Im in the Garden now after applying and getting many cards to rebuild credit with. Got a few personal loans as well to have the diversity in credit profile. I have came a long ways already and i am working to get my scores all over 735 at least to get ready and purchase a new home in 2014. Thanks to this Forum i have already pushed my scores up from the 620s to over the 690s. All but there.. Just working on credit limit increases with no hard pulls and letting the accounts age.
This is my first time taking the myFICO Fitness Challenge. I realize I am a bit late to the challenge this year, but better late than never. My financial history has been rough over the years. Get it cleaned up, messing it up, cleaning it up seven years later, messing it up again. At one point, I was a credit card junkie; applying and getting new credit was the high I was after, and that's how I eventually got into trouble each time.
This time, however, I am on the wagon for good. After an 11 year un(der)employment stint, I have had a good flow of income due to a reasonably stable work situation for the last four years. Unfortunately, my wife does not have the financial control and discipline that I have now (finally) developed. I spent all of 2012 paying off $80k in credit card debt, and am working hard to ensure that we don't get there again through a program of very strict and stringent home budgeting, monthly savings contributions, and daily credit-card management (I log in to each website and look for charges) on both my cards and my wife's cards. We are, to this day, at zero balance on all cards, which I am particularly proud of.
Back in early 2012, my FICO score was in the low 620s. As of September of this year, I managed to bring it up to 743, and in just the last month, I have continued to improve it to 760. My current goal FICO score is 800, but I realize that getting from 760 to 800 will be a lot more challenging than getting from 743 to 760 (besides just the simple numerical difference). It will be a matter of time more than anything for some of the red marks of my credit past to fall off my record.
My plan to get me to my goal score is one of continued financial vigilence combined with a good dose of pragmatism and reality. Essentially I think I just need to stay the course I am currently on:
Hopefully, these actions will at least keep my FICO score rising, albeit slowly, over time. Slow and steady wins the race, after all. I wish all of you the same good fortune I wish myself in this challenge.
How do you join the garden? I have not applied for anything since July 2013, trying to go as long as I can.
Hello fellow Buckeye dweller
I have been working on my credit file since February 2012. Finally, I have gotten all derogatory items removed from all three bureaus. However, I am having a problem with the utilization because it is very high. I have personally had to guarantee and purchase things for my new business, which has me spread out to the max. Even with that said, I have had some success lately with credit.
I applied for a Skymiles American Express, and I was approved for $1,000. I was a little disappointed with the amount, but ecstatic for getting my FIRST American Express.
I applied for a Gold American Express, and I was denied because of too many inquires, utilization, and new credit.
I applied for a Macy's card, and I was approved for $600.00, I asked about the low limit, and the rep responded Experian suggested amount. She told me to apply for a cli around Christmas time. I had a charge-off with Macy's of $337, so I paid it off, and Macy's approved me for a new account.
Currently, my challenges are too many inquires and too new credit. I am about to go into the Garden until May 2014, when it is time for me to apply for another student loan.
Payoff small student loan $3402.00
Pay down credit cards totaling 10,000.00
Never paid my scores any mind until I tried to get a travel trailer back in July and had a whopping 630. So I joined CK in July, Equifax in September and I think I joined myFico at the beggining of October. I have to go back and look. I never understood how credit ratings work. I do now thanks to everyone here. I now get bummed out if I dont get at least an hour a day on the forums LOL.
My goal was to hit 700 by November 2013. Not sure if I am going to make it. I have increased CC CLI's to 28,900 and that will push utilization to approximately 6 %. Just need to the new cards to report! I have learned that I can transfer balances to the 0% APR cards and use the 0% APR cards for purchases.
Joined a credit union NFCU and will be joining First Flight FCU Monday.
By December, I want to refinance my car, currently at 10%. I can get 4.5 now but need a few more points to get it lower.
Refinance two sub prime loans at 26 and 16% to 9% or lower ( unsecured )
Move all banking from Wells Fargo to First Flight FCU by December.
Wife is disabled with Systemic Lupus, my daughter had her first child 4 months ago, my son is 15 and a sophmore.
My cat ( Tiger ) thinks she is a dog ( she likes steak ) My wifes chihuahua or however you spell it is named Oscar. We pick on him and say OSCAAAAA, get to the chopppaaaaa. The cat outweighs him by 10 lbs and he does not mess with her at all. But his little man complex compels him to try and bully dogs that out weigh him by 50lbs....
Current Debt to income is 21%
By next summer, 2014, I want to get into the mid to upper 700's..........
I sprinted the first 45 days of working on this and now have my marathon shorts and shoes on... ( dont let the bright legs blind ya ! )
Happy New Year to the myFICO Forums Community!
Can you believe we’re entering our fourth year of the myFICO Fitness Challenge? If you have financial goals for the New Year, the myFICO Fitness Challenge is the place for you!
What’s the myFICO Fitness Challenge?
To take part in the myFICO Fitness Challenge, simply post an introductory note, and state your financial goals for the coming year. Are you hoping to raise your FICO Score? Buy your first home? A new car? Get that coveted rewards card? Tell us about what you hope to achieve, and what reaching those financial goals will mean to you. As the year progresses, check back here to report on your progress, talk about hurdles you encounter, or simply reach out for support and encouragement from your fellow Fitness Challengers.
New this year!
To help you stay on track, we're introducing monthly check-ins for 2013. On the first day of each month, myFICO will post a monthly check-in thread for you to talk about your progress, successes, speedbumps, etc. Participation in these monthly check-ins is optional - but encouraged!
First time Challenger?
If you’re new to the myFICO Fitness Challenge, then welcome! To begin, set up your official myFICO Fitness Challenge logo signature on your Profile page (Go to My Settings=>Personal Profile=>Personal Information). Then just reply to this topic, telling us a little about your financial situation, your goals, and how you plan to achieve them during the coming year.
Here’s to ALL of us achieving our financial goals in 2013!
How do you update your signature???
I don't even see any options except changing login name, pass word etc and that is from the profile link on your account page.
Looking back on the last few months, my life seems like one long obstacle race, with progress very slow but in the right direction.
I am new to this board and the page.
I just pulled my credit report for the first time in years.
I am not happy with my score but I am willing to work to improve it.
My goal is to get to 850. If I can get in the 800's I'll be happy.
I am new to this board, as well (but have lurked for awhile now). I just pulled my EQ score and was pretty happy with the current score of 800. My question: How close is the Equifax FICO score pulled here to the FICO score that a home lender would pull? My goal is the very top at 850, but I'm unsure of what timeline I should give it. I'll initially say that my goal will be to achieve 805 by end of Novembet, 817 or higher within 6 months, and then 835 by this time next year. Hopefully that's realistic!