What are you doing to stay a head in the new FICO 08 release?

[Anonymous]

I never did the au thing so I think I'll fenifit from the FICO 08 thingy. I paid off my first auto purchase after my BK and landed 4.9% on the new car before the PIF of that car showed on CRs. Shopped everybody's teirs before I let one hard pull be done that landed that great rate so I only have two hard pulls showing in 2 years and will only need one more in the foreseable future. In May I aply for a second and very carefully selected CC. Other than that, I'm really emereging nicely from the depths of my 2002 chapter 7 and 2008 looks very nice indeed.

[Anonymous]

Which one is your very carefully selected CC if I might ask ..  Tks Vicki

[Anonymous]

I would say if you are an AU, you might think about using this time in the next few months to start your own tradelines. Your AUs will be gone and might loose your chance in the short term to get approved.

Credit cards build great scores in current release. If you have 0 installment loans, and 10 cards you might not gain as many points as you currently have. I read that 08 will weigh less on narrow credit types and consider other factors more evenly. Might be time to open an installment loan to gain history now. They take a long time to build history.

Then there are negative factors like new accounts and inqs that I read will not hurt as much. This is good!

Then again.... Who knows if any of this info I read is legit. I do have a source for some stuff. I didn't know what was scored strongly and lightly so I tried everything in the past year to hit my goal. I think I have a pretty good mix. I'm as ready as I can be. I will probably need to lean the sweet spots all over again for UTL.

http://finance.yahoo.com/banking-budgeting/article/104062/Default-Lines-The-New-Math-of-Credit-Score...

http://articles.moneycentral.msn.com/Banking/YourCreditRating/BuildAKillerCreditScoreIn2008.aspx

[Anonymous]

I'm not sure what CC I'll need. I don't need any more credit cards but from what I've learned here it would benifit me to have 1 or 2 more cards with low utilization so I think I'll research.

I got my first CC after BK just this last Sept. I've fixed my credit thus far with nothing more than paying off vehicles, adding zero badies and aging.

The CC I have is High interest and low limit but only carries a $59 annual fee and I thought I did well with that one for a first after a BK. I'm going to be pickier with the next one. Any advice?

[Anonymous]

I never even heard of the AU until I got here.

After I had to file chapter 7 I did not clain my motorcycle. I didn't know how important a choice that was at the time. I never missed a lick on it for the next 3 years. Bought a truck at CarMax at extremely high interest but wrecked it at 20 months. Never missed a lick on it. Been with State Farm for 25 years so accident was forgiven. Got my first CC 4 months ago. Charge up to $40 then pay off. Was able to get 4.9% on a brand new car last week. I want a couple new cards to round this program out.....all from things I've learner here.

I landed a new job 10 weeks after my BK that paid 3 times more than I've ever made before and I've been with it every sense and I've lived in the same place for 3+ years. I've been extremely lucky sinse my BK AND now I'm learning how to round out what I did by accident up until this point. I'm determined to get 700/720 before the 5 year old baddies drop off my report.

I'm never looking back.

[MidnightVoice]

I did it all last year - went joint on all the accounts DW and I needed to be joint on.

Other than that - fiscal responsibility and time!

[bamagirl1]

beenthere--

when did you file bk or when was it discharged if you dont mind me asking? i filed bk also discharged 0105, filed 0904..my question is if you know does the bk stay on your report from your file date or discharge? it must be file bc mine says drops off 2014 which would be 10 yrs from 09/04...

[thotgal320]

Changing my cell phone plan, changing cable package.  Do I need this or do I just want it?  Can I pay cash for it?  Just paid off a couple CC, also DV's,  PFD's, PIF's.  My oldest child moving out so should I downsize to one less bedroom?  See what these forums are doing to me anything to save money to pay off debt.  These forums have me asking what would the forums have to say about this?  LOL thanks guys.

[Anonymous]

Keep on keeping on, what I'm doing.....paying bills WELL before due date, keep utils below 20%(aiming at 5), lingerie drawer for all but 5 or 6 cc's to keep me from using them), NOT applying for any new credit, letting my existing cc's age.

[haulingthescoreup]

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