topic Re: Started/re-building credit history from 2018, What is your current CL? in General Credit Topics

Started/re-building credit history from 2018, What is your current CL?

Anonymous — Mon, 04 Feb 2019 05:53:11 GMT

Hello Folks,

Just doing a touch base with all the fellow fico members who started rebuilding/started building their credit history from late 2017 or early 2018.

Just to see a range of data points.

I started with exposure of <1K, and it grew to 18.5K in last 14 months.

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 12 Mar 2019 14:13:55 GMT

1/1/2018 - 2 cards, total CL $1900, FICO8s around 560.

3/3/2019 - 11 cards, total CL $12,450 in CLs, FICO8s in sig. Continuing to pay down utilization and work on more CLIs this year, along with closing at least one card.

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 05 Feb 2019 07:39:15 GMT

After messing up my credit twice I didn’t really want to get back into credit. I swore it off but you know how that story goes — I couldn’t even get a cellphone plan without a deposit or them telling me to get a prepaid.

Started with a few negatives ... credit score in the 500s no accounts.

4/2015 $99 for $500 BOA secured card, still scared of credit I didn’t use it much paid it off... I pretended I didn’t even have it

2/2017 saw request button on boa to increase and said wth (denied)

2/2017 get a letter saying refund of security deposit... letter said my score was 620 and I was in shock it rose that much.

3/2017 curious as to why they didn’t get an increase found myfico and started learning

2/2018 — scores in sig outdated, 22 accounts $40,000+ in total available credit (before a few recent increases) 1 paid off charge off still on report from nearly 6 years ago holding my score down

Only thing I regret is not learning about how credit works sooner — I feel like I would be way ahead had I learned before ruining my credit twice — and it’s crazy because everyone I talk to about credit is exactly how I use to be — they don’t even know the basics and it’s sad.

Good luck on your journey

Re: Started/re-building credit history from 2018, What is your current CL?

Girlzilla88 — Tue, 05 Feb 2019 16:56:51 GMT

Didn't pay any attention to my credit didn't really understand how any of it worked to be honest so I started seriously digging end of 2017 I had lower 500 score got a secured 200 CC because I misunderstood how those work as well but decided I had nothing to lose and needed to start somewhere (it's never to late to get your ducks in a row) grew my score to the end of 2018 to 755 and then refinanced my vehicle from 19% down to 3.4% updated my 200 secured to an unsecured 500 from my CU, and added an unsecured Amex of 1k and an unsecured Chase of 3800!!! That's right I started out a secured 200 and jumped to 3 unsecured CC and a crazy drop in apr in one year! Takes hella dedication and NOT TOUCHING but now I have a lot better understanding and I am eligible for a CLI on my Amex and am also eligible for a house this year! Afterwards I look forward to building my CC's to high amounts and soon thereafter getting my dream car! Good Luck to anyone who is building it is very tough but oh so worth it my banks jaw dropped when they saw my new 755 score end of December and it was very funny to me for them to be so nice about wanting to help me more after hahaha!

Re: Started/re-building credit history from 2018, What is your current CL?

800FICOGoal — Tue, 05 Feb 2019 17:27:37 GMT

I started in late 2017, but didn't apply for anything until 2018. I did a bunch of research for a few months. You can see my stats in my signature.

I applied for my cards between March and June and ended with a total CL of $5k. It will probably stay that way until 2020 as I don't really focus on CL's since they don't really increase your score outside of utilization (which I keep low anyway).

Im focused on increasing my AAoA/AoYA which has a more profound effect on scores and scorecards.

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Wed, 06 Feb 2019 22:51:36 GMT

I started in February 2018, with a secured card from TD Bank originally with 1000 dollars, now I have eight credit card with a total of 6800 dollars (Soon 7050 if Capital One maintains its promise of increasing my CL)

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 12 Mar 2019 03:54:29 GMT

2018 Empty file but student loan. 600's

-Disc IT secured

-Cap 1

In between:

-SelfLender

-local CU - 10 year personal loan - credit builder

-MyJewelersClub - 5k

-Amazon Rewards Visa - 2500

-Cap 1 Venture - 8000

Now

Cap 1 graduated to QS1 - 3k

Disc IT graduated now 3k

Cap 1 Venture - 8k

Amazon Rewards - 2.5k

Score 725, 1 year avg combined history

Denied:

Chase, BofA, US Bank, Amex (burnt)

Any tips to build it even stronger? Didn't get approved for anything chase. Might need to open a checking and savings there then slowly work my way in.

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 12 Mar 2019 05:55:46 GMT

3 credit cards, $9,700 total
Freedom: $2,500
Cash Magnet: $3,800
Discover it: $3,400

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 12 Mar 2019 13:14:55 GMT

@Anonymous wrote:
... Just doing a touch base with all the fellow fico members who started rebuilding/started building their credit history from late 2017 or early 2018. Just to see a range of data points.

May, 2018: 20,275 Revolving CL

March, 2019: 245,200 Revolving CL

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Tue, 12 Mar 2019 15:11:27 GMT

I didn’t really get serious about rebuilding until March of 2018. I went from $9,250 to $52,450 in total credit lines.

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Wed, 13 Mar 2019 03:12:51 GMT

@800FICOGoal wrote:

Im focused on increasing my AAoA/AoYA which has a more profound effect on scores and scorecards.

What is AAoZ/AoYA???

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Wed, 13 Mar 2019 04:05:22 GMT

Average Age of Accounts
Age of Youngest Account

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Thu, 14 Mar 2019 14:55:47 GMT

I started in late 2017. I caught the bug with Credit Karma... My scores were in the lower 500s.

I had 4 negative remarks but a LOT of credit and bad ratios:

3 past 30 days due to blatent oversight and not paying attention
1 charge off 43.00 medical bill that I had forgotten about
A lot of new hard inquires - me trying for even more! BAD move!
A BOATLOAD of credit cards and store cards! ugh! - ratios were killing me!
Most all maxed out - killing me more!

I wanted more hard and factual info regaring my credit, so I moved to myFICO this year. SO MUCH BETTER and real in my opinion and expereince. Yes, I pay, but it's worth every penny to me now.

It was interesting to watch my actions reflect directly within my credit. What I noticed first is even the smallest little change seemed to elicit a change!

Then, I started making bigger changes... paying minimums on cards except for one and putting that into another card. Things, then really started to change. I also went with a service (be very careful here) and had a couple things removed, that helped a lot. I'm not sure I would do that part again though. I'm still currently with that service, but will likely opt out of that and put THAT money into more payoffs.

Since 2017, I have paid off all the store credit, a credit union line of credit, and then started pounding other things.

As of March 2019 I ticked over into the 700s and only have 4 cards left! I have a lot of options now and am looking to refi a car loan for a better interest rate. I will also do a balance transfer on two of the cards to get a promo interest rate of 0% for 18mo and pay them off. OPPOSED to the 19% im paying now.

I NEVER thought "I" would EVER be writing about or quoting interest rates! It never mattered to me and I just didn't pay attentiont to that. Wow! That's crazy!

Keep reading and keep learning... knowledge IS power in this game. The more you know, the better decisions you can make. This forum is very helpful and the people here have an abundant amount of great knowledge to take from!

All the best to you!

Re: Started/re-building credit history from 2018, What is your current CL?

Anonymous — Thu, 14 Mar 2019 15:10:37 GMT

Started with a clean, empty file in March 2018 after living the cash life for over a decade.

March 2018 - Approved for Capital One Platinum - SL $300, no score

March 2019- 8 personal cards totaling $15,350, 2 business cards totaling $6k, scores in the high 600s (down from the low 700s thanks to all the new account and INQS)

The rest of the year will be a slow one. There's really only 1 no-AF personal card I've got my eye on and one business card I'm looking into so most of 2019 will be spent in the garden and chasing SP CLIs.