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December 2019 Check In Thread

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Re: December 2019 Check In Thread

Testing...Testing

Starting Score: 643
Current Score: 643
Goal Score: 675


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Message 21 of 36
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Re: December 2019 Check In Thread

Check-in post.

Starting Score: 643
Current Score: 643
Goal Score: 675


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Message 22 of 36
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Established Member

Re: December 2019 Check In Thread

check-in post

Starting Score: 643
Current Score: 643
Goal Score: 675


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Message 23 of 36
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Moderator Emeritus

Re: December 2019 Check In Thread


@Revelate wrote:

@Dinosaur wrote:

Well finally my Fico 8 Scores returned to 850 (three month drop due to taking on $690 BT and loosing an old closed account off of my CBs)! Also, after twenty-five statements FNBO (upon my call) increased my credit limit by $5,000 with no inquiries. Gardening works. Smiley LOL


Shine bright like a diamond!

 

Haven't really been keeping track but I think I got a clean datapoint of 3 -> 1 inquiries on EQ FICO 5 +12 so yeah, when every point matters gardening is absolutely the way to go.

 

Surprisingly to me I'm only 20 points away from the real world max on EQ FICO 5 now and that's with some blemishes too.  Will see what the reason codes are with my annual pull in a few days but it's interesting to me anyway given how much that score HATED me when dirty, and now it's one of my best when clean. 

 

Nothing really to report for December except the inquiries fading to gray and prettying up my report for 1/1/2020 pull to ring in the new year.

 

Hope everyone's holiday is excellent and see you on the flip side!


@Revelate You mentioned EQ Fico 5 Credit Scores ... never heard of it? Any background on it and source of the score? All new to me. Wonder if it impacts me somewhere?

Starting Score: 300
Current Score: 824
Goal Score: 850


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Message 24 of 36
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Moderator Emeritus

Re: December 2019 Check In Thread


@Dinosaur wrote:

@Revelate wrote:

@Dinosaur wrote:

Well finally my Fico 8 Scores returned to 850 (three month drop due to taking on $690 BT and loosing an old closed account off of my CBs)! Also, after twenty-five statements FNBO (upon my call) increased my credit limit by $5,000 with no inquiries. Gardening works. Smiley LOL


Shine bright like a diamond!

 

Haven't really been keeping track but I think I got a clean datapoint of 3 -> 1 inquiries on EQ FICO 5 +12 so yeah, when every point matters gardening is absolutely the way to go.

 

Surprisingly to me I'm only 20 points away from the real world max on EQ FICO 5 now and that's with some blemishes too.  Will see what the reason codes are with my annual pull in a few days but it's interesting to me anyway given how much that score HATED me when dirty, and now it's one of my best when clean. 

 

Nothing really to report for December except the inquiries fading to gray and prettying up my report for 1/1/2020 pull to ring in the new year.

 

Hope everyone's holiday is excellent and see you on the flip side!


@Revelate You mentioned EQ Fico 5 Credit Scores ... never heard of it? Any background on it and source of the score? All new to me. Wonder if it impacts me somewhere?


@Dinosaur you're just having a brain fart bud Smiley Happy.

 

EQ FICO 5 is the name FICO normalized to for EQ FICO 04 or EQ Beacon 5.0 if being truly technical: the Equifax score used for 99.99% of the mortgages in the US as that's what the GSE's dictate.

 

It happens to be the first FICO score I had access to regularly with DCU and since it's one of the mortgage scores which are really the only credit scores I worry about (not the best terms on a credit card cause FICO 8 not awesome who cares?) and so I use it as one of my benchmark scores.




        
Message 25 of 36
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Moderator Emeritus

Re: December 2019 Check In Thread


@Revelate wrote:

@Dinosaur wrote:

@Revelate wrote:

@Dinosaur wrote:

Well finally my Fico 8 Scores returned to 850 (three month drop due to taking on $690 BT and loosing an old closed account off of my CBs)! Also, after twenty-five statements FNBO (upon my call) increased my credit limit by $5,000 with no inquiries. Gardening works. Smiley LOL


Shine bright like a diamond!

 

Haven't really been keeping track but I think I got a clean datapoint of 3 -> 1 inquiries on EQ FICO 5 +12 so yeah, when every point matters gardening is absolutely the way to go.

 

Surprisingly to me I'm only 20 points away from the real world max on EQ FICO 5 now and that's with some blemishes too.  Will see what the reason codes are with my annual pull in a few days but it's interesting to me anyway given how much that score HATED me when dirty, and now it's one of my best when clean. 

 

Nothing really to report for December except the inquiries fading to gray and prettying up my report for 1/1/2020 pull to ring in the new year.

 

Hope everyone's holiday is excellent and see you on the flip side!


@Revelate You mentioned EQ Fico 5 Credit Scores ... never heard of it? Any background on it and source of the score? All new to me. Wonder if it impacts me somewhere?


@Dinosaur you're just having a brain fart bud Smiley Happy.

 

EQ FICO 5 is the name FICO normalized to for EQ FICO 04 or EQ Beacon 5.0 if being truly technical: the Equifax score used for 99.99% of the mortgages in the US as that's what the GSE's dictate.

 

It happens to be the first FICO score I had access to regularly with DCU and since it's one of the mortgage scores which are really the only credit scores I worry about (not the best terms on a credit card cause FICO 8 not awesome who cares?) and so I use it as one of my benchmark scores.


@Revelate... hey! Thanks for the bail out! Yeah, a "brain fart it is"! EQ Beacon 5 and EQ Fico 04 ... lost my way? Appreciate being put right side up back on the track! Smiley Happy One of the banks I have dealth with even uses it for loan scoring!

Starting Score: 300
Current Score: 824
Goal Score: 850


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Message 26 of 36
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Re: December 2019 Check In Thread

Hi! Just joined today. I guess I’ll join the January credit challenge as well. I have been on here literally for 4 hours reading posts. You guys are pros! But here is my situation. I believe my issue is credit utilization at the moment but you tell me. Also if 1 CB has no payments reported for an entire year does that matter? And can I do anything about 1 car payment being 30 days late from 2013?

I have 3 Revolving Credit accounts, totaling $4,150CL, with $4,046 Balance. Capital One : $627BL / $750CL, $630 / $700CL, $652BL / $700CL
No current baddies, 1 Inquiry falling off 2/2020, no collections, No BK, No Derogatory marks, no mortgage, or car loans or student loans.
Old derogatory marks - Missed 1 auto payment 8/2013, (all of 2017 payments were not reported on Equifax) car loan paid in full 2014. 3 closed accounts, 2 were Capital One accounts closed and paid after write off in 2014 & 2016


Message 27 of 36
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Re: December 2019 Check In Thread

You already know your problem. Your utilization is killing your score. You should just focus on your debt. Those old missed payment and write offs are stale and shouldn't be affecting your score too much.
Starting Score: 643
Current Score: 643
Goal Score: 675


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Message 28 of 36
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Re: December 2019 Check In Thread

Thank you! I think the beans and rice with peanut butter and jelly sandwiches begins. Lol Single mom here of a teenager that eats like crazy but I think I can buckle down. Will check here for additional ways to save money.


Message 29 of 36
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Established Contributor

Re: December 2019 Check In Thread


Welcome to the forum SupaWmn41!  I know how it feels to read for hours.  I still do sometimes as there is a wealth of information here and always new scenarios.

 

This place is a good start but you may get more traction in rebuilding, understanding credit or general topics.  But whatever you gain here would be a good start for you January goals and the January 2020 check in thread.

 

You have a nice increase coming your way once you get your CC UTL down.  Right now you're pretty much maxed on your cards which is one of the things holding your scores down.  I made some notes in red below.  I'm a bit confused about your actual UTL considering the reference to 3 revolvers totaling $4150CL and $4060 UTL/BAL because you list 3 revolvers that don't total this.  Am I missing something?

You may have read about UTL thresholds - 88.9%, 68.9% (increments of 20 down to 8.9%)  Each time you drop to/below one of these on a single card you should see a gain in score, granted all other things remain positive (no increase to other UTL, lates, etc).  These are also thresholds where points can be gained for aggregate/total UTL when adding up all revolvers.

 

Aged lates may not impact your score as much as it does initially but they still impact your score, therefore pts can be gained once those age to 7 years or removed for some reason.  There are many threads that note the varying impact of a single 30 day late aged over 6 years.  For me across the 3 bureau's I received as much as +50 and as little as +27pts after the removal of a lone 30D at 6+ yrs.  But each profile is different.

 

If there is a need, an installment loan is something that can also impact your scores as it rounds out the credit mix.  You can still get to your goal without an installment loan but to maximize, one is needed.  But it's not worth adding debt not needed to maximize if there is no reason.  a 750 score/you goal should work to your advantage.

 

Good Luck!

@SupaWmn41 wrote:
Hi! Just joined today. I guess I’ll join the January credit challenge as well. I have been on here literally for 4 hours reading posts. You guys are pros! But here is my situation. I believe my issue is credit utilization at the moment but you tell me. Also if 1 CB has no payments reported for an entire year does that matter? It could help or hurt depending on the status of the acct not showing.  Sometimes there's nothing you can do if the lender doesn't report.  But if you know others with the same lender that reports to that bureau you may want to inquire with the bureau.  And can I do anything about 1 car payment being 30 days late from 2013? Search Goodwill campaign.  May take some time, may not work but it's worth a shot if you don't want to wait until it falls off.

I have 3 Revolving Credit accounts, totaling $4,150CL, with $4,046 Balance  Confused because the 3 you list don't total this much???. Capital One : $627BL / $750CL= 84% UTL, $630 / $700CL= 89% UTL, $652BL / $700CL = 93% UTL 
No current baddies, 1 Inquiry falling off 2/2020, no collections, No BK, No Derogatory marks, no mortgage, or car loans or student loans.
Old derogatory marks - Missed 1 auto payment 8/2013, (all of 2017 payments were not reported on Equifax) car loan paid in full 2014. 3 closed accounts, 2 were Capital One accounts closed and paid after write off in 2014 & 2016.  This sounds like it may be collections are charge offs you eventually paid?  Even if paid they are still considered derogs/baddies on your report for up to 7 yrs + 180 days or as long as they appear.  Goodwill campaign may help with this too.

 



FICO 8 as of 04/01/20
FICO 9 as of 03/09/20
AoOA - 24Y1M | AAoA - 11Y11M | AoYA - 0Y7M (EX-AAoA 11Y8M)
Open: 8 CC | 2 RC | 1 PLOC | 1 MTG loan | 1 Auto loan
Closed: 1 MTG loan | 1 Auto loan | 2 RC
Message 30 of 36
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