topic Re: Take the myFICO Fitness Challenge 2015 in Take the myFICO Fitness Challenge!

Take the myFICO Fitness Challenge 2015

09Lexie — Fri, 02 Jan 2015 19:00:40 GMT

Happy New Year to the myFICO Forums Community!
Can you believe we’re entering our sixth year of the myFICO Fitness Challenge? If you have financial goals for the New Year, the myFICO Fitness Challenge is the place for you!

What’s the myFICO Fitness Challenge?
To take part in the myFICO Fitness Challenge, simply post an introductory note, and state your financial goals for the coming year. Are you hoping to raise your FICO Score? Buy your first home? A new car? Get that coveted rewards card? Tell us about what you hope to achieve, and what reaching those financial goals will mean to you. As the year progresses, check back here to report on your progress, talk about hurdles you encounter, or simply reach out for support and encouragement from your fellow Fitness Challengers.

Monthly Check-Ins
To help you stay on track we encourage you to stop by for monthly check-ins for 2015. On the first day of each month, myFICO will post a monthly check-in thread for you to talk about your progress, successes, speedbumps, etc. Participation in these monthly check-ins is optional - but encouraged!

First time Challenger?
If you’re new to the myFICO Fitness Challenge, then welcome! To begin, set up your official MyFICO Siggy signature on your Profile page (Go to My Settings=>Personal Profile=>Personal Information). Then just reply to this topic, telling us a little about your financial situation, your goals, and how you plan to achieve them during the coming year.

Returning Challenger?
Welcome back! Please be sure to update your myFICO Fitness Challenge signature so it directs to the current challenge. You can also tell us about your results in MyFICO Fitness Wrap Up 2014!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Fri, 02 Jan 2015 21:00:51 GMT

Hello,

I would like to participate in this year's challenge, but I am unable to update my signature due to my lack of posts. Does anyone know the 'magic number' of posts so I can join in the fun?

Thank you!

Re: Take the myFICO Fitness Challenge 2015

coffeegal — Fri, 02 Jan 2015 21:22:59 GMT

Hello,

I am new to the board, and am excited to take the myFICO fitness challenge! I joined myFICO in the beginning of December, and since then increased my scores anywhere from 18 to 40 points. Looking forward into 2015, I hope to purchase a home, as well as simply see my scores continue to rise, and making smart decisions. I was irresponsible with credit cards in my college years. defaulted on student loans, ended up having no choice but to accept a subprime car loan, and it took me years to recover. I've browsed some of the posts here and there and found some really great information.

Looking forward to being a part of the group.

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Sat, 03 Jan 2015 04:30:39 GMT

Hello all,

I'm 25 and am really just now getting started on building/fixing my credit. As far as open lines of credit, I have none to speak of as of yet. However, student loans and medical bills have gotten me into trouble so far, so I'm working on cleaning things up. Just recently opened 2 new secured cards, one with the intention of increasing my limit every month. Hoping to get to the point that I can buy a house in the next few years.

Good luck everyone with the challenge this year!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Sun, 04 Jan 2015 05:51:53 GMT

Hello,

New to this site.

I am starting over from a BK and a Relationship break.

My goals are to start rebuilding credit responsibly. Some day purchase a home.

Starting Score: Equifax 641, Experian 659, Trans Union 649

Current Score: Equifax 641, Experian 647, Trans Union 649

My Goal: 700+ by 2016

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Sun, 04 Jan 2015 11:45:40 GMT

Hello!

Starting out for 2015 after about 7 years of just letting everything go after some really hard personal times. Have a lot of work to do. Several old accounts for small amounts dropping off 2015-2016 ; No active revolving credit, use or open accounts as of 12/14 when we finally looked, only an open mortgage.

Joint activity in this house as both of us, husband and wife, are pretty much in the same boat. We had a series truly traumatic experiences and are hoping to rebound. We are now used to purchasing solely on a cash basis so, using credit only as a tool to build our credit score should be no problem since for the past 7 years if we could not pay cash, we just waited til we could for everything.

Goal: Develop some lines of credit to start overshadowing the bad while working to get rid of the bad; 650 score by June 2015 first target

Ultimate Goals: Refinance mortgage before these low rates rise : Maintain 720+ for both of us

Steps Taken:

Since 12/16 did secure some starting credit lines to have a rebuild base:

1 - Fingerhut $500cl

2 - CapOne Quicksilver $300cl

3 - CapOne Platinum $300cl

4 - Walmart Store Card Auth User on spouse's new $300cl (they denied me, not sure why so took a hard hit there)

Spouse since Nov 2014 has added:

1 - New Car Loan $27k

2 - Fingerhut $600cl

3 - WalMart Store Card $300cl

4 - CapOne Quicksilver $300cl

5 - CapOne Platinum $300cl

6 - CreditOne $300cl

7 - First Progress secured $300 (before she even imagined she would get unsecured approvals)

8 - Kay Jewelers $6000cl (really surprised with instore approval on this)

Paid off one small collection we didn't know about from VZWireless now going back to VZ as we never stopped being a customer and they really screwed us up by not transferring balance when we went from personal to business account.

Lots and lots of research reading on his forum as well as some other sites like Credit Karma etc: using and paying to see movement in scores; PTD options; etc

Pulled all credit reports ; currently outlining plan for deletion of bad accounts; all realy small amounts I could pay but need to invest the time to get PTD not just paid.

Some start falling off on their own in Feb 2015 so, need to start a priority plan on who stays on longest and get rid of them.

Hoping by joining and continuing on the forums for guidance we will keep the momentum to aggressively clean this up quickly and not just let the old stuff roll off over the next 14 months.

Good luck everyone!!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Mon, 05 Jan 2015 18:48:22 GMT

i am currently sitting at 509 overall score (lender told me this) Transunion and Equifax say to little credit information, and Experian 509. so not good at all. My goal for this year is to raise my score to atleast a 600 within the first part of the year through on time payment to my car loan, and atleast 2 secured credit cards to start off.

Second phase of my credit repair/build is to get atleast 1-2 unsecured credit cards to increase credit line and pay off a part of my car loan to decrease my overall loan. i would also try to get qualified for a mortgage loan so that i can purchase a house for my 2 ladies (wife and daughter)

lastly i would like to keep improving my score until this time next year.even if i reach my goal. hope everyone reaches their goal and checks in monthly.

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Mon, 05 Jan 2015 19:13:55 GMT

I have only recently discovered myFICO so 2015 will be my first year doing the myFICO Fitness Challenge. I have a big goal for the year and some smaller goals that will likely need to be achieved in order to accomplish the big goal. My ultimate goal for the year is to start my own business. I have been working on my plan for quite some time now and overall this is going to cost $85,000 dollars. I will need to borrow $65,000 to get the business started and stabilized. Starting this business to me represents my chance to be truly free, to reap the full reward of my labor and to make my friends and family proud by carving out my own slice of the American Dream.

I think in order to borrow that kind of money my credit score will need to be significantly higher than the low 700s as it is now. The higher it goes the more it helps so I've set 800 as my goal because it seems like once you get into that magic category of 800+ you become almost like financial royalty. Its like they ask for your score and before you can even finish saying it they hear the 8 and say yes lol. maybe some exaggeration there but you get my point, the 800 club is like a status thing, its glamorous.

So, in order to hit 800 I believe I will have to do a little bit of scratching and patching to get some really old negative student loan stuff removed from my reports. There may be nothing that works to get rid of these old lates but the least I could do is try to have them removed. Either way they will start to drop off due to time in June of this year so I should be in line for some sort of increases no matter what.

Re: Take the myFICO Fitness Challenge 2015

ExNavyMom — Mon, 05 Jan 2015 19:30:38 GMT

Excited to take the MyFICo fitness challenge for 2015. I have had some financial hiccups in the past and although I am not nearly out of the woods I have made some positive strides.

My goal this year is to purchase a vehicle after a repo in 2008. I have been surviving on car rentals, zipcar, and lyft. I'm kinda over it. My repo falls off this year and I plan on financing a new Honda Fit (within my means) through DCU or Capital One. I also am aiming for the Capital One Venture after I garden for the next 7 months. I currently have a QS1, DCU Plat, Barclay, and USAA established credit lines.

I still have a utility collection and a BK that dont fall off until early 2016. I also have Sallie Mae lates that don't fall off until 2017. These are currently my hinderances at the moment. I am just maintaining my credit now and making good decisions. I did splurge on an Iphone 6 this New Years with AT&T since they were offering a deal that included a free tablet. That was my only unplanned purchase but there won't be anymore until I have a new vehicle and I am done gardening in July, hopefully with 700 credit scores.

Good Luck Everyone!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Mon, 05 Jan 2015 20:29:00 GMT

I'm in!

I started out in a bad spot when I was 18 with my first few credit cards and that all went downhill.

Fast forward 6 years...I've been working on keeping my payment history positive and I thought that was all I could do, until I found this forum!

I am now taking this on aggressively until I get to my goal. I would like to trade in my car and get an amazing rate without a cosigner by the end of this year.

Good luck to everyone!!!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Tue, 06 Jan 2015 02:32:49 GMT

I've basically been in a FINANCIAL FOG for a looooong time. Achieving a really good credit score was for other people to accomplish. it always seemed like I was never going to be that person. Then I came across the myFico forum and I really have hope. So we'll see.

hubby and I are in foreclosure...since 2013. Our mortgage has been sold at least 4 times and it is a mess. All lenders are hell to deal with and we are currently battling over whether all of our payments are being reported. The current lender, Selene Finance, is willing to modify mainly because we have been such a pain in the ass and filed a Temporary Restraining Order against them selling our house...so they know we are not rolling over!

In the meantime, my car broke down in early December...which may have been a blessing in disguise b/c that is what made me pull my credit report and see all the craziness....since my CU turned me down. I got approved through Exeter via Carmax at 18.25%. Not excited about the rate but I'm in no position to complain...so it looks like i'll take it...but will refi as soon as possible.

Also, started working on rehabbing my school loans (over $140,000.00 owed) thanks to all of the very informative posts on this site.

And applied for a secured credit card.

All of this within the past five (5) days.

Feels like a lot ...but I am SOOOOOOOOO overdue for a financial makeover. Seriously.

I've just ignored it all because my husband and I make decent enough money that we've just paid cash for everything. But as I am learning...sometimes that's not enough.

Goals: Whip these school loans into shape, if at all possible., get a credit card (I do not have one), get a used car loan, raise my credit score to 600-650 this year.

Fingers crossed.

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Tue, 06 Jan 2015 19:27:08 GMT

Hi all,

I'm new to the forums and the challenge. I have been working to repair my credit using one of the free score sites for about 8 months now and finally gave in to get a more accurate picture of my credit.Historically I worked paycheck to paycheck, put myself through a bachelors degree as an adult learner, and just really started to get my finances in order over the last 6 months.

I have about 60k in student loans, no current car payment. I have 2 store cards and 2 CCs, keeping balance on 3 of them below 25% (one I am still paying off in chunks - >50% util). I have 6 collections records I am hoping to get cleared up - 2 disputed in 12/14, 2 wrote PFD in 1/14, and 2 I'm not really sure how to address.

Overall, my goal for 2015 is to reduce the number of collections on my file, work on rehabbing one of my student loans that went 60 days late due to a period of unemployment and stupidity, and try to raise my score to 700-720 across the board. Hopefully this is a realistic and attainable thing I am also looking to purchase a new car between Apr-Jun so every little bit of head way I can make in the next few months is important.

Best of luck to everyone in getting financially healthy in the new year!

Re: Take the myFICO Fitness Challenge 2015

crrredit — Tue, 06 Jan 2015 22:30:41 GMT

I'm getting a bad HTML message when I try to copy and paste this code.

It deletes: img align="left" border="0" width="50" height="50" src="http://ficoforums.myfico.com/html/assets/challenge.png">

Re: Take the myFICO Fitness Challenge 2015

crrredit — Tue, 06 Jan 2015 22:45:00 GMT

Got past the error message but the image is missing. System removed that part of the code

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Tue, 06 Jan 2015 23:04:22 GMT

Hi all,

I was finally brave enough to take a look at my credit a few weeks ago after a few years of just ignoring collection calls and letters. I went through a couple bouts of unemployment and was basically just being young and stupid but now I am ready to dig myself out.

I'm very focused on getting my credit cleaned up. I have a budget that I have been sticking to for the last couple weeks. I feel more determined than I ever have before. Im glad I am tackling this now instead of letting it fester indefinitely because I have goals for my future (a new car, getting married, buying a house) and I want to become a financially responsible person. I am very thankful for this site because I am learning things everyday and I know I can't go backwards with the new knowledge I have gained.

Good luck everybody! This is gonna be a good year!

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Wed, 07 Jan 2015 04:16:48 GMT

I would love to take part of the FICO Fitness Challenge 2015. I plan on moving and would like to start fresh and on a good foot for the year. All last year I struggled financially and it seem never ending but I feel really good about this year and my decisions. Happy New Year!!!

tRe: Take the myFICO Fitness Challenge 2015

crrredit — Wed, 07 Jan 2015 12:20:35 GMT

Big Thanks to whoever helped me out with my signature image issues!

Re: Take the myFICO Fitness Challenge 2015

cartwrna — Thu, 08 Jan 2015 03:59:06 GMT

Well I started this challenge last year when my scores were high 400s, around 16 collections and a couple charge offs with a goal of reaching 600. I just hit 600 this week so it worked, although my Experian hasn't updated yet (got a recent charge off deleted) :-) :-) I am going to participate again this year. Currently my credit picture look a lot better. As far good with no lates/bads indicated:

Installments:
Student loans opened 2007, balance $1600.
Car loan Sep 2013, balance 17.5k
Car loan May 2014, balance 29k
Car loan March 2014-May 2014 $0

Revolvers:
Cap 1 secured September 2012, $50/$200
Cap 1 QS1 1/15, $0/$500
Overstock 1/15, $0/$250
Buckle 1/15, $0/$250
Cred 1 7/14, $200/$300
WalMart AU 10/14, $400/$600
VS AU 11/13, $400/$1000
Cred 1 AU 1/14, $290/$400

Bad:

Verizon CO 9/2013, $1164 EQ,TU,EX
Progressive CO 2014, $145 (can PFD) TU
Utility CO 2008, $89 EX (due to fall off 03/15)
Medical bill, $140 EX (might try HIPAA)

AAoA: Close to 2 years

Inquiries: TU 30ish and EQ 30ish EX 15ish
Around 15 are from rate shopping 09/13
Another 15 are from rate shopping 05/14

My plans are to refinance my cars next month with my CU since I'm paying 19% interest once credit cards are paid down and Verizon is paid. They offered me 3.75% once EQ reached 640, as low as 1.75% if I could get higher which I may pull off once I pay the Verizon account due to its under revolving debt and hurting my UTI% as well as paying all my CC off. Once I refinance I will garden all my cards and not apply for anymore credit until I work all or close to all of the inquiries off. I will keep trying to GW the Verizon account for a deletion. I hope to hit the 700 club this year as well :-D !

Re: Take the myFICO Fitness Challenge 2015

Anonymous — Thu, 08 Jan 2015 16:11:56 GMT

Happy New Year All!

I am a newbie and have no clue where to even start. I've had bad credit for 9 yrs, and I am looking to work on that really hard this year. I am looking to purchase a home soon hopefully this year and I vow to turn my credit inside out to how it should be. I have some Student Loans which are reporting rather negative and heavy inquiries that are affecting my credit. This year I will not run my credit at all, and will work on the revolving/installment account balances. Any tips at all that can be given to me in my journey to improve my credit please feel free to reply because I need all the help I can get, especially on how to maneuver and use the tools on this site. Good luck to all on your credit journey hope a year from now I can help others with what I went through succeed.

Re: Take the myFICO Fitness Challenge 2015

MarineVietVet — Thu, 08 Jan 2015 20:28:10 GMT

@Anonymous wrote:
Happy New Year All!

I am a newbie and have no clue where to even start. I've had bad credit for 9 yrs, and I am looking to work on that really hard this year. I am looking to purchase a home soon hopefully this year and I vow to turn my credit inside out to how it should be. I have some Student Loans which are reporting rather negative and heavy inquiries that are affecting my credit. This year I will not run my credit at all, and will work on the revolving/installment account balances. Any tips at all that can be given to me in my journey to improve my credit please feel free to reply because I need all the help I can get, especially on how to maneuver and use the tools on this site. Good luck to all on your credit journey hope a year from now I can help others with what I went through succeed.

Hello and welcome to myFICO,

In my opinion you've found the perfect place to learn about proper debt and credit management. There is lots to absorb here so take your time and peruse all the boards to see what you think might interest/help you. Read, research, ask many questions, and get involved in the community.

Credit repair and rebuilding can be confusing and frustrating at times but if you're determined to succeed you will.

Two boards I will recommend you visit for sure are Student Loans and Rebuilding Your Credit. You'll get very good advice and suggestions about how to proceed.

Good luck in your journey!