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July 2020 Check In

ElCocineroRojo
Contributor

Re: July 2020 Check In

I'm sticking to the garden now that I've got 3 revolvers. I made my 5th student loan rehab payment yesterday, only 4 more to go! Hopefully it will boost my scores, as they are the only derogatory marks I have. 

Next month I will FINALLY be able to get myFico scores!!! I am very excited to have a realistic expectation for my credit journey. Between Vantage, fico 8 and fico9, my scores are all over the place. 

Until all this dust settles, all I plan on doing is AZEO 1% Utilization. Hoping to have 18months garden and mortgage early 2022! By that time, my Navy cards should have respectable limits.

 

Thankfully, passing the time, with 2 Navy cards will actually be fun, between the graduation, multiple cli requests, and apr reduction between now and then! I have a little cookie crumb trail to follow! 




Message 31 of 47
Dinosaur
Moderator Emeritus

Re: July 2020 Check In

@ElCocineroRojo good work on the student loans as that is a big undertaking! Also, good choice of cards. Navy is known to treat people well and they are shy in the first few months but loosen with time! Smiley Happy Your scores will increase with time. We need to remember (it does get frustrating) that credit is not a race and patience is our friend!
Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 32 of 47
Dinosaur
Moderator Emeritus

Re: July 2020 Check In

@EverForward often it is good to slowly add cards so lenders don't see aggressive credit seeking! In our current times lenders are unsure how to rate new perspective cardholders. You have a good start so let them age and build a performance track record. Also, with gardening you may see larger starting credit lines

Note, I am speaking from my own walking the credit path.
Starting Score: 850
Current Score: 850
Goal Score: 850


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Message 33 of 47
EverForward
Established Contributor

Re: July 2020 Check In

Thanks @Dinosaur, I appreciate your feedback.

 

I am keeping my utilization at cut <3%.  I can still vividly feel the burn from carrying excessive debt prior to my Ch7(12/2018) and will never carry balances again unless I know it can be paid off within 30 days.

 

In reality, I probably need a business card prior to additional personal CC but I know I need to improve my scores, while buying time, before I'll qualify for an AMEX or business card with a decent SL.

Message 34 of 47
GApeachy
Super Contributor

Re: July 2020 Check In


@EverForward wrote:

  I can still vividly feel the burn from carrying excessive debt


Yeah, horrible feeling...wouldn't wish it on anyone! 

Good luck (later) with grabbing hold of a great biz card.  I had a whole lotta crawling before I could get approved, shot down a couple of times, but it was well worth it all now.  Kutgw, you're on your way!

"My Take Home Pay Don't Take Me Home"
Message 35 of 47
Jannelo
Frequent Contributor

Re: July 2020 Check In

Yay!!  I just pulled all three reports checking my FICO 8 scores.   Good news!!!

 

Experian is still at 667.   (Of course, I get that score every day, so no surprise,)

But drum roll: 

Equifax had a 10-point increase.  It's now at 668. 

TransUnion had a 9-point increase.  It's now at 652.

Open Credit Cards:
Green Dot Primor Secured (5/18) - $450 CL (CLOSED 2/2020)
Capital One Platinum (8/18) PC to Quicksilver (9/19) - $2300 CL
Capital One QuicksilverOne (3/19) - $1800 CL
Merrick Bank DYL VISA - No AF (6/19) - $1400 CL
Discover it Cash Back (9/19) - $2800 CL
Amazon Prime Store Card (4/20) - $10,000 CL
NFCU cashRewards (4/20) - $1500 CL
BB&T Spectrum Cash Rewards (5/20) - $3500 CL
Navy Federal More Rewards American Express® Card (3/21) - $9700 SL - at 9.65 %.
Experian FICO Score - 8/2018: 528

Experian FICO 8 Score - 9/2021 - 675
Equifax FICO 8 score 9/2021- 680
TransUnion FICO 8 score 9/2021 - 670
Message 36 of 47
Nikki66972
New Contributor

Re: July 2020 Check In

I am so disappointed.  

 

My last collected was removed on EQ today and my score dropped 33 points. Last week, the final collection was removed on TU and there was an increase of 11 pts. On EX, the final two collections haven't been removed yet. I thought there would be a hugh increase once the final collection was removed. Did I get rebucketed or is there possibly another reason for the huge drop? 

 

I have 6 CCs and a current car loan both with no lates. 

On 7/13/20 my scores: TU 617, EQ 620, EX 612

 

Two credit cards had credit line increases last week: Discover from $300 (secured) to $2000 (unsecured) and Mission lane from $750 (unsecured) to $950. These CLIs have not been report to any credit bureaus.

 

My utilization on all CCs are 8%

I have 4 inquires since Dec 2019. A 5th HP showed up because a fraudulent credit card was opened with Chase last month. The card was cancelled immediately and I am waiting to have the HP removed.

My AAoAs is 1 yr and 7 months with the oldest being 23 years.

 

I cannot stop crying because I need to move asap and my scores are not high enough. I need a 700 fico for most landlords or home loans. Please help.


title="Seedling Garden Club Member" border="0" width="50" height="67" align="right">
Starting Score: 589
Current Score: 589
Goal Score: 680


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March 2020
Message 37 of 47
Peazmom
Frequent Contributor

Re: July 2020 Check In

A few big goals accomplished in June and so far this month.

 

1.  Closed on my home loan June 15th.

2.  Applied and was approved for my remaining goal cards; AMEX BCP, AMEX Gold, Pen Fed Power Cash, BB&T Bright.

3.  With the addition of the new cards and now having a couple of cards carrying balances for home purchases vs AZEO prior to the mortgage closing, my credit score has taken a hit, but I was expecting that.  I went against conventional wisdom and applied for all of the cards at once, so they can age together.  Unless some new FOTM comes along with ridiculous rewards, I have all in my wallet that I will need.

4.  Scored a couple of SP CLI's (NFCU Platinum and CITI)

 

Now to the garden for a good long time to let everything age, scores recover and get rid of the few balances that I am now carrying.

Starting FICO 8 December 2017

FICO 8 as of 6/7/20



Sock Drawer:

Message 38 of 47
GApeachy
Super Contributor

Re: July 2020 Check In

@Nikki66972 Do you have a family member that could add you as an AU on any good standing, preferrably aged and low utl. accts.?  Also, you should post this in the rebuilding section to have some more eyes on this and get some solid advice that might help you within your timeframe.  Hope your scores climb soon and you're moving in soon.

"My Take Home Pay Don't Take Me Home"
Message 39 of 47
Nikki66972
New Contributor

Re: July 2020 Check In

@GApeachy No one that I can think of as an AU. Most of my family has poor credit.

Thanks for the good wishes.


title="Seedling Garden Club Member" border="0" width="50" height="67" align="right">
Starting Score: 589
Current Score: 589
Goal Score: 680


Take the myFICO Fitness Challenge



March 2020
Message 40 of 47
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