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February 2021 Check-In Thread

itsnew
Contributor

Re: February 2021 Check-In Thread

This month I plan to focus on chopping away at the 9000 balance on my NFCU. Once that CC is paid down I will have one more credit card to pay off with a 9000 balance. Then it's student loan time. 

 

The goal is to clear all credit card debt and maintain zero on all except one but keep utilization at less than 1%.

 

Focusing on clearing all inquiries by year end on all three bureaus except the house if we purchase one this year. 

 

This is my first time gardening so wish me luck!

 

Current scores exp 693 equifax 690 trans 693

 

Goal 800 all three

img align="left" border="0" width="50" height="50" src="https://ficoforums.myfico.com/html/assets/challenge.png">Starting Score: 693
Current Score: 800
Goal Score: 850


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Message 21 of 34
Tryinghard258
Established Member

Re: February 2021 Check-In Thread

Hello,

I am working on building my credit.

I was raised if you didn't have cash for it you don't need it. But i never really knew how or where to start to build credit... Everytime i tried to apply for something.. I was always denied.. But many things in my life are changing. So i am learning it like i am 18 not 51...

When i started my vantage score was 524 . my in-law agreed to and me as a authorized signer on a credit card $3800 with almost 20 yrs no missed payments but high useage 81%. And the roller coaster ride started.. I jumped 194 points to 718 vantage. My fico scores. Are fico. 8 ..eq631 tu633 ex637

Fico 9..eq 591 tu613 ex551 

I went to a credit union and opened an account they offered cc of $500 or a line of credit of $500 i went there to open a secured card for $2200 anyways so i did and took the line of credit also...so i now have 3 accounts. And brought the usage down on the auth signer to $2000 from $3600 .

Any advice on where to go from here.

Starting Score: 1-2021 Eq 631 Tu 633 Ex 630
Current Score: 2-2021 Eq 641 Tu 649 Ex 644
Goal Score: 760


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Message 22 of 34
Dinosaur
Moderator Emeritus

Re: February 2021 Check-In Thread

@Tryinghard258   looks to me like you have got a realistic picture of your credit.

May want to pose some questions on the "Credit Card" thread. There are many good poster who can offer you the insight on your current needs.

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


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Message 23 of 34
Tryinghard258
Established Member

Re: February 2021 Check-In Thread

Thank you, i will. I can use as much advice as i can get..

Starting Score: 1-2021 Eq 631 Tu 633 Ex 630
Current Score: 2-2021 Eq 641 Tu 649 Ex 644
Goal Score: 760


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Message 24 of 34
nightswimming
Established Member

Re: February 2021 Check-In Thread

Late check-in! January went quite well. Got to see big jumps to all my scores after putting my bonus to CCs at the end of December.

 

Today, I mailed 8 GW letters to Citi to try to get 3 30 days dropped from my CR (my only lates!) and feeling pretty good about my letter. May need to add more addresses next month. Now to wait patiently and see how they go. They raised my CL from $6500 to $8500 in January without asking, so being optimistic! (Got two other cards to go up $500 each too!)

 

I took advantage of a Disco balance transfer last month which helped me get my Amex util down a bit and I've already paid half of the transfer off in about 3 weeks. Smiley Happy They offered me another of the same BTs -- as soon as I finish paying off Jan's, I'll do the same routine again. I've also started using/PIF my Disco card in an effort to show activity and MAYBE convince them of a CLI, so I can transfer more in these BTs. I was denied a CLI last month based partially on inactive use of card.

 

I am diligently paying down my Amex (where most of my outstanding debt is) and plan to pay off some smaller balance cards this month to have more cards reporting $0. Working towards AZEO! Hoping to get there next month.

 

Scores dipped a tiny bit last week but not concerned. Job situation is currently in flux but feeling okay as I have emergency savings now Heart and know I can weather some storm, should it come. At least I hit my health insurance deductible already so I can save some $ there at the moment? Smiley LOL



Starting Score (Sep 2020): Exp 6??, Equ 646, TU 663
Current Score: Exp 721, Equ 714, TU 710
Goal Score: 800


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Message 25 of 34
mgood
Regular Contributor

Re: February 2021 Check-In Thread

Work has been slow but we had a good few weeks and I've used those paychecks to further pay down my balances. Had one card I paid to zero but the danged trailing interest caught me by surprise so it reported a balance. Early next month I should be at AZE2 (All Zero Except Two). I didn't buy the car I was looking at. Someone else grabbed it a couple days before I was ready to pull the trigger. Mixed blessing because that freed up some money to further pay down debts, which will make my scores look good, but also means I'm too broke to make a down payment if the perfect car pops up next week, lol. Between slowly pounding down the balances and aggressively increasing my total CL over the past few months, my utilization is starting to look pretty good.

 

    BAL  CL    UTL
Sep 5731/15370 37%
Oct 5225/15370 34%
Nov 4373/15370 28%
Dec 4466/17370 26%
Jan 4062/22850 18%


Feb should come in below 10%. Projected end-of-month after payments post and all cards report:
Feb 3046/33350  9%


GOAL:

Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 731, TU8 752, EX8 739
Goal Score: EQ8 740, TU8 740, EX8 740


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Message 26 of 34
Dinosaur
Moderator Emeritus

Re: February 2021 Check-In Thread


@mgood wrote:

Work has been slow but we had a good few weeks and I've used those paychecks to further pay down my balances. Had one card I paid to zero but the danged trailing interest caught me by surprise so it reported a balance. Early next month I should be at AZE2 (All Zero Except Two). I didn't buy the car I was looking at. Someone else grabbed it a couple days before I was ready to pull the trigger. Mixed blessing because that freed up some money to further pay down debts, which will make my scores look good, but also means I'm too broke to make a down payment if the perfect car pops up next week, lol. Between slowly pounding down the balances and aggressively increasing my total CL over the past few months, my utilization is starting to look pretty good.

 

    BAL  CL    UTL
Sep 5731/15370 37%
Oct 5225/15370 34%
Nov 4373/15370 28%
Dec 4466/17370 26%
Jan 4062/22850 18%


Feb should come in below 10%. Projected end-of-month after payments post and all cards report:
Feb 3046/33350  9%


You are making amazing headway. At your current rate you may even see some positive score movement Smiley Happy

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


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Message 27 of 34
mgood
Regular Contributor

Re: February 2021 Check-In Thread


@Dinosaur wrote:

You are making amazing headway. At your current rate you may even see some positive score movement Smiley Happy


I'm gonna take hits for too many inquiries and too many new accounts opened. But those are small slices of the pie compared to utilization, so I'm hoping to see some upward movement on those scores. I have one foot in the garden while still looking for the right car at the right price, lol.


GOAL:

Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 731, TU8 752, EX8 739
Goal Score: EQ8 740, TU8 740, EX8 740


Take the myFICO Fitness Challenge
Message 28 of 34
Tryinghard258
Established Member

Re: February 2021 Check-In Thread

Here is my February update.

I still have a lot work to do.

But here is January to February progress..

January scores after adding as AU. On a CC...CL$3800 ..19yrs 11m and no late. $3471 bal

1 derog( collections $671 balance)

-------------------------------------------------------

Fico 8 ...eq 631 ...tu 633...ex 630

Mortgage fico.    Auto

5...676.                 5...700

4...693.                 4... 689

2...683.                 2... 646

Fico 9

Eq...591.   Tu...613.    Ex... 551

Utilization was 81% on 

--------------------------------------------------------

February scores after opening a Cc$2200(secured) 1month bal $371 and a LOC $500 bal $49

Derog paid (for less than total 50%)

Utilization down to 39% OVER ALL

 

Fico 8.  Eq...641.  Tu...633.    Ex...644

Mortgage fico.             Auto

5...689.                        5...706

4...696.                        4...703

2...760.                        2...739

Fico 9 scores

Eq...669.     Tu...667.     Ex...655

My utilization is 39%

--------------------------------------------------------

I have 2 new CC's not on report yet.

Just the hits are..

Delta skymiles Amex platinum.. CL $1700

Credit one Amex CL $500..

want to open a SSL LOAN. But can't find one that i can pay it down more than 3 month..

 

Starting Score: 1-2021 Eq 631 Tu 633 Ex 630
Current Score: 2-2021 Eq 641 Tu 649 Ex 644
Goal Score: 760


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Message 29 of 34
EverForward
Established Contributor

Re: February 2021 Check-In Thread

Scores have essentially plateaued with a 1 point or 2 increase here and there. I've been maintaining util below 3% at statement cut, then PIF, across all 4 CC.

 

Last CC app was nearly 8 months ago, 2 of my initial inquiries, from Cap1 and NFCU, hit 12 month mark as of this month. TCL just over $7k. I am one 13 months into active rebuild resulting from my Ch7 filing Dec 2018 (discharge Mar 2019).

 

I plan to app for NFCU More Rewards CC in the next month or two, thereafter request CLI on my NFCU cashRewards (last CLI Aug 2020). Later this year, I plan to replace my expiring Self loan with a NFCU SSL loan.

Message 30 of 34
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