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Take the myFICO Fitness Challenge 2014!

New Visitor

Re: Take the myFICO Fitness Challenge 2014!

My goals this year is to simply start over, I would love to increase my credit score, lower my mortgage rate, really start saving, buy a new car and last but not least get married

Starting Over in 2014
CS 644
GS 690-720
Message 51 of 488
New Contributor

Re: Take the myFICO Fitness Challenge 2014!

My goals for 2014 are to get my EX score up to 700, optimally 720 (it's never been higher than 690) EQ to 800 (it's highest 769) TU to 810 (it's highest 777).
Goals to do this: Utilization 4-7%,
Keep: No late payments or derogatories (get that 1 stuborn, paid Midland one off my EX report )
This is the hard one: No new accts. Wait until I have 0 inquiries & my account (optimum 8 yrs?) history is longer. Currently it is average between 1.37 & plus 3 with my longest account being between 2.83 & plus 3. I think that means it will be ( I did do the math but•••) something like 6 more years until I'm where the credit information sites say is an A. I guesse that will be what will be in my credit garden plus studying how to get the limits of my current cards up,up,up! Oh, & paying $600/mo instead of the required $100 on my $3000 loan which will help my mix. Then I'm trying to decide whether to take out a secured credit builder loan ( which is actually putting the "payments " into CD's or putting $50 a wk in Mango Money at 6% until I reach the $8000 limit, which will also give me a good start at my emergency fund.
The no new credit cards is hard because I don't have a Citicard or BOA & it gets adictive.
If anyone who might read this has any advice, I'd love to hear it. Thanks!
Message 52 of 488
New Member

Re: Take the myFICO Fitness Challenge 2014!

Hi All, Newbie here, I messed up my credit pretty bad about 6 years ago when I was laid off and it was also around the same time that I was getting married and having our first child..so it was a rough time. Anyways, fast forward about 5 years and I landed my ideal job and have almost double my salary in 3 years so for the last 1.5 years I have been working on rebuilding my credit. I had several collection accounts and 4 judgements on my credit and over the last year I have paid 3 of the judgements off and only have 1 more collection account showing on my reports but will have it taken care of in March along with paying off my last judgement. In addition to paying off that last judgement and collection, my goal this year is to continue to raise my credit score to 700+ and to get approved for an FHA loan in the spring of 2015...we are tired of renting. On top of buying a home next year and raising my credit score we are also expecting our second child in May. I look forward to learning as much as possible from this forum and to creating and mainting a healthy credit life.

Starting Score: 572
Current Score: EX 723, EQ 618, TU 688
Goal Score: Median 720
Message 53 of 488
New Contributor

Re: Take the myFICO Fitness Challenge 2014!

Hi everyone,

 

Currently, my wife and I have $18k in credit card debt, around $8k in medical bills and about $6k in other bills that we would like to pay off. While the interest rates aren’t significantly high on any of our debts, we would like to end 2014 with $25k in savings, no credit card debt and four months worth of bills paid ahead through the slow winter season. Since I’m a salesman, November to February is my slow season so preparing for this time is extremely crucial.

Ex 675 Eq 675 Tu 690
Goals 750 across the board
Message 54 of 488
New Visitor

Re: Take the myFICO Fitness Challenge 2014!

Hello! 

My goal for this year is to try and get my credit up to 650 this year and within the next two years I would like to try and get my credit up to 750 and then eventually over 800.

I made some really reckless choices with my credit in 2007 when I was just out of high school and never really understood the effect that my actions had in the long term for my credit. So I suppose, I am here to try and learn about how to improve my credit and become more fiscally responsible.


Starting Score: ex. 592, eq. 608, tu. 612
Current Score: ex. 592, eq. 608, tu. 612
Goal Score: 650


Take the myFICO Fitness Challenge
Message 55 of 488
Super Contributor

Re: Take the myFICO Fitness Challenge 2014!


cbem wrote:

Hello! 

My goal for this year is to try and get my credit up to 650 this year and within the next two years I would like to try and get my credit up to 750 and then eventually over 800.

I made some really reckless choices with my credit in 2007 when I was just out of high school and never really understood the effect that my actions had in the long term for my credit. So I suppose, I am here to try and learn about how to improve my credit and become more fiscally responsible.


Welcome to the forum 

Great goals 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 56 of 488
New Visitor

Re: Take the myFICO Fitness Challenge 2014!

Hello all. I am wanting this challenge so that i can improve my credit score. I never truly understood until now how important this can be to save money. I also would like to purchase a home with a good interest rate. And so the journey begins!!-Melanie

Message 57 of 488
Established Member

Re: Take the myFICO Fitness Challenge 2014!

I am attempting to purchase a home and I'm told I need at least a 620 to qualify for a particular program so I don't have to pay 3.5% down payment. I was wondering if Equifax is always the middle score or could it be any of the credit bureau? My current equifax score is 615(myfico), transunion 649(according to myfico) and 690(identity gurard).


Starting Score: 587
Current Score: 640
Goal Score: 650


Take the myFICO Fitness Challenge
Message 58 of 488
Member

Re: Take the myFICO Fitness Challenge 2014!

I'm gonna start 2014 off on the right foot!  Got big plans for getting these scores up Smiley Happy


Starting Score: Jan 2014: TU 620 | EQ 565 | EX 620

Current Score: Feb 2014: TU 609 EQ 596 EX 689
Goal Score: All 800+ December 2016


Take the myFICO Fitness Challenge

Message 59 of 488
New Member

Re: Take the myFICO Fitness Challenge 2014!

Hello all. I'm taking the challenge because I've decided this year is the year I take control of my credit. I had the wrong idea about credit and messed up early on. Just as I started to clean up my credit profile, I was involved in an accident that ultimately (and unfortunately) led to my bankruptcy. This year my goal is to stay on top of my credit, learn more about what improves/hurts it, and to map out a way to (finally) improve my score. I've never experienced a CLI - that's also on my to do list. Smiley Wink


Starting Score: 544
Current Score: 564
Goal Score: 700


Take the myFICO Fitness Challenge
Message 60 of 488