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November 2017 Check In Thread

Contributor

Re: November 2017 Check In Thread

Dstryerofworlds wrote:

Great job!  How did you get such high numbers so fast?  I would love any info you would share.  I have been working on my score for a few months with pretty good success but you got over 100 points in 6 months.  

My issues when I started was a short file and a collections account. I started by opening 2 secured accounts with only $200 each and managed those well and then Credit One came along and offered me an unsecured card for $500. I knew it was a crappy card but I needed something unsecured. I also talked my brother into adding me as an AU on one of his accounts to add to my short history. (I don't think i carries much weight now but it helped then). Then, my BIG break came when I signed up for NFCU. This was the best decision for me, creditwise. They originally declined me for a credit card and I tried again that next month after having 3 months of great credit reporting and my brother's account added . They approved me for $7K. I started running my bills through those cards strategically.

 

My scores started rising steadily but, that collections was holding me down. It was only $541 and had been on my reports for years without me knowing about it (all previous credit was in ex-hubby's name so I never checked). I fought that like it was my fulltime job.  Meantime, I bought a car for my daughter in July and got a loan through NFCU. That helped my credit mix and my profile was starting to look pretty good. But, bac to the collections fight.

 

I threatened Midland Funding and the credit bureaus (Note: It was never on Experian) to no avail. Someone at Equifax told me I wasn't going to get far unless I filed a complaint with CFPB or BBB.  I filed a complaint with the BBB and finally ended up filing with CFPB. By this time, TransUnion agreed to drop it because it was going to drop in a few months anyway. I sent in copies of everything that I'd sent to everybody and the fact that EQ advised me to push forward, and Midland responded with the same ol' bull and CFPB closed the case. I called CFPB demanding to know why they closed it based on that BS response. The agent told me to file against EQ and the OC. I filed against EQ and it went poof!  That left me with a clean report with a few months of excellent payment reporting, on the cards and my daughter's car. At this point, all of my numbers were in the 700's. So, then it was time for me to get a car for myself (mine was totaled in an accident back in May, which is why I started looking at my credit to see if I could get a car).

 

It's amazing at how fast my scores rose but, I've strategically working on my credit, checking my numbers and hanging out on myfico boards the whole time. Keep going. You will hit your goals in no time! My credit is a night and day difference between where I started, once I committed to building. I signed up on this community awhile ago but just never did anything until I decided to commit to building. It only takes a decision and commitment. You'll do it too! Smiley Happy

 



Starting Score (May 2017): 584 TU
Current Scores: 760 TU, 764 EQ, 727 EX
Goal Score: 820+



Message 11 of 23
Contributor

Re: November 2017 Check In Thread


ohjoy wrote:

So, I started this month with pretty decent scores. But, it was definitely time to get myself a car. I've been without one since 5/24/17, when it was totalled. I bought my daugter a car back in July so, I thought I'd better hold out for as long as possible to get mine. I felt pretty confident with all of my scores being over 720, which is top tier with Lexus. So, I leased my car a couple days ago. 

 

Then, I thought I'd better app for the cards that I want before the dealership inquiries hit. I actually only got 2 inquiries but, I expected more since my daughter's car purchase hit me with 10+. So, I app'd and received:

 

Ameriprise Platinum AMEX

AMEX PRG

AMEX BCP $1000

NFCU AMEX $15,000

Discover It Cash $1000

and CLI on my NFCU Signature Cash Rewards from $7000 to $14000

 

I am officially headed to the garden to hide while the dust settles on all of that activity.

 

So far, my Equifax and Experian scores have both dropped 8 points. Not bad. But, that's so far.

 

My goal last month was to get my scores to 760. I did that with EQ and close with TU but, now, my goal for this month is to garden, hope the fallout doesn't set me back too much and that I can rebound. 


So, I'd like to update since we're midway through the month.

 

First, I accidentally got approved for a synchrony account for $3500.  I applied at a furniture store to find out how much they'd give and the interest rate. It wasn't what I wanted so I didn't go through with the purchase. But, the account is on my report anyway.

 

As for my credit scores, EQ gave me back the 8 points and then took away 16 since the sync inquiry. Ah well. I'm still over 740 so, I'll live.

 

But in the meantime, when I set up my AMEX Gold and Plat accounts online, I applied for the extended pay option and both seemed to turn me down. But today, I get letters saying that I was approved for both. So:

 

Amex Gold (PRG) $25K

Amex Plat $35K

 

Boy, oh boy! I'm feeling like I'm in the big leagues now.



Starting Score (May 2017): 584 TU
Current Scores: 760 TU, 764 EQ, 727 EX
Goal Score: 820+



Message 12 of 23
New Visitor

Re: November 2017 Check In Thread

I recently disputed 2 items on my credit report this month and myfico score with equifax dropped 39 points during the investigation initiation of these 2 accounts???..............   What kind of witch craft is this??

Message 13 of 23
Valued Contributor

Re: November 2017 Check In Thread


ShamarcusDickinson wrote:

I recently disputed 2 items on my credit report this month and myfico score with equifax dropped 39 points during the investigation initiation of these 2 accounts???..............   What kind of witch craft is this??


It's not witchcraft, it's normal.  If you dispute an account, it may become "inactive" on your reports, which means it doesn't count for aging purposes, or utilization management, or any of the above.

FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 14 of 23
Valued Contributor

Re: November 2017 Check In Thread

November check-in: I've decided to do more utilization testing since I have a Chase account that lets me play with utilization a bit and PIF so it re-reports a $0 balance.

 

I normally only allow one card to report either a $5 or $50 balance ($2500 limit) -- I always swap the amount on statement so I get alerts from a change in balance.

 

This month, I let TWO of my 9 credit cards report a small balance ($5 or $50 on each).  NO change in FICO, as expected.

 

I then decided to let Chase also report a 28% utilization ($144/$500) just to see what would happen.  So far only EX has updated, but NO change in FICO scoring.  3 out of 9 cards reporting -- will see what EQ/TU tell me in a day or two, I assume.

 

Next month I will let one card report 28% and then two cards at 28% and then 3 cards at 28% to see if anything is affected.  Aggregate utilization will be <8% of course.  Interested in seeing at what point do I get a ding based solely on individual multiple card utilization with aggregate under 8%.  Wish I had 3 Chase cards to really play around and not hurt my score the rest of the 30 day cycle.

FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 15 of 23
Contributor

Re: November 2017 Check In Thread

Nice! I'll be watching for your results.


Starting Score (May 2017): 584 TU
Current Scores: 760 TU, 764 EQ, 727 EX
Goal Score: 820+



Message 16 of 23
Valued Contributor

Re: November 2017 Check In Thread

Chase reported to TU and my score dropped 3 points which I kinda expect as TU penalizes using too many credit cards. According to TU I'm showing util on 3/9 cards and TU likes LESS than 1/3 (2/9 is OK, 3/8 is too many).

EQ should update tomorrow based on timing of last few months.

Also Chase is 6 statements still $500 toy limit and no auto CLI. Going to give it usage one last month and then reduce it to covering some small $5 or $10 charges monthly. I buy a monthly crate from a place that rhymes with the "Bondom" store so maybe I'll just charge that to Chase forever lol.
FICO8FICO8Visit my posts:
03/1712/17My 11 Rules to Credit RebuildingFree FICO Scores!
550EX
570TU
559EQ
710EX
701TU
734EQ
FICO alert: why did my credit score drop???
Message 17 of 23
Contributor

Re: November 2017 Check In Thread


ABCD2199 wrote:
Chase reported to TU and my score dropped 3 points which I kinda expect as TU penalizes using too many credit cards. According to TU I'm showing util on 3/9 cards and TU likes LESS than 1/3 (2/9 is OK, 3/8 is too many).

EQ should update tomorrow based on timing of last few months.

Also Chase is 6 statements still $500 toy limit and no auto CLI. Going to give it usage one last month and then reduce it to covering some small $5 or $10 charges monthly. I buy a monthly crate from a place that rhymes with the "Bondom" store so maybe I'll just charge that to Chase forever lol.

*giggles*



Starting Score (May 2017): 584 TU
Current Scores: 760 TU, 764 EQ, 727 EX
Goal Score: 820+



Message 18 of 23
Valued Contributor

Re: November 2017 Check In Thread


antoinettefisher wrote:

Hey everyone.  SO I'm new here, I just got my FICO account last week.  What I need to know is how I go about paying off debts when I owe multiple people.  I have repos, students loans, a credit card, and attorney fees that I need to pay back that are the brunt of my debt.  I was told to pay them back something a few times a month, even if it's as little as ten bucks.  How do I start?


Welcome, antoinette! Smiley Happy

 

You will definitely want to pay at least the minimum on each debt every month. Then, if you can apply more towards one of them (work out a budget first for all of your expenses), put it towards either the highest interest that is costing you the most, or the one you owe the least on. Once you get that one paid off that you are applying extra to, take what you were paying on that debt and tack it on to the minimum payment of whichever debt it benefits you to get rid of next. Keep doing this, applying it to the next debt each time you pay one off. It's called the snowball technique, and it will enable you to pay off everything strategically, and much faster than just paying the minimums on everything.

 

Current Scores------ EQ 684; TU 653; EX 688 FICO 08--- Gardening from 09/07/17 until "Winter is Over"
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 19 of 23
Established Contributor

Re: November 2017 Check In Thread

Happy to report my scores are good. 6% utilization is a little high for me, but I'm working on it. I have an iquiry dropping off this week, so I'm hoping that TU score will soar. =)

 

fico.JPG

EQ - 834 TU - 823 EX - 822
Amex NPSL Amex BCP - 25,000, Amex EDC - 12000, Diner's Club Premier -35,000, Ritz Carlton - 18000 DIscover 12,100, Chase Reserve -32,000 Total Rewards 13200, Barclay 10000, Macy's Amerx 5000, Macy's 1600, Citi Preferred 6100




Imgsrc="http://ficoforums.myfico.com/t5/image/serverpage/image-id/5761iE36E284CEECEA414" title="Palladium Garden Club Member" border="0" width="40" height="40" align="right">
Message 20 of 23