@Wolfeyy wrote:Hello MyFico,
(Mod I apologize if this is not the right forum to post in, I felt it was the most appropriate. However, please move if it is not. Thank you and sorry for the inconvenience.)
I’m Wolfeyy and I’m here to share my journey/timeline of my experience since I joined on 1/08/2016. So starting off I had a thin file for the longest time at 20yrs old. My sister knowing I’ve been looking around for a car asked what kind of car I wanted. I told her I am looking to get a Mini Cooper. I think there pretty cool. So she went out of her way and cosigned a car loan for me so I could get to and from work more easily. I’m very thankful for her doing that. Got approved of course and drove out that day with a new 2014 Mini Cooper base w/upgrades for 31k.
(Side note: Looking back now had I known she was going to get me any car under 40k and been more knowlegable about this stuff. I would have prolly chose something around 15k. Again at this time I just wanted a “Cool” car and I had a lot of expendable income..)
This is what activated my “credit file”. From then on I joined CK to monitor my “report” and then recently join MyFico to “monitor and nurse my score” to where I want to be later in life. Also payment history is perfect.
So it begins…(Some dates might be off by a couple days or so. They will get updated as I remember as stuff. )
My short term goal: Possibly close Home Depot card, and Paypal Credit and Lenovo Preferred card.
My mid term goal: Get CC CL to 10k to 20k each and get that PenFed PLOC.
My long term goal: To get a house before age 30(I’m 21 now) in cash for the most part at least the land portion. Be debt free by 40. Then actually “live life how were meant to without debt” (aside from utilities and what not) w/ a part time gig.
00/00/13 - Thin file
9/16/14 - Auto loan acquired.
9/16/14 through 1/00/15 - Scores somewhere at low 600s
00/00/14 - Paypal Credit acquired at some point at $1,000 CL
8/3/15 - CapitalONE QS1 acquired at $300 CL
8/3/15 - CapitalONE Platinum acquired at $300 CL
11/17/15 - Lenovo Preferred Card acquired at $1,200 CL
1/8/16 - Joined myFico ( I actually lurked on this site before I got my cap1s just never joined. )
1/8/16 - Barclaycard Rewards acquired at $500 CL
1/8/16 - Citi Double Cash acquired at $1,000 CL
1/8/16 - Discover acquired at $1,000 CL
1/12/16 - CapitalONE QS1 CL increased by $100
1/12/16 - CapitalONE Platinum CL increased by $100
3/1/16 through 3/24/16 Scores around 680s
3/15/16 - Home Depot card acquired at $500 CL
( I don't know why I bothered with this. I was getting a new water heater for the house as the old one busted and there was water all over the garage. My grandpa didn't have the money at the time as he just paid for the mortgage and stuff so I offered to get it. They said I could save like $50 if I apped for the card and put the purchase on there so I did. -_- The CL was too low a limit as the water heater was around $850 so I put it on my discover in the end... which is what I had planned on doing this whole time. I regret every second of it. )
3/1/16 through 3/24/16 Scores drop around 650s (High utilization)
4/1/16 through 4/24/16 Scores raise back up around low 700s
4/11/16 - Amazon store card acquired at $1,500 CL
4/15/16 - Joined Pentagon FCU but denied for PLOC and CC
4/15/16 - Pentagon FCU credit department manager called and told me that she saw I gave them a score of 10s across the board so she was confused as to why I got denied for a PLOC and CC. Said she wanted to review my application manually to see if she could help me out and call me back. So, she called back around 30mins later and said the listed income was $200. Is that correct? I told her no, My income is $1,500 to $2,000. I guess the guy I apped with over the phone misheard. She said that was the reason for the instant denial. She corrected it and approved me for the CC at $2,500 but the PLOC she said I’d have to build some history with them. I told her that was fine and thanks so much for reaching out, this has really helped me out. All is well now.
4/22/16 - Amazon store card increase to $5,000 CL (Finally received the card in the mail and called over phone immediately for CL increase)
5/1/16 - Scores sitting around 690s to 700s
5/3/16 - Discover IT luv button SP CL Increase by $1,000
5/19/16 - 3 Inquires have fallen off this week
5/25/16 - Lenovo Preferred Card CL Increase by $200 -__-
6/24/16 - 1 Inquiry has fallen off
6/24/16 - All scores a little over 700 now - Stabilized and utilization below 10%
6/29/16 - Barclaycard Rewards auto CLI to $1,500
6/29/16 - Opened a Simple Bank account for my house saving goal
7/1/16 - 1 Inquiry has fallen off
7/2/16 - Citi DC luv button SP CL Increase by $1,300
7/31/16 - CapitalONE QS1 SP CL increased by $750
8/1/16 - Discover IT luv button SP CL Increase by $2,500
8/1/16 - All scores a little over 730 now
9/15/16 - 2 Inquiries have fallen off this week
9/17/16 - Discover IT luv button SP CL Increase by $500(2 Day message)
That is everything thus (a lot of denials along the way as well ) far. I will update my journey as time goes on..
I agree with most of your goals, except the long term goal of living without debt. When that is possible, that is the time to make credit work for you. At that time you start taking full advantage of credit card companies bonus sign-up offers, 2% cash back, extended warranties, and such...just always PIF, and make money off of credit. As long as the greed of credit card issuers leads them to keep offering these enticements, I intend to take full advantage of them and never pay them 1 cent of interest.