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Established Contributor
Ravensfan2001
Posts: 566
Registered: ‎11-10-2012
0

Re: Take the FICO Fitness Challenge for 2012!

Hi, I applied for a mortgage in April 2012 to buy the house I grew up in. Of course, with scores in the 500's, I was denied. So I started my rebuilding journey. Here's what I have currently:

 

Auto loan 3/2011 - $10,500 --> $4800

Capital One secured Mastercard 5/2012 - $300

Fingerhut 7/2012 - $250 --> $650

Citibank secured loan 8/2012 - $500 --> $430

SDFCU secured Visa 10/2012 - $500

Target Red Card 11/2012 - $200

Walmart Credit Card 11/2012 - $600

JC Penney Credit Card 11/2012 - $150

 

I did apply for an additional Capital One card, Victoria's Secret, and TJX. I know I'm in an application frenzy right now, but my goal is to buy a house in 2 years and I want to get the hard inquiries out of the way before then. :smileyhappy:

 

I have 2 unpaid public records (medical), numerous collection accounts (10+) most of which are medical, and numerous inquiries. Public records fall off in 2017 and 6 collection accounts fall of by end of next summer. All my currently open accounts are paid 100% on time. I pay my cards in full each month.

 

Goal for 2013: No more credit applications. Continue to pay on time.

 

Goal for 2014: HOMEOWNER!


Starting Scores: (4/16/12 lender pull) TU 596 | EX 550 | EQ 576
Mortgage Scores:(7/24/13 lender pull) TU 663 | EX 635 | EQ 649
Current Score (11/7/14): TU 664 | EX 605 (no update) | EQ 661
Goals: 680 across the board by 3/2015. Last app 7/16/14 (auto loan)
*** Homeowner 9/27/13*** All but 2 CCs are in the sock drawer!***
New Member
slock9
Posts: 4
Registered: ‎11-10-2012
0

Re: Take the FICO Fitness Challenge for 2012!

Hi All!  New to the boards and my first stop was the garden since I have officially declared myself as a CC App Addict who seriously needs to be stopped immediately :smileyembarrassed:  I just came across the FICO Fitness Challenge and felt that this was the appropriate next stop for me :smileyhappy: ... OK, so for my financial situational run down:  ~ (1997 - 2001) I developed a horrible credit past while in undergrad...received many CCs in the mail, activated them, went on multiple shopping sprees that I couldn't afford, and racked up enough debt to drown myself...I'm sure some of you are familiar with that story; ~ (2002 - 2007) Graduated from undergrad, worked many different temp assignments and short tem contracts, ignored current debt and added a few more debts (medical bills and late payments on student loans); ~ (2007) Obtained full-time employment, matured financially, decided to take steps toward credit recovery by joining a credit union (after accepting a ridiculous APR for a new car), and consolidated all past debt into one loan (obtained from CU). ~ (2007-2012)  Paid off CU loan and car (both early), got married and became an AU on 2 of my husband's CCs, approved for home loan, and began shopping for our new home. ~ (08/12 - 11/12) Became a new homeowner on new construction, purchased a new $50,000 vehicle, and went on a CC app craze. ~ Current:  38 Accounts in Good Standing (most are student loan accounts...I'm a doctoral student, 3 installment loans (all paid in full), mortgage, current car loan, and CC accounts), 11 Potentially Negative Accounts (all collections that are closed/paid & the lates on student loans in 2006), and approx. 25+ inquiries <1yr amongst all reports, and now I am resting/growing in the garden.  Goal is to become a member of the 700 Club + clear negs. and inqs from reports. Whew...wish me luck and I wish you all the same on your journey to financial success!




STARTING SCORE: 614 (EQ) 649 (EX) 653 (TU)
CURRENT SCORE: 646 (EQ) 653 (EX) 678 (TU)
GOAL: 700+ FICO for ALL


Take the FICO Fitness Challenge

AMEX Gold (08/12) - npsl / BOA (AU - 01/07) - $4300 / Barclay Rewards (09/12) - $1000 / Chase Freedom (09/12) - $2500 / Capital One Platinum (09/12) - $1000 / Discover More (08/12) - $1000 / Jared (11/12) - $3000 / Paypal SC (01/13) - $300 / Macys (09/12) - $1500 / RHCU (10/12) - $6000 / USAA Platinum (JA - 07/08) - $1000 / NFCU CashRewards (01/13) - $10,000 / NFCU nRewards (01/13) - $9000
New Member
truevolution
Posts: 1
Registered: ‎02-18-2009
0

Re: Take the FICO Fitness Challenge for 2012!

[ Edited ]

This is my first time doing the Fitness Challenge and I am excited & ready to get started !

 

My current situation:

Discharged Bankruptcy October 2012 so I am currently in rebuilding mode.

I currently have 3 CC's thanks to lurking on this forum.

I have student loans, currently in forbearance.

 

My goals:

To save for a new house

To get a decent auto loan interest rate

To live within my budget 

 

I plan to achieve these goals by paying my bills ontime, managing credit better & I hope my wisdom, past experiences help me on my journey.


Starting Score: 544 (EQ) 527 (TU)
Current Score: 544 (EQ) 527 (TU)
Goal Score: 700+ ALL


Senior Contributor
lg8302ch
Posts: 3,049
Registered: ‎11-13-2012
0

Re: Take the FICO Fitness Challenge for 2012!

[ Edited ]

Hi to everybody  :smileyhappy:

 

This is a nice idea this Fitness Challenge and I hope it will go on in 2013.  Why?

 

Because I would love to participate too. Since 1986 I live out of the country and never bothered to check my credit scores. So I had no clue what my credit scores were in the US for so many years. 

 

About 6 months ago I started to get pre-screened offers from credit card companies  which made me a bit wonder and I started to investigate.. On a free trial I did get some scores which came up with the same result as the free app from CreditKarma. (Scores from about a week ago)

Here is what I got TU 761, EQ 759, EX 752 - a few days ago I just lost 4 points for a hard pull from a pre-screened offer from Discover.   I always thought that pre-screened offers would not hurt the score but I guess it does when you try to accept their offer. Discover only pulled EQ and this is on  the free trial the only one that shows on the payment history  from my credit cards  N/A (not available) the other TU and EX  show 100%. with an A+ Grade for my payment history. So no wonder Discover declined but how in the world did they select me in their pre-screening?

 

So my goal is to try to get  800+ scores  on all ! This  is my Fitness Challenge  for 2013 ! Well I know quite unrealistic as out of country resident but why not give it a try. It is always good to have a Fitness goal

 

Edit:

Due to the decline of Discover for their pre-screened offer and  the hard pull on my account I took the chance for the free report from Equifax and got all 3 scores for 50% and what a surprise - other than TU which was 765 also on the free Credit Karma app both Experian and Equifax popped up 20 points higher and got me both 772. My Fico had lower scores see above - Why is that? 

FICO® EQ 791 (as of today) - TU 778 (11/28) * Fako EX 811 (12/02 - CS) * last app 12/16/14 * INQ last 2 yrs TU: 4, EX: 5, EQ: 3


Move the mouse over the cards for detailed view!..................................................................* Seedling Garden Club member *
New Member
cyn-lee123
Posts: 4
Registered: ‎11-04-2012
0

Re: Take the FICO Fitness Challenge for 2012!

Hi, I am new to the Fisco Fitness Challenge also. I have been disgusted ever since I found out my credit score of 570 as of August 2012. I would have never known it, until I went to purchase a car. I have had credit for 22yrs, and has more than likely been up and down the score scale in the last 10 yrs. Where I am at today is that I have waged an all out WAR on my credit report and score. I am 52 yrs old with nothing, and that is not a good feeling at this time. I have had the opportunity to clean my credit report clear of all information and debts that I have held on my report. Since I have not had credit in so many years, I had too start over. So I have invested in ONE Secured credit card, and that's it. My score has rised gradually as I have continued to pay off any old debts. I have went from having a 570 to 668 as of Oct. 19,2012. But guess what, when one of my old accounts was corrected and closed on 10/20 ( the next day), my scores dropped from 668 to 625. Then a couple days later because of a late payment ( spent the money on Hurricane Sandy supplies) my score dropped to a 609. But since all of that activity has occurred, it's on the rise again, it's back up to 618, and HOPEFULLY climbing. My goal is to reach 700, so that I can purchase a car, before the winter weather really set in. So please if anyone have any advice for Me, please share it. I am not gonna give up on this roller coaster credit ride, it starting to be challenging, and motivating for Me at this time. I feel like this is an uphill Mountain I am climbing, and no matter how many rest stops, and detours I take, I am gonna reach the top, because this is where my GOAL is standing at, waiting on MY ARRIVAl. DOn't never  Give up or Give in, Hold on, No Matter What.

Fired up!!!
New Member
cyn-lee123
Posts: 4
Registered: ‎11-04-2012
0

Re: Take the FICO Fitness Challenge for 2012!

Congrats, that's what I am talking about! How did you do it, PLEASE share some tips/advice. I really need a car BAD. Thanks.

Fired up!!!
Contributor
fairclok
Posts: 79
Registered: ‎10-03-2012
0

Re: Take the FICO Fitness Challenge for 2012!

[ Edited ]

fairclok wrote:

Hi Barry and Everyone,

 

First time joining this forum.   Seems very interesting and provides a lot of support and feedback.      I'm looking forward to sharing my challenge with you guys.

 

My current situation.

 

Experian - 630

Equifax - 603

Transuntion - 630

 

Short term goal - 660  (maybe 6 months?    is this possible?)

Long Term goal - 700+ (maybe withing 2 years?  is this possible?)

 

Up until 2009  I was young and very lazy with paying bills, etc.   I didn't understand the importance of credit.      In January of 2009, I payed off all my debt that was on my credit report as deliquent, etc.    

 

I kept my auto loan (which is now paid off and was never late on payments 1995-2010)

I kept my school loan, which has $10,000 left - make payments of $200 per month

I have had no credit cards, etc in the past 3 years.   I wanted to get used to living on a budget and pay my bills in real time.        

The accounts that I paid in full in 2009 are still on my credit report as closed, but listed as potentially negative, which i'm know will be there for a minimum of 7 years. 

 

NOW:

Its now time for me to build my credit.    

I opened a $300 credit card with Orchard Bank.   Have had it for 6 months.    Always pay on time and keep the amount I spend to around $100.    

I also have my shcool loan ($10,000), which has been current since Jan 2009.      Prior to that I was only late twice from Jan 07-Jan 09.    

Otherwise i have no other debt.  

 

I could really use some advice on how to build my credit in a responisble way.

 

 Goals:

Short term goal - 660  (maybe 6 months?    is this possible?)

Long Term goal - 700+ (maybe withing 2 years?  is this possible?)

 

 

Thanks in advance for your help.  

 

Keith   


 

Good news.   I was approved for my Capital One Secured Card today.      

 

The letter says minimum deposit of $49.    Does that mean what I was approved for?   Or can I deposit more?  

 

I'm looking forward to using it responsibly and watch my credit score increase even more.      I''m at 655 Equifax today.  

 

Going to pull all three reports before I make the deposit and then pull them again after and see what the impact was on all 3 scores.   I will post when I find out.

 

 

 


Starting Score: Sept. 2012 EX FAKO 601; EQ FICO 603; TU FICO 607
Current Score: Feb 2014 EX FICO 749; EQ FICO 744; TU FICO 763
Goal Score: 760 on all 3


Take the FICO Fitness Challenge

Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Take the FICO Fitness Challenge for 2012!

[ Edited ]

Hi fairclok,

 

I have the secured Capital One as well. They start with a $200 limit. You decided how much you want your credit limited to be, base on security deposit up to $3000. I got the card in June 2012. My credit limit is $1000 and with the unsecured version with limit of $500. My credit has dramatically increase. Just stick to keeping utilization under  9%. Personally I do 7% because FICO states high achievers average 7% utilization. 

 

Best wishes to you on your journey.

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Contributor
fairclok
Posts: 79
Registered: ‎10-03-2012
0

Re: Take the FICO Fitness Challenge for 2012!


priceless07 wrote:

Hi fairclok,

 

I have the secured Capital One as well. They start with a $200 limit. You decided how much you want your credit limited to be, base on security deposit up to $3000. I got the card in June 2012. My credit limit is $1000 and with the unsecured version with limit of $500. My credit has dramatically increase. Just stick to keeping utilization under  9%. Personally I do 7% because FICO states high achievers average 7% utilization. 

 

Best wishes to you on your journey.


Thanks for the information priceless07.     I'm looking forward to seeing the impact on my score by managing the card appropriately.    Utilization rates.   On time payments, etc.   

 

Good luck in your journey as well.

 

 


Starting Score: Sept. 2012 EX FAKO 601; EQ FICO 603; TU FICO 607
Current Score: Feb 2014 EX FICO 749; EQ FICO 744; TU FICO 763
Goal Score: 760 on all 3


Take the FICO Fitness Challenge

Valued Member
JGeuy
Posts: 37
Registered: ‎08-03-2010
0

Re: Take the FICO Fitness Challenge for 2012!

:smileyhappy: I will aim for 7% as well, good advice! I read recently on an article regarding people whose scores are 800 and above that one of the people makes payments on his cards more than once a month, which keeps the balance percentage lower, ensures that payments are always on time, and also helps to pay more than the minimum every month. I have started to do this as well and am going to now go to my cards and calculate that 7% and formulate the amount on each that I need to pay off.



Original Starting Score:553
Current Score: TU 658 EQ 658 EX 632
Goal Score: 700
PLAN TO GARDEN FOR ALL OF 2013 !

Take the FICO Fitness Challenge

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