topic Re: Your Goals For 2015? in Rebuilding Your Credit

Your Goals For 2015?

masscredit — Sat, 13 Dec 2014 02:34:54 GMT

I consider myself at the tail end of the rebuilding process. Baddies from before my BK are starting to age off, I get good rates for auto loans and have a decent number of credit cards. I only had $1800. in available credit 3 years ago. My goal for this year was to be around $22-$23k. Currently at $29,850. and I might see one more increase in the next few weeks.

I've been thinking ahead to next year. I can't really think of any goals. My utilization is at 1% and I don't want to take on any inquiries. I have 2 reporting on my EQ report. Would like to see zero on all of them so no app spree. The only thing that I can think of is letting my current cards grow and try to get paid state tax liens off of my reports. THAT would be a huge goal. The state doesn't like to work with people like the IRS does. Other than that, it's just time that will heal my scores.

Re: Your Goals For 2015?

srchick — Sat, 13 Dec 2014 15:07:22 GMT

Congrats on your progress. You're thinking along the same lines as myself. My state lien will be paid by March and will work to ensure it's removed asap. Have 4 revolving cc's and 2 store cards, also new car payment with 100% excellent payment record. No new apps and will "permanently" garden in 2015 to give current prime cards a chance to mature. Plan to achieve mid-700 scores by 2nd qtr of 2015. Goal?: To move from rebuilding mode of 2014 to "maintaining and raising the bar to the next level" in the new year. Particular reason? Because I want to continually experience the financial freedom I have worked so hard to achieve this year. Each time I got an email or letter from a credit bureau showing another collection was removed from my reports. Having a auto dealer finance manager say "We can finance your car for 4.45% (as compared to 17-19% from the past). Applying for and receiving a Chase Freedom cc with $2K starting limit as compared to First Premier and Fingerhut territory of the past; Working on my hubby's reports and raising his scores as well; never hesitating again to answer the telephone in case it's a collection agency calling about a past due account. To have prestigious AMEX send ME an invitation to apply for their card (didn't take it, threw it in the recycling but the fact it was sent!)

For some on this forum, what I've shared is no big deal, but for me and where I started, my accomplishments are HUGE. Many of the tools I gained from reading, reading and more reading the Myfico threads, and applying the methods shared. I will NEVER go back in the dark hole of financial despair. I'm anxious to see New Year's Eve arrive so I can put new goals and plans into place. I like the new "decent credit me"!

Re: Your Goals For 2015?

Repo-ed — Sat, 13 Dec 2014 14:51:32 GMT

Now that my CRs are now baddie free, I will be going on a silly app-spree: chase SWA, fidelity Amex at the minimum.

Re: Your Goals For 2015?

Imperfectfuture — Sat, 13 Dec 2014 15:13:08 GMT

I'm at the tail end of a rebuild also. Tomorrow or Monday, my last baddie should fall off TU. My EX is clean. EQ is clean in January.

Not sure I will keep score watch. Might cancel prior to mid Jan update. Have started my installment loan, which reports as secured (contrary to banks claims), but that doesn't matter for fico purposes.

Goals, get scores above 720 all three before another app in 2015. If attained, acquire Sallie Mae and maybe Discover It around April 2015, close out Legacy (rebuilder) Visa (discover likes EQ, so waiting for that score to normalize). PC quicksilver one to quicksilver.. Maybe acquire a card or two in November (full wish list, Sallie Mae, Discover It, Chase Amazon, Chase AARP, and BOA BBR).

However, I want to spread the apps out, to keep scores enhanced, want 760 min by end 2015. Also, discover and SM are tricky, they give you better limits if you don't have a lot of cards.

And why stop score watch? Because can save up money to check scores for appropriate apps prior to apping. No sprees here.

Besides credit, since I manage my own portfolio, need to enhance my knowledge there,, and make up some money to buy while the goods are low. I also wish to increase my side savings for future purchases, emergency savings by 180 per pay period (May be more later this year). That's it.

Re: Your Goals For 2015?

Anonymous — Sun, 14 Dec 2014 01:04:08 GMT

I am in the begining of my rebuild.

I am looking at 4 baddies falling off

- and 4 new lines to age. 2 my own lines, 2 AU lines

January I will open a secured credit builder loan

June 2015 I will go on a mini app spree (barclays, store card, and maybe one more)

Garden until end of year

2016 will be my year, as all of the awful baddies (beside brupt) will age off, and I will only have 4 left. Then its Amex @ 24 months to try and 3XI

Re: Your Goals For 2015?

cartwrna — Sun, 14 Dec 2014 13:56:03 GMT

2015 I plan to build my score up as well as get my last collection and late pays from a current Cap 1 card removed. Have hopes of securing a mortgage mid 2015. Srchick, it's funny that you say you want a Chase Freedom. That was the first cc I ever received right after turning 18, unfortunately that's also the first cc I used to destroy my credit :-/ I just looked the card up lastnight and it stated that it was for "excellent credit". Man did that break my spirit some :'-( Good luck with your goals everyone!

Re: Your Goals For 2015?

Anonymous — Sun, 14 Dec 2014 14:06:28 GMT

My goal for 2015 is a house.

My wife and I are in the mortgage process right now. Having signed the GFE last week, and being informed by my buyers agent that the bank had the appriser at the property, everything looks good so far.

The only negative that I have now is DTI.

If the house loan falls through, then I will continue to build, build, and build, and try again in the summer.

Re: Your Goals For 2015?

Dj4Money — Mon, 15 Dec 2014 03:42:07 GMT

Continue the rebuilding process that was just started 10/14.

1) Increase the balances on both secured cards

2) Contemplate paying the negative info ( 2 Charge-Off's, 1 Active Collection)

3) Wait for my last paid collection to fall off, somewhere around July 2015 if not sooner

This is all I can really do. I don't really want any store cards right now, I don't like Fingerhut's selection and it wouldn't be something I would use often. At some point I will add a third card.

The negative info as far as I know won't take a PFD or remove late payments (School Loan). The student loan will update and remove lates after nine months. I need to confirm that with Great Lakes but I think this is the case. The others are known not to take PFD; I am going to have another conversation with SDFCU to confirm these are worth paying.

If not, I'll take that money use it as down and take a slightly higher interest rate on a car loan somewhere else, around the end of spring.

Re: Your Goals For 2015?

Anonymous — Mon, 15 Dec 2014 03:49:07 GMT

1.) Pay off this charge from Care Credit which is a little over $1300.

2.) Pay for deletion of a medical charge off. If I can't get deleted, then I'll just get it settled.

3.) Continue to pay my current credit cards off so my score can continue to go up.

4.) Get increases on all my current credit/charge accounts.

5.) Goal cards to get are Chase Sapphire and Discover It.

Re: Your Goals For 2015?

junebug225 — Mon, 15 Dec 2014 05:07:38 GMT

Continue my rebuilding journey. Pay two charge off off with the hope of gw deleting at some point and refinance my car.

Re: Your Goals For 2015?

Anonymous — Mon, 15 Dec 2014 11:48:17 GMT

I just started my rebuild last month. I had two medical bills in collections and was able to get those deleted fairly easily.

Still have a few late pays (one past 60) on just one CC that is a business card which I'm a signer on. Not sure what can be done about that. It seems some people here have had success int getting late pays removed as a goodwill gesture? I need to look into that as they are not dropping off any time soon.

My utilization score is horrendous as I'm maxed out on all 3 of my CCs. So I'd like to get those paid down to between 1%-3% utilization.

One of my cards only has a $1500 credit line. Once I pay this down, I'd like to get a CL increase and do a low or no interest balance transfer to pay down a higher interest CC.

So those are my goals for 2015. I'd like to bust the 700 mark on my FICO, but not sure if that's feasible.

Re: Your Goals For 2015?

RA26 — Tue, 16 Dec 2014 05:49:08 GMT

Lots of goals for 2015. The first being smile a little more, stress a little less over my credit score. I am far away from where I want to be but I am making steps.

I plan on smiling as few medical collections will be falling off. Hopefully, PDFing the other ones listed.

Refinance the auto loan with my name on it and lower our payment. All about lowering our DTI next year.

Save, save, and save for a house down payment for 2016.

Re: Your Goals For 2015?

Ragelog — Tue, 16 Dec 2014 16:53:27 GMT

My 2014 was very busy and successful time is the only thing that will remove my Paid Judgement, Paid State (KS) Tax Lien and 1 charge off remaining from falling off my reports.

I started 2014 with $700 in Revolving Credit ($300 secured card with Capital One) & ($400 Walmart Card).

I started 2014 with 17.25% APR Auto Loan

I began 2014 with TU Fico of 600 and EQ FICO of 604.

I end 2014 with the following.

TU FICO 657, EX FICO 668, EQ FICO 683 & EQ04 FICO 706.

1.49% APR Auto Loan Refi via DCU

17,650.00 In Revolving Credit Line of which I should have 0 balance being carried as I pay off Christmas with my 12/31/2014 paycheck.

12,500.00 of it is with Major Credit card and only $500 of this is secured.

5,150.00 is various store cards (Walmart, Overstock & Fingerhut keeping Fingerhut for the free util I don't use it but figure why close it let it age)

My 2015 goals are:

1. Garden all year from Credit Cards or Lines (if life happens and I need to move or change cell phones etc I won't count that)

2. Continue putting money in my 401k possibly increase from 5%

3. AMEX 3x CLI February 13th

4. BOA Secured Card Graduation March 2015

5. Walmart CLI April 2015

6. Capital One Credit Steps Increase May 2015

7. Barclay Auto CLI June 2015

8. Hope for Chase CLI's and keep hitting my Comenity LUV Button monthly for Overstock.

Beyond that it is patience since Kansas Sucks and offers no way to have a tax lien removed early. I figure by 2017 when my reports are 100% clean I will have decent AAoA and little to no inquiries. I will then be able to get whatever card I choose at likely the best terms.

Maybe I need to find a different hobby in the mean time so time goes by more quickly.

Good luck on your goals many have made excellent progress.

Re: Your Goals For 2015?

Anonymous — Tue, 16 Dec 2014 17:50:49 GMT

For 2015 my goals are:

Pay off the balance of my last judgement ($1800)

Get my card balances reporting 0-9%

Get as many derogs off my report as possible.

Get my scores into the 600 territory so I can qualify for a VA loan

Re: Your Goals For 2015?

Anonymous — Tue, 16 Dec 2014 18:03:04 GMT

2015:
#1 Financial Resolution - Obtain a mortgage.

#2 - Build a larger emergency fund for house related emergencies.

2016 is going to be a "Buy Nothing New" year.

Re: Your Goals For 2015?

Anonymous — Wed, 17 Dec 2014 23:58:52 GMT

My goals for 2015 are:

1. Pay down 2 of my credit cards to under 10% utilization

2. Garden for year and let my current TLs grow

3. Reach a credit score of 700

4. Avoid having my current medical debt from being reported to the CRAs

5. Buckle down and spend less and save more.

2014 was the year for my career and finances now its on to my credit.