Regular Contributor
Posts: 136
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 (2015): EX: 748; EQ 737; TU 761
2014 Current Score: Discover FICO08 803 (1/15); EQ BE FICO 817 (1/15); PenFed FICO NextGen 799 (12/14)
Goal Score: All 775+ Available Credit: $100K+ Utilization: 10%
Gardening Since: Sept 2014