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01-29-2015 03:14 PM
I am now involved with the FICO Fitness Challenge 2015. Hoping to reach my goals of hitting 700 on all scores, reducing utilization to less than 15% and staying in the garden while new accounts age, loan matures and overall debt gets reduced.
01-29-2015 03:14 PM
01-29-2015 03:18 PM
First time taking the challenge. I have made a lot of mistakes in the past, well recently, one big one with a scooter that i let get repossessed. Other than that the credit has been going well.
I have about 17000 in outstanding credit card debt and I want o pay off about half this year. I also wan to buy the condo I live in currrently. Fortunately, we have scaled down alot and I have over 2200 a month towards that goal. The hard part will be staying disciplined and not spending the money of garbage like video games and comic books.
I keep the board posted of my progress.
01-29-2015 03:45 PM
re: auwarrior You sound so earnest about your goals. I really wish you the best of luck and remember that goals are sometimes hard to achieve but always worth it.
01-29-2015 03:53 PM
Hi Everyone, I am new with this Fico boards, I am 55 and live in Wisconsin and retired. I hope to learn how to increase my credit scores to that magic 850. I am sure I will learn some things and hope to be able to contribute.
01-29-2015 03:54 PM
Happy 2015, All!
My Husband and I just received our Chapter 7 Discharge papers this week and used the three months waiting to start cleaning up our credit early. My lifeline throughout the process has been the Bankruptcy Board and the vast knowledge everyone has shared to make the process less intimidating.
In 2015, our first goal is to stick to our cash only budget. We are following Dave Ramsey's Financial Peace University plan and have allocated our income down to the last $5. Cash is king and really the reason we both got into trouble years ago with credit. Our focus is to build 6 months of emergency funds first.
Attacking our credit report is priority #2. We have hopes of gaining an unsecured Capital One Quicksilver card in the next nine months after burning them in our BK. We are going the credit union route and hope to open a secured card and credit builder loan in the next 60 days. At that point we will have revolving credit lines that will hopefully shoot our scores up and establish perfect payment history. Our plan is to charge all utilities to our cards every month and pay in full before the due date. The cash would be used to pay utilities directly, using this plan would build our relationship with the CC Company, show use and show payment history. The only caveat would be staying low on utilization.
Motivation is in high gear for 2015 to be a responsible fresh start and to begin walking the walk and talking the talk when it comes to using credit responsibility.
Good Luck to All!
01-29-2015 03:55 PM - edited 01-29-2015 03:58 PM
With only a little over a decade of time since I opened my first credit card, and now interested in buying a house, I'm doing some long overdue cleanup. Two currently open credit cards (10.8 years and 9.4 years respectively), just closed out an auto loan I paid off maybe too soon, waiting to see the damage or help that brings me, and hoping to see my scores raise up so I can qualify for better lending rates. Hoping within the next 12 months I can see a 720 in my scores.
On the fence on whether I'd be better off expanding with a new credit card or tradeline to thicken up my portfolio, though not sure I can afford the dramatic hit to my AAoA or the short term HP (have two from last year on the auto loan, two from this year poking around mortgage lenders).
Bank of America rewards cc: 18.5k limit
Capital One Quicksilver: 500 limit (this card is ancient, haven't used it since 2006, just put the first charge on it last week. Curious if I'll see a CLI in time)
Happy to be here and beginning my own gardening, everyone seems great and the advice I've found on these forums is wonderful. DTI is at 0% currently and I tend to carry 1-2% utilization on one of my cards, just for a little boost.
See everyone around!
01-29-2015 03:56 PM
I've decided to take the myFICO Fitness Challenge 2015!
I made a lot of bad decisions when I was younger and never cared about my credit score and didn't ever consider how it would affect everything. When I first learned about this site about 6 months ago my score was a very low 473... As of today my score is 562, still low but I'm excited to be making progress. My goal this year is a least get to a 680 if not higher. I plan to pay my bills on time, stop applying for credit, and allow the cards that I have now to grow.
I look forward to interacting with everyone
01-29-2015 04:08 PM
Well just to add, I guess I can't say exactly new, I have been hanging around the forums since 2012. I am really looking forward to being a part of the Community.
I just wish I could figure out how to add my fico scores correctly, EQ 823 TU 838 EX 821