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Regular Contributor
DesertLife
Posts: 134
Registered: ‎07-09-2012

Re: Take the myFICO Fitness Challenge for 2013!


Jeffg099 wrote:

Hi everyone,

 

New to the boards! I was re-directed here by a google search I did for "IRRRL Refinancing". My credit scores have been stalement for about a year. They don't go up nor down. I don't know what the issue is there. I guess I need to use my credit cards more often. I just use and carry a small balance on one, my USAA CC. I have a limit of 20k, but only carry 2.5k at the most all the time. In total, I have about 9 CC's from every major issuer; Mastercard, Visa, Discover, AMEX.

 

Any thoughts or suggestions on how to get my score moving again would be greatly appreciated!

 

 

 

2013 Goals

 

  • Increase FICO to 775+ by year's end.
  • Refinance current home through IRRRL to atleast a 3.5% from a 4.5%.
  • Save on refinance and add to my Emergency Fund by atleast 3 - 5K by year's end.
  • Start using my CC's more often.. (responsibly!)

 

 


Welcome Jeff,

 

I'm glad you found the VA IRRRL refinance forum that I recently posted about my current situation. Right now, in my opinion, is certainly the time to refi if you can, because I think despite all the things still happening, the interest rates are bound to go up (they can't go much down from here)!

 

We are using our credit cards responsibly and actually making money for spending what we're already spending through the rewards points for signing up for them, and through the cash back method. The card companies need people who are paying off their bill each month to keep cash flow in their system which is part of what makes it work for those who are paying interest on their purchases each month.

 

I've been paying attention to Dave Ramsey's baby steps (1) $1k emergency fund (2) Pay off all debt (3) build 3-6 months emergency fund (4) 15% invested in IRA / pre-tax retirement (5) save for college (6) pay off home early

 

My savings will be reduced to refinance. Instead of putting our savings from a reduced monthly mortgage payment, we will continue paying what we are paying now.

 

For the 2013 myFico Fitness Challenge, I hope to achieve my 755 goal.


Starting Score: EX: 717; EQ 723; TU 732
2014 Current Score: EX 748 (4/14); EQ 737 (4/14); TU 761 (5/14)
Goal Score: All 750+
Available Credit: $100K+
Gardening Since: April 17 2014
Regular Contributor
loviedovie
Posts: 205
Registered: ‎12-20-2012

Re: Take the myFICO Fitness Challenge for 2013!

I am new to the boards and excited about this challenge! Learning so much here. 

 

2013 Goals:

 

  • Apply for first prime card to boost my thin file- starting with Citi, my bank of 12 years. 
  • If successful apply for second card
  • Refi auto loan to lower interest
  • Macy's CLI
  • FICO of 680 by year end
  • ***Help other people in my life with all of the information I have learned here!!! (Already I helped one friend pull her student loans out of default and get a GW delete and that felt so great to do for somone! How lucky are the people who get to do this as their job?)

Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740
Valued Member
bornhuge
Posts: 27
Registered: ‎12-20-2011

Re: Take the myFICO Fitness Challenge for 2013!

In 2012 I got a CLI on a previously secured credit card.  Card is no longer secured.  I had a decent increase in my TU and EQ scores.  I paid off a little more than $52,000.00 of student loans.

 

In 2013 I want to pay the remaining 28k I have in student loans and see my score go into the 740's.  Would like another CLI on my card as well.  Will update if anything good (or bad) happens. 

 

Best of luck to everybody else!

Starting Scores: TU-666 on 10/29/11. EQ-701 on 12/29/11
Current Scores: TU-753 on 7/27/13. EQ-761 on 11/1/13
Administrator Emeritus
Sarah
Posts: 599
Registered: ‎03-26-2012

Re: Take the myFICO Fitness Challenge for 2013!

Great goals so far, everyone! Keep 'em coming!

 

And be sure to update your Fitness Challenge signature so it directs to the current 2013 Challenge :smileyhappy:

L90
New Member
L90
Posts: 1
Registered: ‎12-28-2012

Re: Take the myFICO Fitness Challenge for 2013!

In an effort to improve my scores, I found these forums a week or so ago, so I am a newbie.  I've been reading up and have learned much so far. 

 

Goals for 2013:

  • Send out GW and PFD letters to all negative items (I have multiple medical collections on my CRs)
  • Pay down credit cards (3 all maxed out right now)
  • If I can get my score about 650 I need to refinance my mortgage.

Due to a terrible financial struggle, I let many medical bills slide in an effort to keep everything else afloat.  We had to refinance our mortgage in 2011, but our scores were awful and we had no choice but to go with a 3-yr balloon.  So - that needs to be refinanced just as soon as the scores move up.

 

The suggestions I read on these forums are great.  I plan to put some of the things I have learned into action this month!

 

Best of luck to all!

 


Starting Score: EX 573 EQ 489 TU 521 (7/12/11 all Lender Pulled)
Current Score: Unknown
Goal Score: 725


Take the myFICO Fitness Challenge
Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Take the myFICO Fitness Challenge for 2013!


Jutz wrote:

2012 Wrap Up

  • Bottomed out at 525 EQ FICO in May
  • Paid off all CC debt and three open collections
  • Had three collections removed
  • Brought EQ FICO to 645, EQ TU to 676
  • Opened 1 new card, Walmart store card
  • Only left the garden once in 2012

2013 Goals

  • Auto loan (Could be as early as this weekend)
  • AMEX Member
  • Add 3 total cards: AMEX BCE, Discover IT, DCU Visa
  • Hit the 5 figure mark in credit card limits, including 5k on one card
  • 700 club on 2 out of 3 bureaus

Figurd I'd update my original, since it's already changed a bit.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
New Member
juliannas
Posts: 3
Registered: ‎01-03-2013

Re: Take the myFICO Fitness Challenge for 2013!

[ Edited ]

Happy New Year everyone.  After many years of ignoring my credit score, I recently checked it and was mortified to see that my score was 503!! I had late payments here and there but always caught up with them. I was laid off for a while and also had a couple collections after graduating from school while I was still looking for a job. Anyway, this year is a new beginning and I am working on paying close attention and becoming much more responsible for my bills. I will also contact some of the creditors and see what I can do to remove some of the negative info from my account.  Wish me luck!!!

 

Goals:

1. Pay off all credit cards by April

2. Dispute negatives on credit report

3. Save $10,000

4. Take 18 credits for grad school

 


Starting Score: 503
Current Score: 609
Goal Score: 700


Take the myFICO Fitness Challenge
New Member
Barney007
Posts: 4
Registered: ‎01-03-2013

Re: Take the myFICO Fitness Challenge for 2013!

Happy New Year!!

 

My goals for 2013 are to:

Completely pay off my credit card debt

Pay off two personal loans

Save $5,000 towards downpayment for a house

 

For the next two months i'm going to focus on reducing the balance on each of my **7 **cards by $100 or more to start reducing my credit utilization.

I'm EXCITED about getting out of debt this year!!!

 




Starting Score: EQ 684, TU 655, EX 671
Current Score: EQ 684, TU 680, EX 671
Goal Score: 725 - 750 for all three


Take the myFICO Fitness Challenge
New Member
Barney007
Posts: 4
Registered: ‎01-03-2013

Re: Take the myFICO Fitness Challenge for 2013!

Okay what is the 'gardening' thing I keep reading about in posts? :heart:




Starting Score: EQ 684, TU 655, EX 671
Current Score: EQ 684, TU 680, EX 671
Goal Score: 725 - 750 for all three


Take the myFICO Fitness Challenge
Administrator Emeritus
Sarah
Posts: 599
Registered: ‎03-26-2012

Re: Take the myFICO Fitness Challenge for 2013!


Barney007 wrote:

Okay what is the 'gardening' thing I keep reading about in posts? :heart:


Hi Barney, good question! Here's a summary + an introduction to the myFICO Garden Club, which is tended by one of our swell moderators, tinuviel:

 

Garden Club Meeting - December 2012


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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