topic 12 point Boost in EQ YAY! in Rebuilding Your Credit

12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 21:58:15 GMT

Hi all,

Debated on whether or not to pull my two FICOs today as it has been one month but decided ... what-they-hey and went for it. My EQ FICO is now 608: up 12 points in one month and my TU FICO is 564: up 6 points. My EX FAKO remains steady at 580 but I have no earthly idea as to what it may look like on FICO (gunna ask my CU to pull it for me).

These may seem like minor increases to some but I feel they are realistic outcomes of paying on time and keeping my overall util at a 5% - 9% ratio. I know it is goiing to take time to rebuild my credit back to the 800-club level it used to be eons ago but I'm in it for the long haul. Thanks to everyone here for the advice and suggestions. I would not be seeing these increases without you.

For others out there that may feel discouraged or see this as a daunting task just remember: your credit scores did not tank overnight and neither will the rebuild. Patience is key here. Chin up!

Cheers all from not-so-sunny Seattle

Re: 12 point Boost in EQ YAY!

DaveSignal — Sun, 01 Jul 2012 22:01:49 GMT

You can rebuild your 500-range FICO to a pretty decent near-700 score in about a year. I know because I did it. It just requires persistence and motivation.

Re: 12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 22:05:15 GMT

Great to hear, Dave. Often I'll come onto the boards and review the autosigs of posters to see what they have experienced. Persistence and patience is definitely the key here and I'm signed up and ready to roll with it. I see from your sig exactly what you are saying and that proviodes inspiration. My ultimate goal is to purchase a home within the next 2-3 years and at this rate I am sure I'll be able to qualify without issue.

Thanks again!

Re: 12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 22:29:08 GMT

@Anonymous wrote:
Great to hear, Dave. Often I'll come onto the boards and review the autosigs of posters to see what they have experienced. Persistence and patience is definitely the key here and I'm signed up and ready to roll with it. I see from your sig exactly what you are saying and that proviodes inspiration. My ultimate goal is to purchase a home within the next 2-3 years and at this rate I am sure I'll be able to qualify without issue.

Thanks again!

I think it provides great motivation to post ANY point increase whether it is 1, 12 or 50pts. I too have had credit issues as most of us on the forums have experienced but once we decide that "IT's TIME and WE ARE READY", then we do what we have to do. I offer you encouragement in knowing that with hard work, clearing baddies, paying on time, PFD etc. it is entirely possible to jump greater than 100pts in a year or sooner.

My EQ was 501 on 1/1/12 and now on 7/1/12, it is 657 - so it IS possible. I went from 500s to 700s in 2010, messed up AGAIN and had to start over at the beginning of this year, so ANY gain is nothing but positve GAIN as we LEARN from our MISTAKES (we learn how to OVERCOME them).

Re: 12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 22:32:29 GMT

Wow ... now this is what gives me motivation!

Re: 12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 22:35:06 GMT

Wow I think I really need to stick around here to get some words of wisdom.

Great job on the score increase!!

Re: 12 point Boost in EQ YAY!

Anonymous — Sun, 01 Jul 2012 22:40:50 GMT

To help in my quest I created a spreadsheet to track my progress. There is a seperate worksheet (tab) for each creditor which includes payment history, etc and then a front-page of sorts that lists the overall. Within, I also track GW requests

My favourite part and what I pat myself on the back for is a simple chart which is actively tracking my FICO and yes, even my FAKO scores. I'm unsure how to paste a snip-it into my post but it provides a nice at-a-glance visual of my progress. It's set up like an ongoing bar graph ... with a line for each CRA going up (yay!) and down (oh noe!) through the months. I read posts here then go back to my little tracker, sigh a bit, then take a deep breath, exhale, and say: I'll get there d*mit!

Re: 12 point Boost in EQ YAY!

Anonymous — Mon, 02 Jul 2012 00:07:52 GMT

Just think for a minute....Wouldn't it be fantastic if we all could gain 1-2 pts per day...my scores would be totally awesome! I mean to go from 500 to 865 in a year.....(ok, back to reality...my to do list 4 tomorrow > > > continue to mail/fax GWs to Toyota 1-60 day, 2-30 day lates, and Cap 1 for 1-30 day...we must keep fighting...as you say, even if they are BABY STEPS