January 2019 Check-In Thread

[Anonymous]

I've opened a lot of new credit in the last two years (two new mortgages and one card) and it has taken a toll on my score. I have been working balance transfers to try to keep my overall interest paid fairly low. I'm working the plan, paying off debt and looking to hold spending down as low as possible so I can really hammer away at the credit card debt as I start to free cash flow up from my installment loans. My car's nearly paid off, I have about a year left on one installment loan, and I should get a decent tax return thanks to business losses that will go straight back in to pay off debt. 

Speaking of business losses: my main goal right now is to cash flow my business and get to profitability this year. The last two years have been a slow building process, with losses from our startup costs starting to even out with current sales. We could have been just barely profitable this year but chose to keep investing to buy more equipment. I don't think I'll be taking out any new loans, but I want to get my credit back into great shape in case there's an opportunity I want to take advantage of after 2019. 

[Kkwillletyouknow]

Better late than never! I just made it through the furlough of 2018/2019 and goofed up with the utilization on one of my secured cards. Took a hit but I'm ready to bounce back next month.  

Goal is to sail into the 700s by summer and buy a new house.  Other credit related goals include refinancing my private education loans and developing a solid plan to pay those off within the next 3 years.

Happy to be here.  Ready to see what I'm capable of.

[Anonymous]

Welcome KKWillletyouknow! Good luck on your credit journey and let us know if you need any help or have any questions.

[GApeachy]

Just checking back in before January is over.  So far, pretty good....I think.  I decided to only pay bills through the cards (no more debit card use), pif every friday.  I'm hoping this will look favorable when I'm up for cli/unsecure evaluation on one card and cli's on the rest.  All of our cards are new, less than 5 months.  I figured using all of our cards weekly, pif weekly is the best plan.  Most of our cards have an avg. cl of 3k so if using them daily is best and pif weekly to keep utl% under 30%(when reported) then I'm full steam ahead.  CapOne evaluates me in two more months and Disco in 4 months.  If I'm missing something, would appreciate any advice. My fico's have increased by at least 140pts. since Oct. 2018.

(edit on the reported utl%) I do have a couple of cards report at 0% but sometimes my Friday pymt. doesn't refect the pif when reported.