topic Re: Rebuilding with Progress in Rebuilding Your Credit

Rebuilding with Progress

Creditbuilder36 — Wed, 09 Mar 2022 18:13:37 GMT

It's been exactly a year since I posted in this group and I have made some good progress.. over the past 2 years I've doubled my income ... I have paid off all but 3 of the 34 cards I had with commenity bank ... paid of 10,00 worth of debt From working hard with my current income .. I'm down to 1inquiry on my Transunion 2 on my Equifax which will fall off this month ...

No hard pulls

im looking to get a consolidation loan with my local credit union but I'm trying to wait until my utilization get a bit lower it's now at 60% and I just made another round of payments on my current cards

my goal by the end of this month is to pay 2 of the 3 remaining cards of and focus on the others until I can get the loan

Re: Rebuilding with Progress

RSX — Wed, 09 Mar 2022 18:23:56 GMT

thats great news and great work - kudos to you

have you started closing any of those 34 accts yet?

i would start closing a couple of the really small ones, so that it wont affect your utilization

then when you get the Loan, i would close another round of 5-6 cards - and more every 6 months until you get down to a comfortable amount

this will give you less to manage and less to respend on...

again - Congrats!

Re: Rebuilding with Progress

Creditbuilder36 — Wed, 09 Mar 2022 18:43:26 GMT

I never thought of that thank you some of them have closed on thier own but I will work on closing the rest little by little Im taking credit so much more seriously now then a few years back when I was opening cards just to open them 🤦🏾‍♀️