Disappointments

[lizmariposa]

Does anyone else feel the disappointment sometimes when you wait for your myFICO reports to come down, only to see that not much got updated and your score did not improve? A bunch of my stuff should've been reported as of May 7th, but only appears as such with one bureau... and then, well. It feels like it didn't matter. It didn't matter I paid down a loan $500, or paid down CC's quite a bit. Often I feel like these companies have way too much control over our financial futures and our ability to have access to things, and then I feel frustrated and angry. Like a poor person kept under poverty by the game, with a ruse of "things will be right, if you just play by the rules." Alas. I just keep plugging along... 

[spiritcraft1]

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@lizmariposa wrote:

Does anyone else feel the disappointment sometimes when you wait for your myFICO reports to come down, only to see that not much got updated and your score did not improve? A bunch of my stuff should've been reported as of May 7th, but only appears as such with one bureau... and then, well. It feels like it didn't matter. It didn't matter I paid down a loan $500, or paid down CC's quite a bit. Often I feel like these companies have way too much control over our financial futures and our ability to have access to things, and then I feel frustrated and angry. Like a poor person kept under poverty by the game, with a ruse of "things will be right, if you just play by the rules." Alas. I just keep plugging along... 

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I understand and have been there.  Things will improve though it is hard to see through the fog of today.

[Brian_Earl_Spilner]

Yes, that's why I paused my myfico subscription. That was just money I could have used to pay off debt. Instead it was demoralizing me. At this point I don't even look at my scores unless I want to apply for something. As long as I reach my end goal, I know they're going up.

[lizmariposa]

It feels like a ripoff of $42 some dollars when your current report is mostly April stuff, and not anything recent. Anf then one which DOES have more recent things, didn't move at all. "Oh, you're paying down your debt which is in good standing? Yeah, we don't care." 

[Anonymous]

This is kind of what I'm going through now. I feel like I've somewhat hit a plateau. Paid off our car loan last month and it our scores took a hit. Not huge hit maybe 9 pts (although still waiting on slow Experian to update it closed and PIF) But now I'm back under 600. Sooo much money spend on paying off collections (they were removed) and still under 600. I'm not exactly sure how to raise our scores now. 

[lizmariposa]

Yeah. It's hard when loans fall off. I had a lot of medical debt in collections, and they were generous enough to remove them when I paid them off. Mostly, what I've done is get a Credit Strong account. Which is like a CD to which you pay a small monthly amount, and then they remport it as if it were an installment loan. Once it's paid off, however, they give you all the money back with some interest. Mine's like $30 a month, but there's different options and payments, etc. I also got like a Capital One rebuilder credit card and put some small, dumb thing on it, to auto pay once a month. These little things have helped me, but it's a long road. Things improve a bit once late payments start getting older. But that won't be till like 5-7 years. I'm at a 3 year mark with one, and they still behave like it was a felony. lol 

But see, my May 3B report doesn't even have May data in it. They just left ALL the April stuff in there, and haven't even updated my scores, though all those things are reported as of 05/06. I really don't like how much power these bureaus have, and then they get lazy and drag their heels, and stuff. I have a student loan I should've probably paid off a decado ago. But now that I'm faithful with it, they just don't care. Sometimes they don't report for like two months or more on payments made. If I have to suffer the consequences of a negative mark for seven years, these companies should at least be held more accountable for their data, and creditors and companies for reporting dilligently and accurately. 

[Anonymous]

Research Dave Ramsey.....

But anyway, credit scores are a long journey, not a fast sprint. It can take several months for scores to even out after a big change. 

Having good FICO scores is a great goal and is helpful in life, but it is absolutely NOT necessary unless you're trying to get approved for more debt! You do not need a high score to have nice things. Save your cash, pay up front and your scores will improve over time. 

When I bought my first home, first vehicles, got a personal loan, etc... I had no clue how credit worked. Everything was approved instantly with excellent interest because my scores were near 800....One life catastrophe and a health emergency sent me into default on credit cards, scores dipped to low 500s.

It doesn't define me as a person or mean my life is ruined. It just means I have to recover for a few years and then be on my way again. 

[fishbjc]

My husband was at 555, now at 786.  Up, down, up down.  Just keep plugging along and improvement will come your way.

[BM1990]

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@lizmariposa wrote:

Does anyone else feel the disappointment sometimes when you wait for your myFICO reports to come down, only to see that not much got updated and your score did not improve? A bunch of my stuff should've been reported as of May 7th, but only appears as such with one bureau... and then, well. It feels like it didn't matter. It didn't matter I paid down a loan $500, or paid down CC's quite a bit. Often I feel like these companies have way too much control over our financial futures and our ability to have access to things, and then I feel frustrated and angry. Like a poor person kept under poverty by the game, with a ruse of "things will be right, if you just play by the rules." Alas. I just keep plugging along... 

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I feel your pain. I'm currently going through the same thing. 

[Trigunn423]

Yes I can relate. Feels like two steps forward and 2.5 back at times. 

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@BM1990 wrote:

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@lizmariposa wrote:

Does anyone else feel the disappointment sometimes when you wait for your myFICO reports to come down, only to see that not much got updated and your score did not improve? A bunch of my stuff should've been reported as of May 7th, but only appears as such with one bureau... and then, well. It feels like it didn't matter. It didn't matter I paid down a loan $500, or paid down CC's quite a bit. Often I feel like these companies have way too much control over our financial futures and our ability to have access to things, and then I feel frustrated and angry. Like a poor person kept under poverty by the game, with a ruse of "things will be right, if you just play by the rules." Alas. I just keep plugging along... 

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I feel your pain. I'm currently going through the same thing. 

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