01-07-2013 07:01 PM - edited 01-14-2013 12:42 PM
Happy new year. 2012 was a great year I paid off 2 of my 3 credit cards and paid off my car loan of $9,800 in 11 months. 2013 financial goals is to raise my credit score, buy a houses and increase my saving account by 5k.
Starting Score: 677
Current Score: 677
Goal Score: 750
Take the myFICO Fitness Challenge
01-07-2013 07:32 PM
This will be my first fitness challenge. The last 5 years have been tough, but 2012 was a good year. My foreclosure fell off in 2012, and my last collection finally came off. The only 2 baddies I have are an equity loan from 2004 that should come off in May...and 3, 30 day lates from GMAC in 2006.
In 2012 I got a car loan for 26k @ 3.19%, a Discover card with a 2k limit, Amazon store card with a 1400, Barclay card with 1800, and an Amex gold. I PIF each month on all cards and have 0 cc debt....WooHoo!
My goals for 2013:
No new apps
Get Discover up to 5k or better
Get Amazon up to 5k or better
Get Barclay up to 5k or better
(all the above with soft pulls hopefully)
Change Amex gold to Costco Amex with at least a 5k limit
Get rid of my secured Orchard Bank card with $1800 without messing my score up...it's my oldest account
Decide if I should close a cap one acct with a 1500 limit that will probably never increase
Get my score to 750
Maintain 0 cc debt...with the occasional small balance reporting...probably on Discover..or maybe a large interest free purchase on amazon
Save, save, save to put 30k down on a house in 2014 so I don't have to get an FHA loan
This challenge is great..and I'm looking forward to see how well I can do.
Good luck to everyone in 2013!
01-07-2013 07:42 PM - edited 01-07-2013 07:53 PM
Well, this is my first time posting. I'm turning 47 this month and looking to getting my credit score in line with my mental attitude. I am also working to get my FICO score up to the 725 mark as well. Just above 700ish now and want to make that quantum leap forward.
No new credit apps for 2013. And to retire my current revolving deby by the end of the year and have my student loands reduced by 50%.
Sorry if the challenge logo isn't showing up well, not sreally sure how to create the signature logo in the preferences.
01-07-2013 08:35 PM
01-07-2013 09:06 PM - edited 01-07-2013 09:08 PM
My husband and I are working to get our credit up to buy a new home for our family! We have had many difficult times and we want to turn our lives around for our future! We recently signed up for mint.com in order to help with our budgeting and linking our savings account to the house goal. It will also help us stay on track to know where we are headed.
My score is at 652
Husbands score 524
By cutting out unnecessary items and less on entertainment we hope to achieve our goals by the end of this year!
01-07-2013 09:23 PM
I was laid off in 2011 from a great corporate job. I was 8 months pregnant and not exactly employable. I did some temp work in 2011 and found a decent job in 2012. I was still making $20k/yr less than previously and I fell behind on my mortgage etc. I am starting to get back up on my feet and also have a great prospective job for which I am doing a second round of interviews this week. My goal, either way, is to be debt free, except for my mortage, by 2014.
01-07-2013 09:31 PM
I am new to credit growth quest, although I have been reading for sometime. My synopsis:
FICO: 610 (MyFICO), 619 (lender pull)
Highest CL $ 2700 (Dell)
Util: 50-75 % all cards have low limits
I realize that I am going to have to take a hit on my credit score before starting the gardening period. I need a new car to so I have to accumulate the inquires on top of the inquires from my 2012 app spree.
Increase FICO to 675 (my heart is set on 700)
Decrease Util to 15-25% across the board
Obtain a CLI on some current TL
Re-open IRA, and Save $ 3000
Remove most if not all baddies from my CR.
***Try to get chase to re-establish my credit card after paying of the balance on a closed account***
High hopes wish me luck!
01-07-2013 09:32 PM - edited 01-07-2013 10:05 PM
This will be a very interesting challenge for me becasue I have never tried to increase my FICO Score.
My credit isn't the best, however, I plan to change that as a member of the FICO Fitness Challenge for 2013. I feel this will be a fantastic year for me, i.e. I will be able to use my increased FICO Score to buy the condo we have been looking at.
I look forward to the challenge as it will only impact my score in a positive direction. This forum will give me the assistance and support I will need to reach my FICO Score goal.
01-07-2013 09:37 PM
Im taking the challenge to improve my credit score and purchase a new car. Ive been working on my credit for the past 4 months. My current score is 541 with hopes of getting it into the mid 600's. Ive gotten old accounts removed now Im getting my utilization down to under 30%. If anyone has any suggestions to help me with my goals please share. Thanks!
01-07-2013 10:00 PM
i dont know how to get the logo but here goes. I've got a great score but I want to buy a house in the next few years and with no kids I should have a much better score. My main goal is to pay off debt so I can have more spending/saving cash. This will also raise my credit score to get me the better rates I want. Good luck to all!
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