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Registered: ‎01-15-2009
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March 2017 Check In Thread

 

I know you are all hard at work with your credit goals.  Have you progressed as far as you hoped?  Were there any unforseen expenses that cropped up and may have thrown you off schedule?

 

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.

 

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!

Established Contributor
Posts: 687
Registered: ‎09-28-2016
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Re: February 2017 - Check In Thread

[ Edited ]

harlemnygirl wrote:

My goal is to pay down my utilization (currently at about 40%) to below 30%.   


You should see a score boost when you get it below 30%...and also when it below 9%.  I hope you let us know what points you see. Smiley Happy  Good luck! 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 Contributor
Posts: 687
Registered: ‎09-28-2016

Re: February 2017 - Check In Thread


DollyLama wrote:

I'm new to the game, but hope not too late for the challenge. Lurked around forums past month, making a plan. Began today with the 3B. Scores fair. 

 

Goal Plans:

 

1. Pay down/off all credit cards except one to <10% utilization. (Have PIF 2 of these cards just within the last week)

2. Garden my cards till late in year, as my highest limit one is only a 1k limit, with HD, and age the accounts.

3. Only true credit card ie Visa, MC is a Milestone with a low limit 300, and $99 ! yearly fee. Hope to increase my FICO for a decent V or MC with a higher CLI and no fees!

4. Wait for inquiries to fall off, 2 cards were opened this year, new credit affecting current FICO. 

5. Save! Apply what I had been paying towards CCs, to go into a savings account for emergencies. This plaques us often, car, house repairs, repairs still needed.

 

 

 


It's never too late to enter into the challenge! Smiley Very Happy

 

These are all excellent goals! It certainly takes the pressure off when you have that emergency fund for emergencies.

 

$99 on a $300 limit. Yikes.  Yeah, I would be looking to get rid of that asap.  If you wish to maximize your score, you would want that one card that will have a balance to be <9% not <10% as I believe 9% is when the penalty points start.  Please keep us updated!

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 Contributor
Posts: 687
Registered: ‎09-28-2016
0

Re: February 2017 - Check In Thread


Johnson767 wrote:
Im checking in for the first time. Im new to the forums. I only officialy joined a a couple weeks ago but over the last year I would google questions I had & 9 times outta 10 it lead me to a thread here. These forums have been very useful in helping my establish good credit. Specifically with joining navy federal credit union & the asking for increase. Im currently at $15,000 limit. I also got the synchrony number for the overseas credit increase dept & have limits of $5000-10,000 on 5 synchrony cards. I have picked up many other tips as well. As far as goals I dont really have many. I do want the Marvel Card. I want to get a 2nd navy federal card and an increase on my local credit union Visa. I need to wait until June though because I have 5 inquiries that fall off my report in april & may. Other than that I just intend on gardening.

Welcome to myFico!  I think that's how I found them too! LOL!  Wow! Your CLIs are AWESOME.  Letting your cards age a bit is always a good idea. Smiley Happy  Do keep us updated with your progress ...I'm in the garden as well.. 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
Regular Contributor
Posts: 138
Registered: ‎06-22-2011

Re: February 2017 - Check In Thread


LOTR wrote:

DollyLama wrote:

I'm new to the game, but hope not too late for the challenge. Lurked around forums past month, making a plan. Began today with the 3B. Scores fair. 

 

Goal Plans:

 

1. Pay down/off all credit cards except one to <10% utilization. (Have PIF 2 of these cards just within the last week)

2. Garden my cards till late in year, as my highest limit one is only a 1k limit, with HD, and age the accounts.

3. Only true credit card ie Visa, MC is a Milestone with a low limit 300, and $99 ! yearly fee. Hope to increase my FICO for a decent V or MC with a higher CLI and no fees!

4. Wait for inquiries to fall off, 2 cards were opened this year, new credit affecting current FICO. 

5. Save! Apply what I had been paying towards CCs, to go into a savings account for emergencies. This plaques us often, car, house repairs, repairs still needed.

 

 

 


It's never too late to enter into the challenge! Smiley Very Happy

 

These are all excellent goals! It certainly takes the pressure off when you have that emergency fund for emergencies.

 

$99 on a $300 limit. Yikes.  Yeah, I would be looking to get rid of that asap.  If you wish to maximize your score, you would want that one card that will have a balance to be <9% not <10% as I believe 9% is when the penalty points start.  Please keep us updated!


Thank you for the <9% tip. As I was waiting till my next payment is due, and had calculated how much to pay down to hit the target at 9.9%. With your advice, it will optimize it the most at the minimum 8.9%.  Already getting points jump on 2 of my FICOs on just the one CC pay off, nothing reporting yet on 2nd CC payoff with horrible Milestone 300 limit with $99 yrly fee!  That one was the high priority to pay off first! 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:05/13/2017 Score 8 EQ 698 TU 753 EX 756
Mortgage Scores 04/23/2017 EQ 659 TU 694 EX 661
Goal Score: 750+ ATB FICO 8, Mortgage Scores 700+
New Member
Posts: 4
Registered: ‎03-27-2011

Re: March 2017 - Check In Thread

[ Edited ]

My Goal is to reach over 800+.

 

If I look back to January 2016 my scores were in the high 500's.  Now my scores are in the upper 700's. The score change has been all due to the credit card use, or should I say over use.  I refi'd my home mortgage and paid off some of the debt, then borrowed a loan from SoFi to pay off the rest.  Thus the huge credit score increase.  After I paid these cards off, I have been researching the proper way to use cards, get the benefits, without carrying a balance and it has been overwhelming.  

 

I discovered if I carry a balance is has to be no more than 20% to 30% for each card and overall credit line, but creditors want less for the best scores. My credit cards had small credit limits, so if I do carry a balance it cant be very much.  So i went to my credit companies and asked for increases.  Some said nope, you paid the min. payments for too long and doesn't work for us.  I am sitting now with scores in the high 700's and getting rejections, not fun.  I also realized I am not getting benefits for cards that are costing me money, so they need to go.  But wait, now I have to think about average age of the card and by closing a card how will that impact my score.

 

I researched next every credit card start date and calculated the impact of the age of the cards.  Then I cancelled cards that cost annual fees with no benefits.  I then applied for new cards, joined PenFed, they gave me a 12,500k cc, joined NASA, they gave me a 10,500k cc, and 10K LOC, joined NFCU they gave me 24K cc and LOC 15K, combined my 2 bank of america cards for a 20,200k available. USAA 2,500 cc.    I dropped my AAoA to 50 months.

 

My score feels the impact of the new credit and the closed credit cards, but I know it is only temporary.  These changes are not just about having more credit.  It is about better credit.  I have made a spreadsheet to use these cards without carrying a balance to get the best benefits, knowing when I have to pay them off for the score and before interest hits.  This is is a lot of work to get the timing down.  This will be a work in process.  

 

I went out and bought a new (used) car and lowered my payments and cut my interest rate in half to 2.74%.  The savings goes into the a REAL savings account for emergencies so I do not have depend on the credit cards.  I am going to build of the savings account for while, then start increasing the payments on the loan.

 

What is next....Continue with micro utilization and wait for scores to go up as I recover from new credit, closed credit and inquiries. One day I will hit 800's. Hyper focusing this number is not necessary.  My score are good and I have more credit than I need.  

 

No more have card will swipe actions for me.  

 

Thank you for reading.

 

Starting Score: 634 EX - TU 633 - EQ 631 (01/06/17) Fako
Current Score: 770 EX - TU 778 - EQ 761 MyFico (3/9/17)
Goal Score: 800+


Take the myFICO Fitness Challenge


Established Member
Posts: 15
Registered: ‎02-14-2011

Re: February 2017 - Check In Thread

I HIT THE 800 MARK!

 

Over 7 years ago, I was below 500 - I would have never imagined I could ever reach a score in the 800's.

 

Over the weekend, I got a 41 point boost on EQ thanks to a balance increase of $3k on my Chase Freedom Unlimited cc.  In January I applied for the card so I could get the 1.5% cash back.  I use that in place of my debit card, and just wipe out the balance when the statement comes in, so the credit report can reflect the changes/fluctations in debt. 

 

I really wasn't expecting such a major boost; with TU and EX, my points actually dropped 2-3 points.  I'm SURE I'll be able to reach 800 on the other two CRs by the end of the year!


Starting Score: EQ 766 TR 767 EX 754
Current Score: EQ 807 TR 766 EX 750
Goal Score: 800 across the board


Established Member
Posts: 11
Registered: ‎03-05-2016

Re: March 2017 Check In Thread

Not too much to note with my FICO 8 scores.  Since February I've gone from:

EQ: 767 -> 779

TU: 718 -> 721

EX: 766 -> 775

 

I believe that score increase was primarily from having less CCs reporting with balances as I had switched up a couple bills that were hitting the last day of each statement and reporting balances.  I also had $2K of soft pull CLIs.  Once my last account updates in the next couple of days, I'll be down to 1% reported utilization.  

 

I'm more excited about the movement in my mortgage scores going from a midpoint of 738 to 743.  Since December, the movement has been:

EQ: 738 -> 743

TU: 691 -> 711

EX: 734 -> 750

 

I also made good progress in saving my entire bonus for a downpayment.  Just time to continue waiting and saving as there's potential for a move sometime in the next 3-7 months.

Starting Score: (3/1/16) EQ/TU/EX 605/619/616
2017 Starting Score: EQ/TU/EX 767/718/749
Current Score (3/21/2017): EQ/TU/EX 779/721/775

Take the myFICO Fitness Challenge
New Member
Posts: 2
Registered: ‎01-21-2017

Re: March 2017 Check In Thread

 

Score increased!

 

I'm so glad to announce that I had score increase in all credit bureaus. In Janurary when I apply for atuo finance I discovered that my credit was not in good shape. I was so mad to see my score as EX 579  EQ 533 TU 535.  So I started to make plans and learning more and more about credit. I got credit report from all credit bureaus for free and I realized that my personal information were wrong.  All reports showed my name in 5 different ways and the addresses where I lived were all wrong. So I called each one of the credit bureaus and started to clean up. I sent letters to all soft and hard inquires. I still have 2 charge offs from First Premier and Capital One. I need help to remove both charge offs.

 

This month I received automatic credit increase for one of my credit cards. My credit utilization was 52% last month, this month I will have 38% of credit utilization. I hope my credit score will increase more points.

 

 My goals will continue:

 

  1. Improve my FiCO score to 700-750 range.
  2. Pay off my debts.
  3. Get my first auto loan approved with less 7% APR.
  4. Save 10% of my income every month.
  5. Keep my credit cards under 30% utilization.
  6. Pay off My FP credit card and remove it from my CR.
  7. Remove Natural Gas from my CR.
  8. Get approved to increase limits in NF, CO and CO credit cards.

 

 

Gardening..... 

 

Starting Score: EX 579  EQ 533 TU 535 on 1/1/2017

Current Score: EX 624 EQ 622 TU 629 on 3/22/2017

Goal Score: 700

Regular Contributor
Posts: 138
Registered: ‎06-22-2011

Re: March 2017 Check In Thread

I had some hiccups this month to delay my yearly goal. Windstorm blew through, took out 2 fence panels and a gutter on the garage, plus now a pulley busted and one door is askew. Nothing significant to file an insurance claim with our 1k deductible on the wind damage, the garage door is due to age. Argh! 

 

I was pleased to see increases across all bureaus reporting on CC's ( I never get alerts of decreased balances on 2 small installment loans-when I first received my 3B report it was showing high balance and current balance and current month was reported-so not sure how that factors).

 

Got 20 pt increase on EQ, 27 pt increase on TU, and 37 pt increase on EX. All just from just PIF on 2 cards, leaving a remainder on 2 that I'm working on, but decreasing utilization, throwing $ at them twice a month, well exceeding the minimum due. 

 

My working goal has a new adjustment, as besides score improvement, my husband and I wish to buy out next year a home he inheirted from his mother, but only 1/4 owner with other siblings, been causing strife, as my husband is the one paying property taxes, insurance on the home, and as much upkeep as possible. They refuse and just reaping the benefits of the value. It should have been sold long ago, but he has a sister that never married, no kids, lived there all her life, currently no job in past 2 years. Arguments abound that 2 siblings feel "sorry" for her, and we are at the stance of she is in her 50's, and put herself in this position. Hope dangling $ in front of her face will make her want to sell her portion. 

 

Currently working on what showed at some collections, report showed 5 total between all 3 bureaus, 4 of which are under $100. No derogs thankfully on current credit, or past credit (although it was a very thin file to begin with). Contact 1 CA that had 3 showing and working on pay for delete. Well they will delete but they somehow added collections to the total that was not report on my bureau and also stipulated I had to pay my husband's medical collection to get the PFD. It was only $40 but still peeved me. 

 

Hoping when those report (stated the 15th), I will see some improvement with derogs coming off. Just taking it day by day. 

Starting Score: 2/23/2017 Score 8 EQ 651 TU 659 EX 679
Current Score:05/13/2017 Score 8 EQ 698 TU 753 EX 756
Mortgage Scores 04/23/2017 EQ 659 TU 694 EX 661
Goal Score: 750+ ATB FICO 8, Mortgage Scores 700+

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