Hi all :-)
I have decided to take on the 2012 FItness Challenge for a couple reasons. For the past year or so I have been rebuilding my credit by clearing up collection accounts and settling with a couple lenders. At this point I have become current on all accounts and expect a few of the negative accounts to start purging off CRs. This challenge is a great fit for me because right now my new focus is to establish a few good credit lines and increase my credit score. I really need to get the score up because I am expecting to be in the market for a car around the first of the year. So I guess my immediate goals are:
1. Pay off installment loan by year end (current balance of $1500)
2. PIF CC each month to establish/maintain a good payment history with new lines of credit (Capital One Rewards 500 CL and Walmart storecard 500 CL)
3. Increase score for auto loan (aiming for 720-750 range)
Starting Score: TU: 687 (MyFico, 4/15/12), TU: 659 (WalMart 8/6/12)
Excited about the challenge and thoroughly enjoy reading about everyone's journey!
I am getting ready for my first home. Started doing some credit research and my past is haunting me. I have about 4 late pays with 3 coming of end of year (12-05). One car loan and 380 in Discover debt (14% utilization) hopefully paid off ny end of 9-12. I am hoping to get a great home loan early next year. No new apps for the last 5 years and hoping the next one is my mortgage loan! I welcome this challenge!!!
I recently finished a DMP in just under 4 years. I am now focused on paying off the one revolving account I am an AU on (I'm the only one who uses it.) My ultimate goal is to save a good amount for a mortgage down payment - I'm hoping to get there in about 2 years. And of course, I'd like the most favorable interest rate possible. In the meantime I would like to establish my own revolving credit account.
Been working to repair past credit history for quite sometime now... Have spent the last 6 years using buy here pay here lots and borrowing money using others credit... I have worked to repair mine and plan to purchase a new truck next year between march and June... A number of my bad credit accounts will hit their 7 year mark and begin disappearing... Lately I have been approved for different types of loans ranging from personal loans to an unsecured credit card... I now have 3 revolving accounts and 7 installment accounts... Everything that is open is in good standing and those in the past are trying to fall off... It is my wish as time goes by the others will fall off and I will be able to establish good patterns with my currents and reach my goal of 700...
I have decided to take the Fitness Challenge as a personal challenge to myself to get my financial health together. I am getting tired of not being able to move into the areas that I would like, because of my declining credit score. Having a roommate does not make things better, as I feel that I am the reason for why we cannot move into a nicer area that we rightfully deserve to be in. I am happy looking over everyone elses journey, and I am excited to update with the progress of my own.
Starting Score: TU 527 EQ 549
