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As we approach the holidays, the stress of overspending can be tremendous. What steps are you taking so that you ring in the New Year not drowning in debt? What new ideas or plans do you have so that 0% promos don't sway you away from your goals? If you have a plan or strategy that you would like to share, please do!
I know you are all hard at work with your credit goals. Have you progressed as far as you hoped? Were there any unforseen expenses that cropped up and may have thrown you off schedule?
As a reminder, participation in these monthly check-ins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. This is a no-judge zone; feel free to say what's keeping you up at night or give yourself a kudo for having it all together.
Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?
Let us know how you're doing!
What have been your biggest accomplishments
and obstacles so far in the myFICO Fitness Challenge this year?
Ok December. Let's get started.
So, I admit that I went a little crazy last month. I needed and leased a new car. Technically, I should've paid cash for an older model and been done with it but no. I had to go for a new Lexus. Ah well. Can't beat myself over that now. But, immediately afterwards, I went on an app spree and am now trying to manage SUB requirements. So far, so good tho. I have a total of $5k spend requirement in 90 days and figure I'll just run my bills through them. Buuuuuut, the cards with the SUB are Amex cards and not all of my bills can be paid via Amex. So, I've decided to run a few of my business expenses through and just do an expense report for reimbursement. That takes care of that.
My scores, now that the dust has settled are:
EQ: 748
TU: 755
EX: 727
I hoped to be 760 across the board by the end of 2017 but, I don't see that in the cards. I'd be thrilled if I could get 2 out of 3 so. that's where I'll set my goal for this month. FICO simulator says that I'll be 769, 755, 741 if I just pay my credt card bance down by $159 (I'm at 2% Ut right now. How accurate do you think that is? I could settle for that. And of course, there will be holiday spending so, I guess I need to factor that in somehow. Also, I don't think my car is showing up yet so, yikes. Oh, and I need to replace the hood on my car. Don't even ask. I'm not happy about it. So, that's an additional expense along with insurance on the vehicle.
On a good note, I'm excited to have gotten my $300 in airline gift certificates from the Amex airline credits benefit. Next month, I'll grab the other $300, having platinum and gold this first year at no AF. Figuring that out was definitely on my to-do list.
I'm sure I'll have stuff to add to my goals list for this month. I'll come back later.
Super excited to join the 700 club finally! No idea why TU jumped from 695 to 701 but assuming either it's some inquiries from May finally losing some punch, or maybe my installment loan is finally old enough to recover a bit of FICO ding.
Won't do a 3B pull until December 20th when everything reports again, but still pretty excited to see 700s even though it doesn't mean anything versus that 695 that was lurking.
Really weird to me that EX is 710 with no derogatories whatsoever, but TU is 701 with an unpaid tax lien reporting. I have to go over things with a fine toothed comb to figure out what's keeping EX back so much. FICO simulator (which we can't trust) shows me at 795 for EX and 789 for EQ in 24 months, but only 720 for TU with that stupid lien still reporting. Disputes have been no-go so CFPB is next to see what can happen. I live in a state where EVERYONE pulls TU every time, so of course it's frustrating that TU is the one still showing that lien.
My December goals have nothing to do with credit -- I just paid off a $10,000 unreported tax situation in full to avoid a new lien (lots of court dates and arguments and me using really improper terms for the tax folks in front of the tax judge who laughed often and seemed to agree with me).
This entire month I am basically in the Caribbean except for 5 days I'll be at home winterizing and making sure it stays winterized, so I don't have a lot of "real life" to deal with, but my to-do list for December 2017 is:
Nothing else on my to-do list. Pretty boring actually. 2018 is going to be just as boring -- just want more CLIs so I an get over $10,000 so I can hope to get CSR at some point. Amex Plat, CSR in 2018 if I can, and then try for some awesome 3% card for 2019, and I'd say I was done with my rebuild.
I'm new here. so why not make my first post the december check in.
i'm currently trying to grow my score.
@ohjoy wrote:Ok December. Let's get started.
So, I admit that I went a little crazy last month. I needed and leased a new car. Technically, I should've paid cash for an older model and been done with it but no. I had to go for a new Lexus. Ah well. Can't beat myself over that now. But, immediately afterwards, I went on an app spree and am now trying to manage SUB requirements. So far, so good tho. I have a total of $5k spend requirement in 90 days and figure I'll just run my bills through them. Buuuuuut, the cards with the SUB are Amex cards and not all of my bills can be paid via Amex. So, I've decided to run a few of my business expenses through and just do an expense report for reimbursement. That takes care of that.
My scores, now that the dust has settled are:
EQ: 748
TU: 755
EX: 727
I hoped to be 760 across the board by the end of 2017 but, I don't see that in the cards. I'd be thrilled if I could get 2 out of 3 so. that's where I'll set my goal for this month. FICO simulator says that I'll be 769, 755, 741 if I just pay my credt card bance down by $159 (I'm at 2% Ut right now. How accurate do you think that is? I could settle for that. And of course, there will be holiday spending so, I guess I need to factor that in somehow. Also, I don't think my car is showing up yet so, yikes. Oh, and I need to replace the hood on my car. Don't even ask. I'm not happy about it. So, that's an additional expense along with insurance on the vehicle.
On a good note, I'm excited to have gotten my $300 in airline gift certificates from the Amex airline credits benefit. Next month, I'll grab the other $300, having platinum and gold this first year at no AF. Figuring that out was definitely on my to-do list.
I'm sure I'll have stuff to add to my goals list for this month. I'll come back later.
Ok. Moving into week 2, my TU score is now 760. Now to get the rest of them up. I usually pay off all of my balances but had still been carrying a balance on my NF Cash Rewards card, basically forgetting that my brother's card, for which I'm an AU usually carries a balance. AND, now spreading my spend across 3 new cards that require it for points, I've made sure that I've paid everything down to zero so that my brother's card will be the only one with a balance. It's sitting at 8%, barely making it for what I'd like but, hey. I can't require him to make any moves so, I'm hoping this will be good enough to grab me more points for years end. So, I'm looking forward to all of my accounts reporting for this month.
Also, in other threads, I talked about my Navcheck being lower interest thatn my NF CC. And wanting to rack up my required spend for points quickly and also plan for Christmas spending. Someone recommended that I open a PenFed and grab a zero percent card. So, I opened a PenFed account and applied and was declined. Too many recently active accounts, whatever that means. I'm going to call for a recon and explain that I'm looking for a 0% specifically and all my accounts remain PIF. No lates, no baddies and my score for them was 755. Yes, I did just do an app spree but, I mostly got credit cards. AND, I have 23 inq on my EQ but, that's from buying a car and leasing a car. C'mon! Anyway, when I first rec'd the decline, I had pangs of my lower score days in my gut. But, in reality, I'm reconning with some pretty decent scores. Meh. Let's see what happens. It's worth a try. Wish me luck!
But seriously, what's up with EX. They dropped me down to 727 and don't appear to be interested in moving. That's a long way to 760 with a reluctant CRA. Ah well. I'm still hoping for a Christmas miracle. I think I'll do some researching and see what makes EX happy.
Welp! That's all I have for now. Wishing everyone a successful month!
@ohjoy wrote:
@ohjoy wrote:Ok December. Let's get started.
So, I admit that I went a little crazy last month. I needed and leased a new car. Technically, I should've paid cash for an older model and been done with it but no. I had to go for a new Lexus. Ah well. Can't beat myself over that now. But, immediately afterwards, I went on an app spree and am now trying to manage SUB requirements. So far, so good tho. I have a total of $5k spend requirement in 90 days and figure I'll just run my bills through them. Buuuuuut, the cards with the SUB are Amex cards and not all of my bills can be paid via Amex. So, I've decided to run a few of my business expenses through and just do an expense report for reimbursement. That takes care of that.
My scores, now that the dust has settled are:
EQ: 748
TU: 755
EX: 727
I hoped to be 760 across the board by the end of 2017 but, I don't see that in the cards. I'd be thrilled if I could get 2 out of 3 so. that's where I'll set my goal for this month. FICO simulator says that I'll be 769, 755, 741 if I just pay my credt card bance down by $159 (I'm at 2% Ut right now. How accurate do you think that is? I could settle for that. And of course, there will be holiday spending so, I guess I need to factor that in somehow. Also, I don't think my car is showing up yet so, yikes. Oh, and I need to replace the hood on my car. Don't even ask. I'm not happy about it. So, that's an additional expense along with insurance on the vehicle.
On a good note, I'm excited to have gotten my $300 in airline gift certificates from the Amex airline credits benefit. Next month, I'll grab the other $300, having platinum and gold this first year at no AF. Figuring that out was definitely on my to-do list.
I'm sure I'll have stuff to add to my goals list for this month. I'll come back later.
Ok. Moving into week 2, my TU score is now 760. Now to get the rest of them up. I usually pay off all of my balances but had still been carrying a balance on my NF Cash Rewards card, basically forgetting that my brother's card, for which I'm an AU usually carries a balance. AND, now spreading my spend across 3 new cards that require it for points, I've made sure that I've paid everything down to zero so that my brother's card will be the only one with a balance. It's sitting at 8%, barely making it for what I'd like but, hey. I can't require him to make any moves so, I'm hoping this will be good enough to grab me more points for years end. So, I'm looking forward to all of my accounts reporting for this month.
Also, in other threads, I talked about my Navcheck being lower interest thatn my NF CC. And wanting to rack up my required spend for points quickly and also plan for Christmas spending. Someone recommended that I open a PenFed and grab a zero percent card. So, I opened a PenFed account and applied and was declined. Too many recently active accounts, whatever that means. I'm going to call for a recon and explain that I'm looking for a 0% specifically and all my accounts remain PIF. No lates, no baddies and my score for them was 755. Yes, I did just do an app spree but, I mostly got credit cards. AND, I have 23 inq on my EQ but, that's from buying a car and leasing a car. C'mon! Anyway, when I first rec'd the decline, I had pangs of my lower score days in my gut. But, in reality, I'm reconning with some pretty decent scores. Meh. Let's see what happens. It's worth a try. Wish me luck!
But seriously, what's up with EX. They dropped me down to 727 and don't appear to be interested in moving. That's a long way to 760 with a reluctant CRA. Ah well. I'm still hoping for a Christmas miracle. I think I'll do some researching and see what makes EX happy.
Welp! That's all I have for now. Wishing everyone a successful month!
Welp! TU giveth and TU taketh away (and EQ too, btw). The 5 pts from TU went poof, along with 5 pts from EQ. This is because my Navy Amex was added ($15K SL with $302 balance). I wasn't sure when it would report and CSR estimated due date at the end of the month. So, the balance reported slipped past me. No biggie. After doing some reading, I found that in using the AZEO method, the account carrying the balance should not be the AU account (as planned in my last post). So, this $302 will serve as my one reporting balance. I've paid it off since.
As for the PenFed recon, the CSR didn't help much and was rushing me. I asked that she transfer me to sr loan officer or have him call me back. To date, no return call. But, I did get the survey over the weekend and expressed my displeasure there. So, maybe someone will call me back after that. But really, I'm over it. I really don't need a new account added. I plan to just try for a cli on my Discover and use that 0% promo. After that, I'm going to pick up a shovel and head over to the garden. Oh, I've said that before and it's hard to sit down but, I think 6 months should do me well and allow me to grow what I have.
I am trying to build my score and pay down my UT. Due to lots of travel, and buying a new home and needing appliances, etc, I am at 90% UT!!! $%^$%!!! Not good. I just paid off my Delta Amex which was $3000. That should bring me down to 60% UT. I need to pay off my Barclays which I used to buy a Macbook Pro for work ($3000). My husband is not very financially savvy or a good saver so its like talking to a wall trying to explain how this works. He pays bills and will begrudgingly save but its not a priority for him so thats a bit frustrating.
Goal: Pay off my cards in 2018 and enjoy this trip to Rome I'm going to in May (booked with points!)
we finally closed our home refi last month with a local CU and got away from CitiMortgage. we also refid a small car loan (that we've had since early 2014) thru the same CU as well as bought a gently used Jeep last month and have that loan thru said CU. our Z06 will sell in the next week. we're looking forward to being able to save more in 2018. no new cards. for now, trying to get the utilization on my 3 cards to 9% or less. my average is 11% at this time. good luck to my fellow challengers. may you have a peaceful holiday season
Late reply (again); still holding steady with the credit plans since everything is up in the air right now. Basically taking a month off before I start looking for work again, about halfway through it and starting to finally feel clean again after the swamp that was my last gig.
Most of the major changes to my credit happened already, this was a really good year for me (knew it was coming but it was a long road); doesn't look like I'm going to quite make my FICO 8 target but I coming so close anyway I can't rationally complain.
At this point I'm just getting squeaky clean as these are the last things I can deal with in the near future before things like a new mortgage might be needed.
Dec 2017:
Two inquiries off Experian - 1 left
Jan 2017:
One inquiry off Experian - 0 left
Feb 2018:
I hit AAOA of 4 years
1 inquiry off Equifax - 0 left, 0/0/0 for scorable inquiries, just a truly dumb 30D late on TU as my only blip, well that and short credit history and installment utilization haha, can't come up all aces even in the credit world I guess for a while longer.
Hope everyone's doing most excellently!
This has been an epic journey thus far this year with the world of credit. As I close out the month of December things had been gong really well.
Here are a few of my accomplishments.
1. Total credit lines were increased totaling 42.2K with 33.1K available. That roundout to about a UT of 21%. My UT was at 69% in April when my credit lines totaled 18K.
2. The debt at the moment are
Credit Card: $9073.93 ($500 extra on top of monthly payments. Will most likely reduce when assuming mortgage)
Car Note: $10125.00($300)
Signature Loan: $3,103($225)
3. Applied and received a pre-qualification for a home loan mortgage for 270K. This was done in the month of July when my mid-score was 621. I signed my contract and placed a deposit for pre-sale with a builder. On 15 December official applied for home loan with a mid-score of 653. Got the automatic approval and lock in my rate for 60 days for a 3.75% 30yr VA Loan. Submitted required paperwork and $600 appraisal fee. Received my Loan Disclosure. (Loan $267,989) unofficial pending taxes, appraisal etc. Awaiting the decision from the underwriters….Pray for me. Closing should be on Jan 12, 2018. I will keep everyone updated.
My score today are:
EQ: 687
TU: 705
EX: 692
The 700 club is on the horizon.
Lastly, once I close on the house. The only major purchase will be furniture for the house. My spousal unit wants all new furniture. So I plan on selling what we have now to offset the cost. Still not decided if I’m going to spend cash or apply for an account with a furniture store.