Hello everyone. I'm new to the site. Love it! This site is so empowering!
The back story:
I found myself now trying to rebuild my credit after a car accident last year that left my very paid off car, totaled. 
When I tried to get a loan from my CU, they couldn't get a score from EQ - the system returned a zero. Yep. A big fat ZERO! 
Went home in shame. Called EQ the next day, After blah blah blah...ordered CR - blah blah blah - can't get a credit score (huh?).
Crawled back to my CU. They agreed to give me a loan based on my long customer standing. Imagine that! - a loan based on my relationship with them and a credit score of ...uh...zero (still find that funny)!... But being a bank - the loan was given at a whopping almost 10% (yikes)!... and I was grateful to get it! LOL.
Fastforward...
After making two car payments, in Aug 2015 I requested a CR from EQ... score: 687 (based on Fico 5). I liked it much better than a zero. 
The CU said that EQ will return a zero if there's no recent activity for 3 years. Not sure if that's true, but I didn't have any recent activity, so maybe so.
Having a car loan at 10% interest rate was a "no can do" scenario for me. The CU said I could refinance in 6 months, but they would ding me 1K for the privilege of doing so. I made it my goal to pay off the loan in 6 months... and did just that! The loan was paid of by mid Dec 2015. I couldn't believe that I paid off a 16K loan in 6 months. Now I felt invincible. I was so proud of myself... and thinner from eating beans and rice for 6 months, but hey..whatever it takes, right?
Feeling invincible, in Feb of this year, I applied for a Discover card as I heard that it included the Fico score on the statement. Cool. I was turned down in 10 seconds flat! 
Took off that invincible cape I was wearing so proudly and put back on the cape of shame.
A week or so later, I got a letter from Discover indicating why I was turned down. Basically... your credit sucks and your score is 657. Huh? I wondered, why did it go down. I only applied for that one card and just paid off a 16K loan in 6 months - every payment on time plus some.
A day or two later, went to my CU. They showed me some luv 
and gave me a Plantinum Visa CC - not at the limited *I* wanted but I only needed to remember the turn down by Discover some two days earlier - took the card and ran. Was grateful to get it.
It was this ordeal that started my "accidental" credit rebuilding process.
First, I started using the card the way *I* thought I needed to build my credit. Started off paying the balance off each month - did this for two months in a row. Checked EQ score - back up to 687. Whoo hoo. Threw off my cape of shame - and put back on my Super-hero cape of invincibility.
...Then I got clever...
Charged up the card, but made sure that I paid on-time and much more than the minimum payments. Did this for 4 months. Check my score in Aug - down to 667. wth?! Threw off the super-hero cape *permanently* as it was clear I didn't have a clue what to do to bring my scores up.
...Then I got a clue...
Last month - started doing some research - poking around the internet - and somehow was lead to myFico.com. What a blessing! No more wandering in the dark wondering what I need to do. And from what I read so far - EVERYTHING I would have done, would have only hurt my scores.
I learned from this site, that my UTIL was way too high - so I immediately conjured up a plan last month to pay it down over 4 months. I first implemented this plan last month and lowered by UTIL by 25%. I checked my score at the end of Sept., it was 699 (EQ Fico 5 score). Whoo hoo!
The simulator show I should get a 50-60 point jump when it's all over. I hope it's right - or atleast close.
Since my CU used EQ, I tend to focus more on that score, but I am working on all three of the CB on other issues. The short term goal (about 1 yr) is to be atleast at 740. This is the minimum score my CU requires to receive their lowest interest rate for a mortgage. But the mortgage is not the end game. 
I would love to reach 800 by 2020. Don't know if that is even possible because I have several baddies on my report - two which are likely here to stay until atleast 2020: a car loan from BofA - of which I was late 3 times due to 2 years of unemployment and ex not paying alimony (ugh). The other is a tax lien - again ex said would pay -but didn't so I ended up paying it (ugh...ugh).
The others, I *may* be able to get off the report as they are incorrect - all of them are Student Loans (ugh). All of the student loans were paid off early 2013, but CBs show incorrect late payments - I was never late on them and *think* I may have finally found some proof, but I don't know if it will be enough proof. I just put them in dispute, so I will know by the end of the month.
Worse case scenario, I should be in the clear in 2020 for all of these if the disputes are rejected. Wish me luck!
I know this was long - but kinda wanted to log my journey on this site. Regardless if I ever reach the 700 club...yet alone the 800 club, I am so proud of what I have been able to accomplish. But more than that, I am so grate for the knowledge that is shared so freely and openly by all who contribute. I hope that I will be a useful contributor one day.
I'm open to any suggestions regarding getting the baddies off of my report, so feel free to share (as I know you will ).
What a wonderful rebuilding story! Congratulations on your journey. You aren't the only one that started their journey because of the credit score craziness. I had no idea, before I came here, that high utilization - even with a perfect payment history - tanks your score. For years I couldn't understand it. I thought perfect payments and early payoff's of installment loans would make me a good customer and not risky, little did I know. 
Congrats, you are well on your way to high scores and from your post, I think you will get there before 2020 
Congrats on your journey. Taught the same as well to make payment and not worry about UTIL. Boy was I wrong. Life hands you lemons: and you may have missed payments;charge offs;etc. This forum is my flashlight and Inhale been on here more than other browsing sites. Keep up the good work.
This is a great site. Went from learning about credit, building up to a good score, then back down to chapter 7 bankruptcy, and now I'm rebuilding but I'm doing it the right way.
As long as you can get back up that is key.
@StartingOver10 wrote:What a wonderful rebuilding story! Congratulations on your journey. You aren't the only one that started their journey because of the credit score craziness. I had no idea, before I came here, that high utilization - even with a perfect payment history - tanks your score. For years I couldn't understand it. I thought perfect payments and early payoff's of installment loans would make me a good customer and not risky, little did I know.
Congrats, you are well on your way to high scores and from your post, I think you will get there before 2020
Thank you. Before reading the posts on this site, UTIL to me meant utilities. LOL. Yep, didn't have a clue. This credit thing is so counter-intuitive! Knowledge is power...but only if you use it... and this site is full of knowledge which I plan to use.
@Blackswizz750 wrote:
Congrats on your journey. Taught the same as well to make payment and not worry about UTIL. Boy was I wrong. Life hands you lemons: and you may have missed payments;charge offs;etc. This forum is my flashlight and Inhale been on here more than other browsing sites. Keep up the good work.
Thanks for your encouragement. "Life hands you lemons..." boy if that isn't right!
Sometimes, things happen in life that are just out of our control. I hate that I have some baddies on my CRs that couldn't be helped, but this site has shown me that just because you're down now doesn't mean you have to stay down. There is hope to improving things. You just have to do what you can...and what is out of your hands...time will take care.
@Blackswizz750 wrote:
As long as you can get back up that is key.
So true. It's so important to always try to learn from our mistakes and to be proud of our accomplishments. We all have different paths, different circumstances. Although I may have a goal of joining the 700 club -- or 800 club, I am very proud of any improvements made on my CRs - be it just cleaning it up to have things reported be accurate, or getting that 2 point jump in the score due to a small change made in my credit behavior. Just learning about how to improve my score is fun. myFico.com and all the contributors on this site are "precious" to me.
I hear ya.I have went from 487 TU, 493 EQ, and 505 EX in July 2015. I found this out when I purchased my new car then. I end up paying thousands down to get my car. I stumbled on ck and started disputing baddies and some fell off due to sol. When I got on here, I just soaked up so much info and strategy. There are thousands on here for your situation.