06-13-2014 05:59 PM
I am very new to the myFICO Fitness Challenge but I am ready to take it on. I have been trying to rebuild my credit since 2010, after 2 BKs and a terrible payment history on many accts. Im ready to see where it goes starting to see small progress already. Thanks
06-16-2014 10:30 PM
I am happy to report that I was able to be approved for a new Cap One Platinum Mastercard!!! I got the pre-approval letter in the mail....paced over it for a couple hours and finally decided to pull the trigger. I was only approved for a 300 CL, but that will go up in 5 months with on time payments. I am so stoked. The one commnality I see amongst those with high FICO scores is the ability to hold onto CCs, pay them on time, as well as any other revolving or installment loan.
I was contemplating another secured card, but now I am going to sit back for a bit with my new card, my existing secured card, and continue working on getting those CAs removed from my reports. I am really looking forward to getting to the point where I qualify for a car loan. I could not have done this without the help I have found in the forums. Gonna keep the UTI down and my eyes on the prize!! Woo Hoo!!!!!
06-18-2014 01:23 AM
After 4 years of working towards getting all kinds of baddies off my CR, I only have a few left! They will be falling off in the next 2 years. In the meantime, my goal is to not apply for any new cards or HP CLIs. I want to see what my scores would be like with no baddies and no new inquiries in 7/2016!
I know it's a longshot and it's easy to fall to the wayside when it comes to shiny new cards, but I'm determined to see my scores rise! I started in the mid/high-400s in 2010, and it was very difficult to manuever away from it. But here I am: closed on my home in 2/2014, FINALLY joined the Amex family, and have decent limits on my TLs (really, more than I will use)!
So, I will be sitting back and watching my scores rise (hopefully, faster than they have since 2010 )!
06-19-2014 05:57 AM
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?
Okay here's my June checkin, but I'm about 6 wks into challenge. As a reminder my goals were:
I'm on track to have all credti card debt paid 9/2014; I've gotten all of my credit card debt below 25% utilization and I paid off two cards this month. I was on a plan to pay off all debt by 12/2016 (including my house), but I'm now paying off credit cards and saving additional down payment funds. After not getting either home. Used earnest funds withdrawn from acct to pay off all, but one credit card two days ago.
After I pay off cards, I'll save 3K per month for extra funds toward mortgage (using the extra to cover closing costs and fees so that the down I have saved will go toward mortgage loan). Owe 1K on card. Will save 2K in July if don't acquire house in July.
Going forward, I'm working on goal 1 and goal 2.
06-19-2014 03:20 PM
Color me FIT! The goal for 2014 was to get all scores above 750. In June 2013 my scores were: (MyFICO.com) EQ-660, TU-695, EX-??? after starting in 2012 to rebuild my credit after years of neglect. Using much of the information in these threads I started to focus on strategies to bump up the numbers. I was doing well with TU and EX (so glad they allowed the scores to be sold again) but my Equifax score was always lagging behind...until today when FICO and EQ changed their scoring model. I woke up this morning to a nice alert from MyFICO.com showing that my EQ score jumped!
Last week my scores from MyFICO.com were: TU-824, EX-785, EQ-740. Today with the new scoring model: TU-824, EX-785, EQ-780. A 40 point bump that takes me well above my 2014 goal! I guess it is time to modify the goal and push to 800 on each score by the end of the 2014 fitness challenge.
In my wallet: Platinum Delta AMEX: 18K, NFCU Signature: 25K, NFCU nRewards (was my secured card to start the 2012 rebuild effort, later promoted): 25K, MilStar Card: 8.2K. Util: always less than 10%.
06-19-2014 05:52 PM
Month was starting off well. IT IS CURRENTLY NOT GOING WELL.
Problem is that my family wants to move because they are ''upset'' with the way the apartment we have is. Which I would agree it could be better, but we'll live.
HOWEVER, we absoultely CANNOT afford to move right now. If we do, my credit will suffer badly. Actually, our entire finances because somebody decided to get a luxury car. I was already forced to use 80% of my credit balance this week...
It's not going well and I'm losing faith in my CS.
However, I did send a GW letter to Wells Fargo.
Sorry, just wanted to rant.
06-19-2014 06:39 PM
06-19-2014 07:11 PM
I'm new to posting but I've been lurking for quite some time and decided to join the fun! I've been working on my credit for about two years and am making strides. I recently got married and my husband and I are hoping to purchase our first home this year. I was incredibly ignorant about credit in college and stupid with my finances so I have been battling repercussions from that financial low point for a long time (student loan lates, a CO, and even a judgement *facepalm*). Good news now is that I am nearing the 7.5 year mark on a lot of my baddies. Every open account has been in good standing for two years and I try really hard to keep my 2 cc's util below 20%. I'm really hoping that as these derogs start to fall off, I'll get above the 700 mark. I can't wait to see what you all do to reach your goals in hopes that it will help me reach mine!
06-20-2014 01:00 PM
Kingkai1990- dissatisfaction over where you live should not overshadow the blessing of having a place to live. Something your family might want to think about. There are plenty with no homes at all. I suggest you protect your credit score and tell them to deal. Just my two cents.
Thanks. The biggest issue is people are starting to feel ''entitled'' about living conditions or how our place should be. The problem is that we financially don't plan well. My take on it is go 'one more year'' just so that we can save money and leave. It's becoming much bigger than what it is which will not go well.
06-21-2014 05:59 PM
I'm still on the course and gaining just fine. Atlast i was able to get my scores from MyFico.com (see below). I'm in the garden till Jan 2015.
Ex - 696
Tu - 709