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January Check In Thread

Moderator Emerita

January Check In Thread

Most people sit down and write out New Years Resolutions.  Credit wise, what would be on your list?  

 

I know you are all hard at work with your credit goals.  Have we progressed as far as we hoped?  Were there any unforseen expenses that cropped up and may have thrown you off schedule?

 

As a reminder, participation in these monthly check-ins is optional, but encouraged. The goal is to help keep you on track, so feel free to post your progress updates here. This is a no-judge zone; feel free to say what's keeping you up at night or give yourself a kudo for having it all together.

 

Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?

 

Let us know how you're doing! Now that 2014 is behind us, can you see any improvements?

Message 1 of 49
48 REPLIES
Moderator

Re: January Check In Thread

Still slogging through.  Didn't make last year's goal of a 700 (not even close apparently by time value) so simply recycling it for this year.

 

Did go from 665 -> 683 on EQ Beacon 5.0 (my gold standard tracking score) so wasn't utterly dead: moved halfway to the non-ludicrous Chase jumbo mortgage standard so could be worse.  Might get a few additional points if my balances were utterly clean but we're talking 687ish not 700.

 

Wasn't really much in the way of setbacks even though all my FICO 8 scores dipped around the time my auto loan closed and haven't recovered; did go on a spree in May which didn't help especially since a non-trivial number of inquiries landed on Equifax (thanks Verizon!) from various new wireless and Internet requirements but such is life when credit reports are so intrinsically tied to us.

 

Anyway another year in the books; not planning to open up any accounts this year or otherwise take any inquiries unless one of the business ventures needs financing the old fashioned way on personal guaruntees, think may come up for air in 1/2016 to finish off my credit profile for the next 3-4 years if I can get a little luck from the scoring gods as my derogatories continue to age... or may just hang out in the Garden for a truly extended period.

 

On the happy note, did get a pair of auto-CLI's near Christmas (Chase / Barclays) so patience and good behavior does get rewarded, just not as quickly as I might like Smiley Happy.

 

Hope everyone is doing well this New Year, both for credit and everything else!

 

 




        
Message 2 of 49
New Member

Re: January Check In Thread

i am new to checking in but will try to check in every month this year.

 

I am starting 2015  with a 509 overrall score. for 2015 my resolution is to improve my score to atleast a 600+ . will stick around reading and learning on how to focus on that sad sad score and be alot more involved with my credit building.

Starting Score: 509(12/31/2014) Lender Pulled
Current Score: 509(12/31/2014)
Goal Score: 620
Message 3 of 49
Super Contributor

Re: January Check In Thread

For 2015 the garden is my spot. Pay down on utilization is the goal. Realistically, I have all the credit I need (too much) and am unable to use it all. Could easily close a couple of department store cards as I can access credit elsewhere and I have too many same or similar bank credit cards. Now some of these cards are my oldest accounts so baby steps are required if a purged cleansing is to take place.
Starting Score: 826 Fico TU08
Current Score: 850 Fico TU08
Goal Score: 850


Take the myFICO Fitness Challenge
Message 4 of 49
Established Member

Re: January Check In Thread

Not a bad year.  Closed on my town home, got AMEX, Discover, QVC, Cap 1 QS.  Changed secured CU CC to unsecured.  Did not get to 700 yet.  Goal for 2015:  garden until July 2015.  Get to 700.


Starting Score: 609
Current Score: 682
Goal Score: 700


Take the myFICO Fitness Challenge
Message 5 of 49
Valued Contributor

Re: January Check In Thread


09Lexie wrote:

Most people sit down and write out New Years Resolutions.  Credit wise, what would be on your list?  

 

.  .  .

 

Did you hit any potholes or speedbumps? Achieve some milestones, either small or mighty? Change your goals or add new ones?

 

Let us know how you're doing! Now that 2014 is behind us, can you see any improvements?


I achieved my goals a few times in advance and would change them during 2014.  I achieved FICO scores above 760, was pre-approved for home loan, & bought a new home in the Bay Area to be closer to my kids. I also wanted to keep my old house as a rental.  After the time envolved with fixing up the house and the hours it took to get to our previous town, I decided to sale the house instead (it took dear hubby over 2 months to get to new house).  I listed old house after 8 pm at night and it sold before 9 the next morning.  I'm thinking I must have sold it for too little, but that's all behind me.

 

On the bright side, my last goal was to keep my credit card and student loan debt below the amount I owed on January 2014.   I used part of the money to purchase a spa for my new home and paid off student loan and credit cards. Waiting with baited breath for delivery of spa.

 

My new goals for 2015 are:

 

  1. Keep credit card utilization below 15%, at present it's less than 1% 
  2. Save up for bathroom remodels (400+ per month)
  3. Garden (literally and financially)
  4. Monitor and protect credit
  5. Stop monthly payments from 401K for minimum 1 year-up to 3 years (I'm retired and used some of funds for down payment on new house. Stopping the payments will slow down the depletion of the 401K and keep me from re-charging the credit cards).

 

Original Mortgage maturity Sept 2044; Refi maturity Dec 2030
Starting Score: EX 751 EQ 720 TU 737 on 4/9/14
Current Score: EX 849 EQ 835 TU 843
Goal Score: 850


Take the myFICO Fitness Challenge
Message 6 of 49
Valued Member

Re: January Check In Thread

Last year was a good year! I raised my scores to the 600s from middle 550 scores. I went on a cc shopping spree and now I am done shopping. The only bad thing was I had to buy a new car at the end of the month. My brand new altima was having transmission issues so we had two options...trade it in and get something else or continue with the Altima and continue to have issue (dealership shop could not fix issue) and then claim lemon law.

My current scores are sitting at EQ: 658, EX: 618 and TU: 634.

My 2015 goals are:
1. garden
2. refinance new car in 6 months
3. Garden
4. Age my accounts
5. Save for down payment on home
6. 2016 buy a home!



Starting Score Average: EQ 569 TU 501 EX 562
Current Score: EQ 667 TU 757 EX 656
Goal Score Average: 800 Across the board


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Message 7 of 49
Moderator

Re: January Check In Thread

For me this year needs to be the year of the garden. Last year was very much an expansion year, and I don't see any needs that I would need to exit the garden for at this moment. It's just time for me to extend my AAoA. Pretty much don't plan on making too many drastic decisions (aka closing cards yet). Just want to solidify my scores and profile.

 

Message 8 of 49
Valued Member

Re: January Check In Thread

i have started the year on a positive note. i currently have 3 secured credit cards that i'm using to help rebuild my credit but failed to make any progress last year. for the majority of 2014 all 3 of my cards were maxed. today i paid the full balnce on 2 of 3 cards and the other i was able to get my utilization down to about60% with a goal of having that lower in the next 2 weeks.my scores starting in the new year are 563 trans 509 equi 533 experian  my goal is750 i know thats a reach for one year but it keeps me motivated when i set high  goals.

Message 9 of 49
Valued Contributor

Re: January Check In Thread

I have all the credit I need, Including a car loan.Not a bad couple of months post BK.  In fact way better than I could have imagined.  A few cards I would like to have but they will have to wait.  Its my year to stay in the garden. Thats firm and no other option will suffice.  Stay put and pay my accounts.  I'll take my CLI's when they come my way and let my scores inch up and allow the accounts and my AAoA to age. Its all good Smiley Wink

NFCU Visa 25k | Cap1 QS 11K | Cap1 QS 10.5K | Barclay Apple Rwds 9k | Amex AU 20k | Citi AU 10k | Delta Amex 2k | CFNA FS 2200 | VS 1200 | Car Loan 10/14 | Goal 740 by 9/17
Message 10 of 49