I am new to the myFico community. A little back history - I am almost 34 ,but when I was 19 I let my credit hit the crapper when I defaulted on some CC's (Discover won a judgement against me) and I defaulted on my student loan. I paid off all the credit cards. Then at about 23/24 I got a First Premier (HUGE mistake) never used it, but never sent in the security and was considered defaulted on that as well. Basically I let my credit go twice. In the past 5 years I finally paid off (I let the judgement fo for a long time, but finally paid it as i was told that judegements do not fall off the cr after 7 years like other things do) everything. I was able to get an Orchard Bank CC ($500) in 2010 and an Old Navy ($2200) and a OSP store card ($250) in 2011. Not understanding about utilization I did use close to the limits on both cards, but I have never missed a payment. This year I paid off both cards. I also had a problem with T-Mobile charging me extra last year so while I was arguing the bill it went to collections. I got better results with the CA, negotiated, and paid that off as well. I joined a local credit union 6 months ago and two months ago they sent me a preapproval for their cc, but I shredded it thinking no way would I be approved. Last week they sent me another preapproval and I decided to go for it since everything was paid off and I was approved for $3500! I aslo tried for cli for OSP (now $450) and Old Navy (declined). The shopping cart trick also worked for the Avenue ($500). I do not really plan on using any of my cards, but from what I have read I do want to utilize 1-9% on one of my cards and put the rest in my sd to increase my credit score. I am hoping to try for a mortgage in 6 months and i'm really hoping for a good interest rate. I joined myFico last month and since then my score has gone from 640 to 694, but I am still waiting for some agencies to report activity. I am trying to get my score above 720 (short term goal). Any advice? I do not have any installment loans either. Thanks in advance!!!
Starting Score: 650
You're doing a pretty good job!
My advice. Take a good look at your CR. Anything that's bad and paid. Send a GW to. It just costs a stamp.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.