This post is going to be a snapshot of credit choices and fico result.
Background: I came to this forum 4 years ago and lurked. I pulled my fico, it was like 570. I disputed a few obsolete collections, putting score a little higher, but not much. No BKs. I read and decided I needed a financial wake up call. I took a few steps...
1. Early 2008 : Opened a credit card with Household Bank. 75 annual fee. 300 CL auto increased after a few months to 750.
2. While working at my factory I took prereqs for nursing program from local college. Had to pay college from first failed attempt in 97 first.
3. Completed RN program, now working as RN. (work and school don't alter fico, but relevant to overall fin. health.)
4. Opened Chase Amazon Rewards card. 400 limit. Still at this limit. Opened card last Nov and fill and empty it few times a month.
5. Lived with same girl for 10 years. One of these days we will get around to marriage, lol. Stable relationship. She owns home and has other real estate.
Now today's situation..
Fico 671. Dont have scores from other 2 cras, but did pull reports. All reports match.
Baddies: 1 collection, medical, Nov 2005, 288 dollars (almost 6 years old)
12 installment accounts: student loans.
Length of credit hx..14 years 8m. Oldest accounts are 2 student loans from 96 and 97.
Average age 4 years
Rev. Accounts, chase 395/400 household bank 667/720
All accounts paid on time, no lates. Only 1 round of payments on student loans so far.
I had a bad habit of not paying attention when to pay down balances. Now I will manage utilization better...
Following is post score 671, changes will take a while to report....
Recent actions: Chase 0/400 household bank 460/720 These balances are not reported yet.
Consolidated 8 of the loans. Adding 2 other into it, giving me 10 loans consolidated. Left the 2 old ones out, they have rate of 3.5 and small balances.
Planned action: household bank 60/720 this month.
1 inquiry: chase last nov.
It will be interesting to see if loans lower Fico score when they consolidate. It will also be interesting to see if a reduction of cc debt will alter score.
Goal: 700 fico and someday.... Amex cash preferred! I do all the grocery shopping and gas the car/truck. No other need for credit at this time.
Any input or tips welcome. This threads intent is for real life data on how positive changes may or may not change scores.
700 Club
Amex Gold PR, Main card, Role: rewards
Chase Amazon Visa, Role: Amex backup
Pen Fed Promise, Role: low APR, balances
Amazon Store Card, Role: 0% financing