Frequent Contributor
Posts: 404
Registered: ‎04-02-2012
Re: She's beautiful
[ Edited ]

beautybrainsbooty wrote:

Razeus!  this is fantastic info Smiley Happy  It would seem like common sense but really when I was in my 20s i blazed through credit without a care in the world. Running up limits, taking on cards just because I could, and it was SO easy back then. I remember my first citi card for students. Sometimes I paid, sometimes I didn't. But now, lessons are learned. I am nearly nuerotic about paying my bills early or due date. I am officially a myfico junkie breathing in everything myfico. Reading until the wee hours of the night trying to wean information that may apply to my situation or upcoming situation. Willing my scores in the 700s across the board lol!  I am still trying to get the statement cut date thing down but in general my CR looks like a responsible adult lives there (mostly in part to this forum!).  I think I will def open a  bill paying account versus paying everything out of one bucket.  


Thanks for the AWESOME tips!!!

I did the same in my twenty's.  I'm sure I had years where I had good credit and didn't realize it because I've had so many bad ones.  I didn't really care about my personal finances that much.  I mean I paid my bills, but not always on time.  I'm now 35 and JUST now taking my finances seriously.  I guess I'm becoming my father now, lol.  


How coud I be fully employed for the last 12 years, making enough to cover my bills and then some and have bad credit?  That's the question I asked myself last year when my scores where sub-500.  It was time to get my act together.  It got so bad that I didn't even bother applying for credit cards because I knew I'd get denied.  So


1) I called all my student loans, paid whatever I needed to get current, applied for income base payments

2) pulled my credit reports for free, cleaned up my collections (2 of them from my ex-wife skipping out on services by using my name, 1 of them my own fault because I didn't man up and take care of the situation before it hit my collections; cleaned up any discrenpencies (ie accounts that should have been removed from the last few times I tried to "go straight"); attempted to GW the student loans but no love from those guys (yet)

3) established a savings account that was for real, not just for dipping into for mere materialistic whims

4) made sure all bills were paid on time

5) took my utilzation on my cards from 85% to 0% and kept it there for over a year now


Now my next steps:


1) Get better cards with higher limits

2) Accelerate my car payment that ends 12/2013 to have it paid off my 06/2013.  Then use 1/2 the money to accelerate student loans and the other 1/2 to save 12 months worth of expenses

3) Accelerate my student loan pay off.  I've got $80k to work through (I have an MBA).  I may take a part time job and put all that money to it.  It should take me 4 years tops if I go that route.

4) Buy a car properly.  Meaning 20% cash down payment, no rolling over another loan like I've been doing my whole life.

4) Get better cards with higher limits

5) Get the mortgage paid off quickly. 

6) Get better cards with higher limits.


Unfortunately, it won't be until September 2018 when my reports show a nice clean 7 year history.  6 more to go.

My Wallet:
Discover It $20.3k | Chase United $12k | AMEX BCE $8.2k | Costco Citi Visa $8k | Chase Sapphire Preferred $7k | Chase Freedom $5k | Citi Simplicity $5k | Paypal Extras Platinum $5k | Citi Visa Signature $3k | AMEX Schwab $3k | Care Credit $3k | Wells Fargo $1k