetent analysts or poorly-written algorithms.

 

 


Starting Score: 813
Current Score: 813
Goal Score: 825


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Posts: 8
Registered: ‎04-15-2014
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Re: June Check in Thread

I've been making an effort to maintain a very low utilization for the past couple of months and I have finally seen an increase in score! I am now at a 708 up from a 697! Whoop!


Starting Score: 697
Current Score: 708
Goal Score: 750


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Posts: 6
Registered: ‎05-29-2014
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Re: June Check in Thread

[ Edited ]

Quick question -

 

How are you guys knowing what your score is in what seems to be from day to day?

 

I read a little on "Score Watch" but still a bit iffy on pulling the trigger.


Starting Score: 671 (5/2/2011)
Current Score: 697 (1/7/2014)
Goal Score: 850


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