Take the myFICO Fitness Challenge for 2012!

[llecs]

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@mfiedler40 wrote:

Hi all!!

Need a tremendous amount of support!!!.  I currently have over 46 inquiries on my credit report, $70,000 student loan debt (in repayment), and 100% utilization on my existing credit cards.  If you have any advice, please by all means send them my way.  I have  implemented a plan to pay $2500.00 per month on my student loans and pay in full the balances of my credit cards by June 2012. As far as the inquiries go, I have not applied for anything since April 30th, and will not apply again until May 2014.  This time I will do my research before I apply.

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Welcome to the forums!

In general, inquiries aren't as bad as you might think, plus FICO ignores them after 12 months. Definitely stop apping, though and let things age. Utilization is a big score-killer and is the fastest way to improve your FICO scores. And it sounds like you have a plan in place. For more info, check out these forums. They are a great wealth of info for all things credit.

[retroAction]

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@mfiedler40 wrote:

Hi all!!

Need a tremendous amount of support!!!.  I currently have over 46 inquiries on my credit report, $70,000 student loan debt (in repayment), and 100% utilization on my existing credit cards.  If you have any advice, please by all means send them my way.  I have  implemented a plan to pay $2500.00 per month on my student loans and pay in full the balances of my credit cards by June 2012. As far as the inquiries go, I have not applied for anything since April 30th, and will not apply again until May 2014.  This time I will do my research before I apply.

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If your dedication to applying for credit transfers to cleaning up your credit then I'm sure that you will make progress quickly!

Welcome and good luck!

[Anonymous]

I am in the below 500 club myself.

1) Stop Applying for credit

2) Pay Down credit cards

3) Pay Loans on time

that is my plan

[HuntingMama]

Hi Everyone,

Thanks for being here; your stories and advice are all an inspiration.

The short story:

Been through divorce, job loss, and medical issues. 

Current scores are from pulling my report with fico from CRA websites (05/06/2012):  EQ 586, EX 578, and TU 635  (TU was 587 via CU pull 2 months ago)

I plan to post more info on the boards, get and use advice, and improve report and scores.  My short term goal (1 to 2 years) is to qualify for a reasonable mortgage, and my long term goal is to achieve and MAINTAIN a good credit history. 

Best wishes to us all!

HuntingMama

[Anonymous]

Hi everyone.  So yeah... I am joining a little later.  (half way through the year late)  I have been working on my credit since Feb 2012 though and have browsed the boards.  I finally took the plundge and decided to join you guys and gals.

I hope my sig works down there...

My goal is to get in a position to purchase a home for me and my boys.  I have a stable job, good income, divorced but a lot of medical bills mainly on my credit.  Fun stuff huh? 

I look foward to learning things from you all.

[firsttimehomebuyer2012]

Just thought I would check in to read the latest post and see how everyone else is doing..... I need to read the forum for encouragement every once in a while.  I just started my credit cleanup in March 2012 and have seen my scored increase on average 70-80 pts. depending upon which site you're viewing.

I feel like just making timely payments and keeping my credit utilization down has played a huge factor in my score increase over the past few weeks.  Non-the-less, I wish my score would hurry and get to 620  and above. I know it's been less than 2 months, so I am going to remain pacient and keep the good credits habits that I've picked up from this forum going. I found my dream home and I really want to get pre-approved but can't even dream about going for approval until I reach 650 or Higher (my own personal goal for interest rate purposes)........ I am holding on and staying encouraged. I know It is only within an arms reach away!

I hope everyone is staying encouraged and dreaming big! Good Luck to all..... 

[mfiedler40]

Thank you!  I can't wait until payday to pay down some of this debt!

[mfiedler40]

Thank you!  I think the hardest part is trying not to apply.  I did however close one cc account that was only 6 months new.  I got rid of them because of the outrageous service fees.

[zan987]

Finally reached an 640 EQ score I needed to get a PRIME Visa CC from my CU!!     It has been a long time coming since my bankruptcy was discharged.  Nothing like a challenge to get and keep me motivated.  Next is a 680 score so I can get a good rate on an auto loan.

[-Furbz-]

Hi Everyone 

I am also starting the challenge mid year but is never too late to start working on credit. I usually pay more than the minimum on my cards and I try not to use them as much unless there is a good deal like 6 or 12 month 0% financing. I made some mistakes a few years ago that has mess my credit up, a Bank of America credit card was charged off, went to collections. I ended up paying the collection bill but it was never cleared from my reports. Will start working on that and hopefully that will increase my scores.

Cheers!