01-12-2014 09:52 AM
Hi! My name is Jon!
I screwed up my credit horribly after getting out of the service. Got some more baddies about the time the first set was about to fall off knocking my score into the 400s. Now, as an married adult with kids and about 14 years after screwing my credit up the first time, I have taken steps to improve my credit. Now there are only four baddies on my credit report and two of them are medical emergency room bills.
I will be attending graduate school in nine months, and as such, I will need to take out more loans... so I will NEED to improve my credit score by then.
01-12-2014 10:21 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>528</b><br><font size="1">Current Score:</font> <b>598</b><br><font size="1">Goal Score:</font> <b>700</b></font><br><br><font size="1"><a href="http://goo.gl/0O9JU" target="_blank">Take the myFICO Fitness Challenge</a></font></code>
01-12-2014 12:44 PM
As a newly graduated medical practitioner, I hope to be able to provide for my family after all the $$$$ and dedication. But with such crappy scores, procrastination on taking action, and being tired of hearing NO or Sorry, I am ready to take this bull by the horn and cleaning up my credit.
I currently have no liens, collections or public records, but I have several maxed/near maxed revolving accounts and an installment loan with multiple lates. Hopefully I can turn this around raise my score from a 618 (started at 549 2.5 weeks ago) to at least 700 by the mid of 2014. Here's to new beginnings
01-12-2014 01:03 PM
Back this year, with the same goal as every year: to try to take over the world!
Er, wait a second, that's not it, NARF!
Tongue-in-cheek aside, my goal is still the same as last year: get mortgage qualified; picking a number out of a hat, goal score 700 since think that's about the top I can get in my awkward bucket. Abstaining from more credit cards still, 1 year gardening anniversary tomorrow, whee!
In any event, best of luck to everyone partaking in the challenge and may it also be a most excellent year for you!
01-12-2014 01:10 PM
Starting Score 2014: 650
Goal #1, not far away: 660 (next bracket for interest rates)
Goal #2, 690
The golden goal: 700 club!
I think I might make it this year! What an amazing change since I started the challenge 2 years ago - yay for myFICO!
Other than number goals, my goal is to refinance my house this year, and finally get my ex off of the mortgage. That will be a really nice weight off my shoulders.
01-13-2014 08:54 AM
I joined the site a few months ago in an effort to get my credit improved. I have a few baddies on my credit including one significant slow pay on my student loan that became two since my one payment was paying for two loans. It happened because I had autopay and did not realize that a glitch at my bank had caused the autopay to not go through and once that happens, the Dept of Ed suspends the autopay. It took them calling me for me to realize what had happened. I paid up immediately, but the damage was done. Oh well, now working to repair that through time and no other screw ups.
I also have high credit card utilization impacting my score. I am paying down steadily and have paid off one of my cards so far as well as reducing overall utilization. I haven't seen a score increase because of it, but I know the progress can take awhile, so I have faith.
My husband and I are buying a house this year solely using his credit (he is at 710), so I am working to get my credit in good order so we can refinance together in a few years and lower the interest rate.
I will say that my journey had been a little frustrating so far. I paid off the one CC, paid down the others, paid off two student loans, and put more time between my deliquency and the present and still I saw my Experian score DROP 30 points and my EQ score drop 2 points. The only negative during that time was a hard pull by my mortgage lender. But I have faith that it just takes a little time to turn this ship around and I'll start seeing results soon.
Good luck to everyone and to a fresh financial start in the New Year!
01-13-2014 05:20 PM
I'm not new to the forums but this is the first time I finally decided to register. I have a lot of big career & financial goals for 2014 and I wanted to link up with the community to have a couple more thousand people to be accountable to
My mom had the foresight to add me as an authorized user on her credit card when I was 17 so by the time I hit 18-19, my credit score was in the very high 700s. Of course, I didn't understand the Spiderman quote "with great power comes great responsibility" so my new AmEx Gold and two other credit cards were used early and often. Before I knew it, I couldn't pay off the $6k+ that I racked up on the cards and I had numerous 30 and 60 day lates on the loan for my Lexus. (silly spoiled child)
Long story short, I turned my life around and with a loan from my parents (which I have since paid off, glory to God) I was able to rebound and set myself up on the path to financial success. I got my degree in Economics (learning about compound interest definitely was a catalyst for this change) and am now preparing to get my own place before real estate overheats again. I wouldn't have been able to get a fresh start without the financial and emotional support of my parents and close friends and I'll be forever grateful. As the Bible says, when I became a man, I put childish ways behind me. Hello 2014
My Goals for 2014:
- achieve 800 credit score (or at least 790s lol)
- buy a condo, my first home
- get back into American Express
01-13-2014 05:30 PM
01-13-2014 07:02 PM
Tackle one thing at a time, don't get overwhelmed by the picture the worst thing to do is avoiding the elephant in the room. Creditors can be aggressive but you have rights too. Stop avoiding calls, reach out on your terms. You still have some say in the situation. dont wait for wages to be garnished , I've had student loans creditors asses
my wages and my tax returns. There's nothing better than feeling a sense of relief and watching your score turnaround. Slowly but surely you will achieve your desired score.
Best to you.
01-13-2014 08:24 PM
Semi-Newbie here, I've been reading for a while, but this is my first post.
My car lease is up in July and I am looking to get approved for a $26K 48 month loan. I am shooting for a 750 FICO in hopes of a 1.99% interest rate on the loan.
July of 2011 I leased my current car (Honda Cr-Z) by myself. I brought my dad as a co-signer, but my credit was good enough then to sign for the car on my own.
The issue I am having is that I am having a hard time finding a happy balance between saving up as much cash for a down payment as possible, as opposed to using that cash to lower my debts. I need some help finding a happy balance to optimize my chances at getting the best interest rates.
I could pay all of my cards down to have a 9% overall utilization, but then I would only have 2-3K for downpayment. I'm currently on pace to have 5-6K downpayment and 15%-20% CC Utilization rate by July, which is when I plan to shop around for the best interest rates.
26 years old, AAOA OF 4.5 years.
Discover: $2590/ 9500 (new)
Amex:$700/2000 (new) (Eligible for 3xCLI in February)
Total Credit line: $19,000
usage as of this post: $4,790 = 26%
I also have about 1,200 in student loans that I pay without any problems. I actually just paid off one loan completely in January, which was exciting to do!
I have one negative blemish: 5.4 years ago I was 90 days late on the BOA card. Dumb college student thing to do!!!!!!!!!! They didn't cancel the account and it was paid in full.
Credit Karma FAKO: 767 (oddly very high)
Wish me luck!!!!!!