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January 2021 Check-In Thread

Doodlebug30
Frequent Contributor

Re: January 2021 Check-In Thread

Hey @GApeachy , peep my new spade! 🤣 Woot! End of December was 1 month but I just changed it. 

Message 11 of 37
GApeachy
Super Contributor

Re: January 2021 Check-In Thread


@Doodlebug30 wrote:

Hey @GApeachy , peep my new spade! 🤣 Woot! End of December was 1 month but I just changed it. 


Oh yeah, that's a good looking spade👍👍

Woot! back at cha🤗

"My Take Home Pay Don't Take Me Home"
Message 12 of 37
mgood
Frequent Contributor

Re: January 2021 Check-In Thread

Today my Cap1 QS account reported that I owe a whole lot less on this statement than I did on the last statement. UTL dropped from 70% to 48%. TU 8 went up 5 pts. Exp 8 jumped 10 pts. Eq 8 didn't move, and that's my lowest score. But it's also the one hardest hit by my recent inquiries, so the lowered UTL may have just balanced it out and kept it from dropping.

[EDIT: Equifax was slower to react, but it went up 17 points today 1/09 after my PenFed Gold reported my balance went down $27. But they may all drop a bit when Disco reports. That's where my spend has been this month and it's over 50% now.]

 

My aggregate debt continues to decrease while my total credit limit across all cards goes up, so my aggregate UTL is dropping fast. Currently at 19% reported (will be more like 15% when my new cards report), down from 37% a few months ago. Moving towards my goal of sub-10% UTL.

Most of this actually happened in December, but it shows where I stand now in  early January.

Between Dec 4 and Jan 4:
Opened three new cards, $2k, $6.5k, and $5k.
Upgraded my Cap1 Platinum to Quicksilver, something I should have done years ago, but I wasn't aware of such a thing. (No change in CL.)

Got a CLI on my Eddie Bauer card, from $1120 up $480 to $1600.

So I added a total of $13980 to the $15370 I had, a 91% increase in total credit limits!

Now my inquiries and new accounts opened looks nasty, but I see that as a short-term hit for long-term gain.

 

I need to figure out how to garden. Where do I get one of those spades?
[EDIT: Never mind. I found it. I'll have to add my seedling after I get the 'Vette.]
Though I still plan to buy a car in the next month or two, if my recent spree hasn't killed my chances there. Does car buying disqualify me from gardening? That's the only other credit line I intend to add for 2021, or most of 2021 anyway. Smiley Happy

GOAL:

Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 743, TU8 748, EX8 731
Goal Score: EQ8 780, TU8 780, EX8 780


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Message 13 of 37
Caramelhunnyva
New Contributor

Re: January 2021 Check-In Thread

Happy New Year Everyone!!!

Starting Score: 499
Current Score: 640
Goal Score: 850

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Message 14 of 37
Caramelhunnyva
New Contributor

Re: January 2021 Check-In Thread

2021 Financial Goals

 

1. Increasing my  savings

2. Continue paying bills on time every month

3. Work towards being debt free ( paying off loans, credit cards and paying my only monthly living expenses)

 

This forum has been great for helping to keep me on track and motivated towards being debt free

 

Starting Score: 499
Current Score: 640
Goal Score: 850

Take the myFICO Fitness Challenge!
Message 15 of 37
Dinosaur
Moderator Emeritus

Re: January 2021 Check-In Thread


@Caramelhunnyva wrote:

2021 Financial Goals

 

1. Increasing my  savings

2. Continue paying bills on time every month

3. Work towards being debt free ( paying off loans, credit cards and paying my only monthly living expenses)

 

This forum has been great for helping to keep me on track and motivated towards being debt free

 


Great list of goals!

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


Take the myFICO Fitness Challenge
Message 16 of 37
Dinosaur
Moderator Emeritus

Re: January 2021 Check-In Thread

@mgood you have accomplished a lot! Take a bow.
Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 17 of 37
Dinosaur
Moderator Emeritus

Re: January 2021 Check-In Thread


@eva21513 wrote:

I'm brand new! Well, not really - I've lurked on this forum FOREVER. In fact, I rebuilt my credit with the advice I found here in 2014-ish... became really depressed early this year, and now I need to rebuild again. I actually started in December and I'm waiting for my Ex/Eq to update, but my TU went from 570-something to 616 from a measly $150 collection being removed! I settled a charge-off that was $10k, hoping I get a similar boost from that somehow, even though I didn't PFD it. 

 

Hoping to get all three bureaus up to 640 this year. It'll  be hard, but I'd like to buy a house in a couple of years, so ultimate goal is to get to the mid- to upper-700s by then. 

 

This is an emotional topic for me - it's not 'just money' - everyone in my family has bad credit; my dad just told me he's working with a debt settlement company again and his scores are actually worse than mine - even with the charge-off and collection. =( I want to break the cycle. 


Great effort. Re-building credit can be frustrating as sometimes it takes a long time (much like a tortis in a race). Stay focused and know you have a goal now you stay the course!

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


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Message 18 of 37
Technician2210
Established Member

Re: January 2021 Check-In Thread


@ThetoriParadox wrote:

Hey! New MyFico Fitness Challanger here! I have been on these boards a LONG time and feel very confident and proud of my progress.

This second REbuild has been a DOOZY

My goals for this year are:

1. Bulk up the savings account

2.Grow my current cards and get rid of my rebuilders

3. Pay back ALL collections

4. Pay off car loan

5. STAY ON BUDGET!

Can't wait to CRUSH this year financially!


I hear you on #2. I was living off of strictly cash for the better part of 4-5 years, and I got two "starter" cards (I like to call them burners}. They have served their purpose and live in the safe now. I'm enjoying chasing after the cash back now but I'm not "manufacturing" any spending to do so.


Starting Score: 593
Current Score: 703
Goal Score: 725


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Message 19 of 37
Technician2210
Established Member

Re: January 2021 Check-In Thread

Today was a big day for me. I put down an initial deposit on a new construction home that's currently a patch of grass. I was sad to see that money fly out of my savings account that I nurtured and babied for the last 2 years, but I knew it was there mainly for this purpose. Sigh.

 

Anyway, I spoke to a loan officer for the builder's mortage company and he ran the numbers unofficially and I'll get a good part of my deposits back after closing, so I'll definitely put that money back in savings.

 

My credit score took a slight dip as my new AMEX account hit the books, but I'm still sitting pretty good all things considered. 

 

Oh- I changed my starting score to my 1 Jan 2020 Experian score- I figure that would give me a better picture of how I'm doing.


Starting Score: 593
Current Score: 703
Goal Score: 725


Take the myFICO Fitness Challenge
Message 20 of 37
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