01-07-2014 09:26 PM
Hi everyone, I am a newbie. I have struggled with my credit for 10 years and mostly because I had no idea what the hell I was doing!!!! I have been too this forum many many times and have learned so much form many of you here. I have big plans this year. My bankruptcy will fall off this year and I am going to be a bit more bold and start applying for credit again, a secured credit card to begin with. I have been saving and hopefully I will raise my scores high enough to buy a home. I want a home soooo bad!!! First question... which secured card out there is there is the best to test the waters with? Good luck everyone!
Starting Score: TU 649 Current Score: , EQ-607, EX-533 Goal Score= 760+ all across the board Goal Score: 700
01-08-2014 04:27 PM
Happy New Year All!
Let me first start by saying I really enjoy these forums and they have helped me tremendously over the past 12 months. When I started rebuilding my credit it was December 2012. I had 1 secured credit card for $1,000 and a $17,500 car loan at %18.25. After 6 months of paying an incredibly high interest rate on my auto-loan, I realized it time to raise my credit score. I sold the car and dipped into savings to pay off that loan.
After 1 year of on time payments, paying off delinquent accounts, and learning about NFCU through these boards I now have:
CFE 'Platinum' CC - $2000
NFCU cashRewards card - $6000
Chase United - $2000
GE Banana Republic - $300
NFCU Autoloan < 7% - $17,000
myFico: 565, EXP and TU (based on CK and FCR.com) is 604 and 615.
My goals through 2014:
* Raise my scores to 680+
* Be approved for an Amex BCR
* Save atleast 20% of my income.
* Achieve 200% portfolio returns ($500 initial investment)
* Never miss payments
* Keep UTIL < 30%
01-09-2014 11:08 AM
Hi there everyone!
So a little about how I got to where I am, self-assessment is always the hardest part. I have made a ton of bad decisions in my life, I am lazy when it comes to bills, I have never told my wife that we couldn't do something because of money, and I've tried to keep financial problems swept well under the rug. In 2005 I was young (22) and stupid, making great money in retail management and living to my means. I got married and decided to purchase part ownership in a restaurant franchise with borrowed money, mostly from a private student loan and credit cards, when this flopped I was unemployed and suddenly realized I couldn't pay any of the extravagant bills I was used to. In 2006 I filed for bankruptcy that concluded in 2007. I used that fresh clean start to dig myself even deeper, accepting every credit card offer that came my way, forgetting to pay the bill, getting buried in fees, and eventually letting them default. I've dodged collections several times and found every possible way to mess things up even more. Today, I have a private and a federal student loans in default, the Federal being paid back to a collection agency and the private I am still hiding from like it's the monster in my closet. I have about 21 charge-off's and collections on my credit at the current time, and many many late pays on my car loans (one paid off, one paid off soon.)
That said, I've decided 2014 is the year to make a change. In November of 2013 my mother passed away, and I will be receiving a small inheritance that will allow me to pay off my last car loan and hopefully get a little breathing room in my finances. My wife and I would love to buy a house in December 2014, but it seems like a long road before that is possible. I've put together a little bit of a plan for this, but since I really don't know where to start, I'm here. I hope to pick everyone's brains, and hopefully I won't be too daft to search for the answers first.
I look forward to spending the year with everyone!
01-10-2014 12:17 PM
Hello and HAPPY NEW YEAR!!
I found this forum about a week ago after doing a Google search for "ways to raise my credit score" and it brung me here
I've read a lot and learned a lot in just a week LOL but here is a little bit about my situation.
I have had credit struggles for forever seems like.
I have 7 cards:
1.OLD NAVY VISA
Store card since 11/2/10
2.LORD AND TAYLOR
$800 transferred to orch/cap1 1/10/14(lower apr of 12.90%)
APR 0% for 24 months
5.ORCHARD BANK/CAPITOL ONE
6.CAPITOL ONE PLATINUM
PAID IN FULL: 1/9/14
my goal is to pay off all of my cards by 3/1/14 and then burn them
I also have a mortgage, car lease and 2 student loans(monthly repayments). I would like to raise my score to 750+ by the end of the year. I'm not trying to apply for anything, I would just like to have good credit in case I decide to move or need a line of credit etc... any advice or suggestions would be greatly appreciated.
my current scores are:
1/9/14 TRANSUNION 662
1/9/14 EXPERIAN 632
1/9/14 EQUIFAX 649
01-10-2014 02:12 PM
I am a new member to myFICO and I'm finally being responsible and taking care of my credit issues. In my mid 20's I took on a lot of credit and was not mature enough to pay the bills and let them default to CA out of pure negligance which has made me a terrible credit liabilty, which didn't bother me in my 20's because I was just plan dumb. For the past 6 years I've been dodging my bad credit and the issue out of repairing it out of fear and lack of knowledge on how to repair it.
Recently I've taken some time over the past year to try and right some of these issues but due to most of them going to CA it's been hard for me to resolve a lot of them. I'm hoping that this fourm will be a great place to learn about about what I need to do as well as get some guidance. At this point in my life I am ready to purchase a home and I now have the income to do so but I don't have the credit to get approved and I plan to change that.
01-10-2014 04:26 PM
Hello! I say yes it is very possible! My score was very low (580) about two years ago. I started out with a secured card from Capitol one, then was able to get 2 more unsecured cards over time. My score is now at 682! (Fico). My goal is 800 by years end.
You are on the right track!
01-11-2014 10:28 AM
<hr><img align="left" border="0" width="50" height="50" src="http://ficoforums.myfico.com/html/assets/challenge.png"><font size="2"><font size="1">Starting Score:</font> <b>665</b><br><font size="1">Current Score:</font> <b>665</b><br><font size="1">Goal Score:</font> <b>720</b></font><br><br><font size="1"><a href= http://ficoforums.myfico.com/t5/Take-the-myFICO-Fitness/Take-the-myFICO-Fitness-Challenge-2014/td-p/...target="_blank">Take the myFICO Fitness Challenge</a></font></code>
I would like to improve my score in order to purchase our first house this summer or later this year.
01-11-2014 10:44 AM - edited 01-11-2014 10:45 AM
Welcome to the Challenge! Please tell us about your current credit situation, score, baddies, etc. What is your goal score and how do you plan to get there?
We look forward to hearing more from you.
Also, recommend you copy/paste your signature HTML code onto the appropriate box under My Settings.
01-11-2014 04:57 PM
2013 was all about figuring out how to handle money like a real adult.
2014 Goals Include:
As a grad student on a "stipend" (aka this would be laughable if we called it a salary), it's sometimes hard to accomplish my financial goals. However, the support of this community and the knowledge I gained has allowed me to set reasonable, obtainable goals and I am SO thankful for that. Happy new year!
01-11-2014 07:56 PM
Hi Everyone! Happy New Year!
Just came across this today, in my quest to educate myself on how to improve my credit score, and cant think of a better way to stay motivated and learn as much as I can.
I must admit that I have never been good with money management. I have just skated by paying bills late, settling for high interest rates, and paying cash for almost everything. Over the last few years I have been blessed with a wonderful career and a great salary that goes with it! However I find myself stuck in the same patterns. But now I feel I am truly ready to get my finances in order. I have made some changes this past year as far as savings and have increased my 401k contribution. Now I am ready to work on my credit score.