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June Check in Thread

Contributor

Re: June Check in Thread

June 21 update. Parents can be incredibly tough when it comes to credit. Out of respect I can't say 'no'.  I thought I would have all CC debt paid at the end of the month...but I'm not sure if this will happen. I might not see a 0% utilization until the middle of July. ...

Message 31 of 41
Valued Contributor

Re: June Check in Thread


kingkai1990 wrote:

June 21 update. Parents can be incredibly tough when it comes to credit. Out of respect I can't say 'no'.  I thought I would have all CC debt paid at the end of the month...but I'm not sure if this will happen. I might not see a 0% utilization until the middle of July. ...


This is puzzling.  I understand the sentiment of respect and not saying no.  However, there should be no problem with being honest, " I don't have any money." If you owe other people money, "credit" then you don't have money.  If you have to charge, in order to do something, then you don't have money.

 

Respect your plans and if need be, budget to give your parents a monthly dinner, "where you do the cooking" and a quarterly or annual biggie (that you've put in your budget plan). You aren't a bank, with limitless money & you can't count credit as a way to give others a treat.  There was a time that people only used credit to buy cars and homes.  

Based on the recent credit & bank crash, we need to go back to that. Only put on your card, the necesities that you normally pay with cash; then put the amount on autopayment from your checking account.  For instance, your cable/internet bill is due on the 7th.  Set up autopay with your cable company to have the payment charge to your card on the 7th & set your bank account to pay the exact amount to your credit card on the 6th.  You'll have 0 utilization while still building your credit and payment history.

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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Message 32 of 41
New Member

Re: June Check in Thread

It has only been one month and my credit score has increased from  EQ:584 5/15/2014 to a 640!!! I am so thankful for all the information I've gathered here; I know my goal score is just around the corner.

http://i346.photobucket.com/albums/p409/Shereese_Bell/Unknown-1_zpswqj0ldlj.jpeg
Message 33 of 41
Contributor

Re: June Check in Thread


bdhu2001 wrote:

kingkai1990 wrote:

June 21 update. Parents can be incredibly tough when it comes to credit. Out of respect I can't say 'no'.  I thought I would have all CC debt paid at the end of the month...but I'm not sure if this will happen. I might not see a 0% utilization until the middle of July. ...


This is puzzling.  I understand the sentiment of respect and not saying no.  However, there should be no problem with being honest, " I don't have any money." If you owe other people money, "credit" then you don't have money.  If you have to charge, in order to do something, then you don't have money.

 

Respect your plans and if need be, budget to give your parents a monthly dinner, "where you do the cooking" and a quarterly or annual biggie (that you've put in your budget plan). You aren't a bank, with limitless money & you can't count credit as a way to give others a treat.  There was a time that people only used credit to buy cars and homes.  

Based on the recent credit & bank crash, we need to go back to that. Only put on your card, the necesities that you normally pay with cash; then put the amount on autopayment from your checking account.  For instance, your cable/internet bill is due on the 7th.  Set up autopay with your cable company to have the payment charge to your card on the 7th & set your bank account to pay the exact amount to your credit card on the 6th.  You'll have 0 utilization while still building your credit and payment history.


Nope. NOpe.  NOPE! 

 

This just happned yesterday. So food was pulled out yesterday and then she decided she didn't want home cooked food and kind of forced my hand to go and get food. 

 

 

She doesn't care. If I don't pay for something, I'm an ''evil'' child. I swear to God logic does not exist in this house. 

 

She got mad at me for focusing 'too much'' on credit. 

Message 34 of 41
Contributor

Re: June Check in Thread

And my credit score just hit 550......so much for progress. 

 

 

Nevermind. My FAKO score isn't accurate at all. MyFico is 632. Wow. 

Message 35 of 41
New Contributor

Re: June Check in Thread

I already replied once in the June thread, but I received exellent news that I wanted to share today!  8 days ago I had checked my score on CreditSesame, 651.  Today I received an alert saying my score had changed and I wanted to see how much-I had opened a Home Depot card 2 days ago with a $3000 limit. To my surprise that bumped up my score 62 points to 713!!!!  I'm now in the 700 club!  I've put in so much hard work in the past year and a half-I used to be in the 500's and this site has helped me learn so much.  I've also put in a few GW letters-out of 4 attempts, 2 were accepted and I'm not giving up on the others.  I'm so happy right now! 


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


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Message 36 of 41
Member

Re: June Check in Thread

Wow it's hard to believe I started this journey 10 months ago.  My score has gone up a lot I've been paying my bills on time and I've also managed to get 3 credit cards. One is secured with a $500 limit and $0 balance.  I used this card to help me establish credit I kept my utilization under 30% and paid my card off in full most months.  I was able to get another citi bank card recently with a $3000 limit and a capital one card with a $1000 limit.  They both have a $0 balance.  I'm so excited about being able to establish some good credit.  I pay all my bills on time but admittedly my biggest failure lately is sticking to my spending budget.  I haven't made any big purchases but those frequent trips to Target are hurting my budget.  I plan on getting back on track with my budget after sitting down on Sunday in order to revalute what is actually needed and what can be cut.  I have been watching my credit like a hawk and plan to continue to do so until I meet my goal.  Next plan is to refinance my house I did have a $4000 tax bill set back but I have a plan to pay that off before the end of August. I just always keep in my mind that "slow & steady wins the race" & I plan to win!


Starting Score: 559
Current Score: 646
Goal Score: 725


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Message 37 of 41
Established Contributor

Re: June Check in Thread

Congrats! Hard work pays off!! Keep up the good work!Smiley Very Happy

Starting Score : 575 May, 2013
Current Scores: EQ 716 6 INQ TU 745 4 INQ EX 726 3 INQ Last INQ December 2015, In the GC until Jan 2017.
Message 38 of 41
Valued Contributor

Re: June Check in Thread


kingkai1990 wrote:

bdhu2001 wrote:

kingkai1990 wrote:

June 21 update. Parents can be incredibly tough when it comes to credit. Out of respect I can't say 'no'.  I thought I would have all CC debt paid at the end of the month...but I'm not sure if this will happen. I might not see a 0% utilization until the middle of July. ...


This is puzzling.  I understand the sentiment of respect and not saying no.  However, there should be no problem with being honest, " I don't have any money." If you owe other people money, "credit" then you don't have money.  If you have to charge, in order to do something, then you don't have money.

 

Respect your plans and if need be, budget to give your parents a monthly dinner, "where you do the cooking" and a quarterly or annual biggie (that you've put in your budget plan). You aren't a bank, with limitless money & you can't count credit as a way to give others a treat.  There was a time that people only used credit to buy cars and homes.  

Based on the recent credit & bank crash, we need to go back to that. Only put on your card, the necesities that you normally pay with cash; then put the amount on autopayment from your checking account.  For instance, your cable/internet bill is due on the 7th.  Set up autopay with your cable company to have the payment charge to your card on the 7th & set your bank account to pay the exact amount to your credit card on the 6th.  You'll have 0 utilization while still building your credit and payment history.


Nope. NOpe.  NOPE! 

 

This just happned yesterday. So food was pulled out yesterday and then she decided she didn't want home cooked food and kind of forced my hand to go and get food. 

 

 

She doesn't care. If I don't pay for something, I'm an ''evil'' child. I swear to God logic does not exist in this house. 

 

She got mad at me for focusing 'too much'' on credit. 


Sorry to hear that, but stand your ground.  In this situation you have to act like the parent and refuse.  If you're unable to do this, cut up your cards & just keep your necessary information for emergencies.  If you don't have the cards around, you won't be able to treat people on money you don't have.  I think it's easier to be honest & simply say you don't have the money.  Credit is not money.  You would not be lying.  It does not matter if she says you're a bad child. I f you don't have money, you don't have money and that' sthe end of it.

 

A tactic my son-in-law uses with his mom, is to make his case & if she keeps trying to talk about the issue he simply leaves.  I kid you not.  Me & my daughter was with them out of town on a family trip & he left.  We looked at his mom, but we couldn't figure out what to say.  I pulled out a book & grabed myself a bowl of ice cream. Some things can only be fixed by tea or ice cream.

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


Take the myFICO Fitness Challenge
Message 39 of 41
Established Contributor

Re: June Check in Thread

A little late to this year's party but better late than never!

 

I've quietly been working on my credit over the past 18 months and slowly but surely things have gotten much better.

 

Rehabbed student loans and was picked up by a new servicer, 14 months of on time payments and Dept. of Ed removed all negative TLs from my reports!

 

Credit card utilization consistently below 10%, recently received a $2K CLI on my main Cap1 card! Have two other Cap1 cards that rolled over from HSBC, still stuck at $500 on those two.

 

Comenity showed some love and approved a store card for $250 a year ago, recent CLI to $660.

 

Two minor medical collections paid in full, they refused to delete. I send the occasional goodwill letter to them but nothing so far.

 

Car loan current 26 months now.

 

Successful PFD on a university collection.

 

I have a $4155 default judgment for an unpaid hospital bill. Just yesterday my attorney negotiated a $2500 setlltement with a consent order to vacate the judgment. It will be a little while for the court to process the docs and the CRs to update, but it will be gone!!!!!!!!!!!!!!!!!!!!!!!!!!

 

Bit the bullet and called a creditor for a charged off account, they offered 40% of the balance so I am waiting to receive the agreement.

 

Other than this there is not much else to be done except garden my cards, keep paying everything on time, and continue to be financially responsible. I started in the 540s and bottomed out at 517 when the judgment hit my reports last July.  Now I am in the mid 600s. Not too shabby for 18 months of work.

 

Hoping that I will be bumping up on 700 once the judgment comes off. Our goal is homeownership within the next year. Luckily for us we already live in the house as we rent it, but we'd like to buy it.

Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden
NFCU Cash Rewards $14K | Chase Sapphire Preferred $5K | Amex Blue Cash Preferred $6K | Cap1 Quicksilver One Visa $9K

Message 40 of 41