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Took a long haitus from the forum and life went a little sideways.
My principal goals from my entire journey have been:
1) Get to a given score (700 was last year's target on EQ Beacon 5.0): 2015, winner!
2) Get mortgaged: 2015, winner!
3) Stay clean: 2015, fail.
I picked up an awkward credit card (JCB Makurai) on the premise that I could easily maintain it... well went into a post-mortgage fugue / depression / whatever it would be labeled as, and managed to get a 30 day late on TU only over a $10 fee. This was in October. Other than being angry at myself over what was a stupid, stupid, STUPID issue, it's not really going to harm me much as I have to actively try to get a lender to pull TU, I'm in a financial holding pattern till I finish school, and by that time 2ish years from now, I'll be clean on all reports with the exception of the 30 day late on TU from 2+ years ago at that point, so I'll be OK even if I have to pull the trigger on a mortgage.
2016 is simple:
1) Get my poop back in a group
2) See if I can get to 715 on a Beacon 5.0, this has been my benchmark score since I started, I'm around 693 now and when I was uber clean I got to 700 for mortgage purposes... mix of inquiries dragging me down on that score which will be gone by the end of the year, and I'll cross the 3 year AAOA mark in a couple of months. That might get me there in addition to cleaning up the 7 out of 13 cards with a balance but I'm only expecting that second part to get me to 705 or thereabouts.
Hello!
So, I'm totally, 100% new here. Just discovered the forum, so I'm not even a long-term lurker or anything like that. Ha ha! Anyhow, I'm a 21 y/o college student and mom of two who got started badly when I moved out at 16. I had bills in my name that didn't get paid because my husband lost his job, then we had our bank account go negative for so long that that got sent to collections, then hospital bills and student loans... Long story shot, we both have terrible credit. When last I checked (about a year ago) my score was 508 and his was 512 and that was through CreditKarma.
I, honestly, have no clue where to get started. My husband and I are getting a sizeable refund this year and we plan on paying off our current bills, putting some aside for moving (so first and last month's rent plus deposits), and buying myself a much-needed new graphics tablet (I work from home freelancing, so it's a business must for me). All of this is going to equal out to well over half of what we're getting, so we're not really sure how to get started. He just got a new job, I'm looking for a perm. position somewhere since my kids are now old enough for daycare, and we're moving to a less expensive place, so our financial situation is going to be signifcantly better.
What do you all suggest? Do you need a run-down of my budget and income to better suggest something?
Sorry if this is a poor place to ask this question. I'm still not really sure where to go here..
Just now getting started on the path to rebuilding my credit, so I'm excited to learn from everyone here! I had quite a few years of underemployment coupled with VERY large student loan payments (and the underemployment meant that the student loan payments didn't always happen!).
Finally back on track and excited to see the progress in my scores that will come with time. I paid off all $1500 of my credit card debt last month, so I'm excited to see the potential bump in my scores from that once it is reported!
I"m a recent college grad with very little credit history and my starting score was approx. 550 last summer. After having two delinquet medical bills due to no insurance I started taking my credit seriosuly and have since went from zero CCs to seven CCs with a CL of 7600. I have PIF every month for all the accounts except the two that have 18-24 month 0% APR offers and currently have a 4K balance on those. I've had $5K of auto repairs split evenly between routine maintenance and unexpected repairs in the past 3 months and waiting to do another $1K or so of body work due to an accident around Christmas of last year.
This year I'd like to maintain my current accounts and let the HPs start to age/fall off. I'd also like to pay down the balances and achieve a utilization <10%. My goal for this year is at least 675. However, since I don't have any real credit history I'm not sure how high I can achieve this year. I'd like to put myself in the position to buy a house and some land in the next 12-18 months and trying to put myself in the position that I can re-evalaute what I need to do when I'm due to sign a new lease in six months.
I don't know what to expect in the upcoming months but since I"ve already started getting stuff in order i'm looking forward to this journey.
Greetings All,
I am new the forum on MyFICO.com. I am in the process of rebuilding my credit as well. I have been reading many of the forums for about a month educating myself on how to get back on track and it has been very enlightening.
In December 2015 I applied for the Capital One Platinum and was approve for $300. I applied for the Capital One QuickSilver One Cash Rewards Card and was approved for $500.
I’m glad that I took the plunge to begin rebuilding my credit.
I will be taking the MyFICO Fitness Challenge as well. I look forward to learning for the community.
March 5, 2016 - EX 558 TU 561 EQ 532
@Anonymous wrote:Greetings All,
I am new the forum on MyFICO.com. I am in the process of rebuilding my credit as well. I have been reading many of the forums for about a month educating myself on how to get back on track and it has been very enlightening.
In December 2015 I applied for the Capital One Platinum and was approve for $300. I applied for the Capital One QuickSilver One Cash Rewards Card and was approved for $500.
I’m glad that I took the plunge to begin rebuilding my credit.
I will be taking the MyFICO Fitness Challenge as well. I look forward to learning for the community.
March 5, 2016 - EX 558 TU 561 EQ 532
Capitol one is really awesome in helping you rebuild after your statement cuts this month try to request a credit limit increase. More than likely they will grant it and I'm assuming you are enrolled in the credit steps programs so in 3 more months you'll get another one ~~~< just keep you utilization low and. Pay your bills on time as those are the 2 biggest percentages. Of your credit report ~~~>. GOod luck
Just starting my Credit Repair after a few years of not paying it any mind in the military. Two prior unpaid depts at six years, and one charge off four years old.
Currently debt includes the following:
cc utilization is at $6200 out of $8500 between two cards. (Just purchased a ring)
$45,000 in school loans.
I'd like to at least hit the 700-720 mark in order to purchase a home.