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Hey Challengers! It's February 1st, which means it's time for our first ever monthly check-in thread! As a reminder, participation in these monthly check-ins is optional, but encouraged.
Think of it as a recurring pitstop on your 2013 financial journey: here's a place for you to pull over, take a quick break, and reflect on the last 30 days. Did you hit any potholes or speedbumps? Find yourself in need of a tune-up? Achieve some goals, either small or mighty? Add a new leg to your journey?
Let us know how you're doing! What have been your biggest accomplishments and obstacles so far in the myFICO Fitness Challenge for 2013?
Where are my new scores after laying out thousands to get squARE WITH CREDIT CARD DEBT?
do the scores here really match what the mortgage broker willl run for me?
how long does it take for payments to get reported to the credit bureua
guess I should be glad I like the house i have
definitely
broke again
@brokeagain wrote:Where are my new scores after laying out thousands to get squARE WITH CREDIT CARD DEBT?
do the scores here really match what the mortgage broker willl run for me?
how long does it take for payments to get reported to the credit bureua
guess I should be glad I like the house i have
definitely
broke again
You'll get there. Hang in there. For the answers to your questions in detail, definitely check out the Understanding FICO Scoring board. In summary, congrats on the debt paydown. Many do see nice increases after paying off CC debt. Your lender's scores may or may not match. Depends what they use. And typically CCs report once per month to your credit reports. But definitely post over in that board for more eyeballs and more support for your questions.
Well, I started the year off with two credit cards approvals both Visa Signature products to add to one other Visa sig. product I have. They are all listed in my signature below. Anyhow, I figure that this may have a very short and minor negative impact on my AAoA, but I expect by the end of 2013 it will have recovered nicely and then some! But, (and this is a topic for another thread) I am having a hard time staying in the garden because there are so many wonderful credit products to apply for. I'm really not interested in taking on more debt (car loans, etc.), but I am enjoying reaping the benefits of having credit cards and using the rewards. I have been fairly moderate in my applications I feel (not going on app sprees of 4+... 5+ 6+ whatever cards). I usually apply for two at a time and have had great success with that. Three in July '12, one in November '12, and two in Jan. 13. Approved for all of them (some after contacting the reconsideration line). I was declined for a second Citi Aadvantage Visa when I applied for two at the same time. I am writing a letter to their executive department for reconsideration just in case (All they can say is "no". The initial application for both only resulted in one HP...though they may do a HP for reconsideration of the second, hard to say). I'm really motivated by the progress I was able to make in only 6 months last year, just by applying for new cards to increase my credit score! All the hard work I did over the past years cleaning up my credit has really paid off. I think there still may be some things I can do to further refine my credit report, and I'll look to the boards for assistance there. I have a few baddies from 2007 that still show. I believe I have written GW letters in the past, but I'm willing to try again with some suggestions and advice. (Gordon's Jewlers HSBC retail credit, Alliance One - traffic violation collection agency). Either way, they'll come off next year so I'm not too worried, especially since I'm still getting approved for premium products.
As I stated in the 2013 fitness thread, I set my goals to be: 740+ across the board, allow my current crop of cards to age, and get a good APR on a car loan later this year around late spring or summer.
I didn't expect to achieve the score part of this so soon! At 735, my TU score wasn't far off, but my EQ score was 723, so I thought I had a ways to go. Things are pretty stable on my reports at the moment, so I thought that with aging I'd be making progress at the rate of a couple of points a month, taking me well into the year to get my EQ up into the 740s. But I pulled my scores yesterday, and to my utter shock I found that both TU and EQ had surpassed my goal score, at 744 and 766 respectively!!!
I'm absolutely thrilled about this turn of events, but now I find myself wondering if I should reset my goal? Perhaps shoot for 760+ FICOs? Or simply be happy that I've come as far as I have? I need to think about this, but any feedback would be appreciated.
Doing OK Sarah. Still broke but everybody is paid! haha
My credit limit on my CapitalOne Secured Credit card was increased to $300.00 this month. I was able to obtain a Victorias Secret credtit card with a $500.00 limit through a soft pull. Once I pay my credit cards this month I will have my usage under 10%. Once that's done I plan on tackeling the last couple of items on my credit report that are showing outstanding.
I'm proud to say that I'm moving right along with the challenge. I have managed to pay off 2 accounts in January. I'm looking forward to paying off 2 more accounts with my anticipated tax refund in Febuary. I'm pressing to get my monthly debt paid down as much as possible so I can obtain a decent amount for a mortgage by April.
i've been gardening.
paid off some good balances from christmas shopping.
hanging in there.
only time will help my score at this point!
A mix of low aaoa and high amount of inquries!
but no baddies whatsoever so thats a plus.
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |