topic Re: First time over 700!!! (temporarily) in General Credit Topics

First time over 700!!! (temporarily)

FirstAscent — Sat, 22 Feb 2020 00:29:19 GMT

As I continue to do all I can to rebuild my credit, as of today, this is the first time not only one has been in the 700's but all THREE! I'm pretty friggin excited!

EQ - 715 (jumped +37 today)

TU - 704 (jumped +26 today)

EX - 718 (jumped +33 today)

As excited as I am, I realize this is a temporary jump but it's still a good thing. I got a glimpse of what I'm currently potentially capable of. Here's why I had recently got a new NFCU platinum card for the 1.99% balance transfer. The NFCU card hasn't posted to the bureaus yet and today the third (last) card of my balance transfers updated to the bureaus and all old cards went from about 85% to 1%. So this is why it's temporary, it'll drop back down a little once NFCU updates to the bureas. I'm hoping to have that one card paid down to under 68.9% before the next statement cycle (March 2nd) just in case it updates after that so hopefully won't get as big of a hit.

I'm just excited because all my negatives are pretty old:

basically one collection about to fall off in a year. TU has an extra collection but hoping to get that removed early next month, next month will be 6 months early.

I do have some old late payments on student loans, but my latest late payment was at least 3+ years old so it's hopefully starting to have less and less affect.

But that fact that I know simply with utilization I can be in the 700's for the first time EVER in my life is pretty epic!

Re: First time over 700!!! (temporarily)

thornback — Sat, 22 Feb 2020 00:37:10 GMT

Congratulations! That's a huge milestone and, though temporarily temporary, just knowing your scoring potential means all the world -- big confidence booster. And just think... it's very likely that by the time you do get your debt paid off your scores may be even higher than +700s you see at this moment - exciting stuff to look forward to .

Re: First time over 700!!! (temporarily)

FirstAscent — Sat, 22 Feb 2020 01:32:30 GMT

Thanks! and yeah exactly, when I do have the debt paid down more, more time will have passed which means more potential baddies to be further away and more positive data!

I feel like I have a good handle on everything now and it's a good feeling to not be stressed about any new bad things. just continuing down this path and waiting for the baddies to some day be fully gone!

Also is a good example of how much utilization plays into all of this and if you have high utilization how much of an impact you can expect once it goes down. But of course everyones profile is different so YMMV.

I'm sure there's people with solid profiles and ONLY high utilization where it has less of an impact on them.

But due to timing, this is as realistic of a "simulation" as it gets haha.

Re: First time over 700!!! (temporarily)

Anonymous — Sat, 22 Feb 2020 01:48:29 GMT

Congratulations, OP! Temporary or not, it deserves recognition as your scores will rise again! 👍

Re: First time over 700!!! (temporarily)

M_Smart007 — Sat, 22 Feb 2020 01:53:56 GMT

A Peek over the fence, well done OP

Re: First time over 700!!! (temporarily)

AllZero — Sat, 22 Feb 2020 02:03:12 GMT

Congratulations on your success!

Re: First time over 700!!! (temporarily)

Trudy — Sat, 22 Feb 2020 05:04:47 GMT

Congratulations! As noted above, it should be celebrated and you've done the work and now you know what it takes. You're going to have to change your Goal Score. Been there done that

Re: First time over 700!!! (temporarily)

newfossil — Sat, 22 Feb 2020 17:34:12 GMT

congratulations!

Re: First time over 700!!! (temporarily)

donkort — Sun, 23 Feb 2020 06:40:36 GMT

Congratulations!

Yep.....keeping down utilization is the key....

Re: First time over 700!!! (temporarily)

Iusedtolurk — Sun, 23 Feb 2020 07:02:49 GMT

@FirstAscent wrote:
As I continue to do all I can to rebuild my credit, as of today, this is the first time not only one has been in the 700's but all THREE! I'm pretty friggin excited!

EQ - 715 (jumped +37 today)
TU - 704 (jumped +26 today)
EX - 718 (jumped +33 today)

As excited as I am, I realize this is a temporary jump but it's still a good thing. I got a glimpse of what I'm currently potentially capable of. Here's why I had recently got a new NFCU platinum card for the 1.99% balance transfer. The NFCU card hasn't posted to the bureaus yet and today the third (last) card of my balance transfers updated to the bureaus and all old cards went from about 85% to 1%. So this is why it's temporary, it'll drop back down a little once NFCU updates to the bureas. I'm hoping to have that one card paid down to under 68.9% before the next statement cycle (March 2nd) just in case it updates after that so hopefully won't get as big of a hit.

I'm just excited because all my negatives are pretty old:
basically one collection about to fall off in a year. TU has an extra collection but hoping to get that removed early next month, next month will be 6 months early.
I do have some old late payments on student loans, but my latest late payment was at least 3+ years old so it's hopefully starting to have less and less affect.

But that fact that I know simply with utilization I can be in the 700's for the first time EVER in my life is pretty epic!

Temporary or not that's some celebratory type stuff. It's so true that utilization has a large and fast effect on credit scores.

If a person needs to increase their credit score fast all they have to do is reduce their individual credit utilization which will reduce their aggregate utilization and when all is done and reported the higher scores will materialize.

Seeing what score improvement you could possibly get is a great motivator and that insider information will help you in the future when you decide to app for something.

Re: First time over 700!!! (temporarily)

CreditInspired — Sun, 23 Feb 2020 12:53:34 GMT

Hip Hip Hooray OP. Job well done. And as everyone else has said, what a great motivator this is. Keep up the good work! As you have learned, patience, persistence, and time pay huge dividends. We dont know you but we're all still proud of your accomplishment to reach your goal.

Re: First time over 700!!! (temporarily)

donkort — Sun, 23 Feb 2020 19:48:18 GMT

Congratulations. This is only a prelude to things to come....

Re: First time over 700!!! (temporarily)

FirstAscent — Sun, 23 Feb 2020 20:10:24 GMT

Thanks so much everyone! Yeah it still feels really good even knowing it'll drop soon. But it's a more "healthy" drop as in since it's just utilization it's an easy fix that doesn't stay with you, like a late payment etc.

And as I mentioned earlier just KNOWING now what it can be with my current file is pretty awesome. I was hoping for 690-700 so being around 715 is so awesome!

It's funny how a credit score can be motivating to pay down debt quicker. And I'm competitive so that pushes me more too haha.

honestly if I was already at 720 or so and with higher utilization I probably wouldn't pay down my debt AS fast, especially since I just did the 1.99% for 12 months balance transfer. But now I'm considering paying about $4k to the NFCU card which would bring it to under 68.9%

i only wanted to do $2k but I don't want my score to drop as much now haha

Re: First time over 700!!! (temporarily)

seattletravels — Sun, 23 Feb 2020 21:23:30 GMT

Congrats! Keep up the great work!

Re: First time over 700!!! (temporarily)

Anonymous — Mon, 24 Feb 2020 04:32:34 GMT

Congratulations on your accomplishments consistency is key!!! Try not to charge anything else on the new NFCU card till you bring the debt down. Good luck and keep that score soaring high.

Re: First time over 700!!! (temporarily)

Anonymous — Mon, 24 Feb 2020 14:46:10 GMT

congrats on getting all 3 scores to 700, op!

i have one more thing left on my TU that i need to take care of and hopefully i can be there too.

Re: First time over 700!!! (temporarily)

AverageJoesCredit — Mon, 24 Feb 2020 15:34:19 GMT

Shibby

Re: First time over 700!!! (temporarily)

Anonymous — Mon, 24 Feb 2020 16:44:59 GMT

Congratulations! Much better than what I did when I got my Amex Blue Cash Everyday. I did a balance transfer, but I also transferred thousands of dollars of spending limit off another Amex,. so my utilization went up and total service level went down for two months till the new card reported.

Re: First time over 700!!! (temporarily)

Anonymous — Mon, 24 Feb 2020 19:01:31 GMT

Congratulations!! That is my goal as well and I know ot feels great to have made it to this point. I had a increase of 28 points 2 days ago and did the happy dance in the parking lot .