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With all that has happened in this life-changing past year, credit can seem insignificant. That is completely understandable. For those that have their eye to bettering their credit profile during this time, we welcome you here with open arms.
3 months have passed now in 2021. Have you progressed as far as you hoped? Were there any unforeseen 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-judgment 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!
Believe it or not it is officially March 2021! In some areas of the country and posters on this Forum have been planting their early crops. As for myself, the Arctic Circle still prevails with temps below zero again!
Since we are on the cusp of spring some of you may want to consider what your course and direction are for March? Cleaning out the sock draw and using that card so a lender doesn't think you no longer love them and close it or reduce the credit line? You may want to cull the herd on credit and deliberately eliminate unused credit lines (remember to check on what that might do long term - 10 years is an estimate on how long credit may remain on your CBs)?
Lot's of good solid spring cleaning may be the ticket?
February wasn't too bad. I had my AZEO report properly this month, with only a $5 balance on my largest SL card. 2 old inquiries hit the one year mark, and 2 of my cards hit the 6 month mark. There seem to be DPs about increases for those milestones.
I happened to notice that 2 of my baddies were eligible for early exclusions, so I contacted TranUnion and Experian and they got them off my report the same day I made the call. Well, TU was immediate, Experian was 24 hours, but I'll take that.
I had a few hard pulls for my mortgage. Once myFICO updated, even though most of my EQ and EXP of my scores took a slight hit, all my TU scores shot up anywhere between 3 and 18 points! My Experian and TU mortgage scores went up 10 and 11 points respectively.
All 3 of my FICO 8 scores finally broke the 700 barrier, which is probably the highest it's been since my late 20s. Still chipping away. Next intermediate goal is underwriting for my house this month.
Beginning of March, I hoped I would be further along with my plan. I'm not, but I am completely okay with that.
I was under in some of my budgets, over in some of my others. We're still fine tuning some categories on our budget.
The saving goals are lining up, each little transfer adds up.
My overall utilization went from 87% to 86% last month to 85%. My husband's dropped his a little as well.
Hopefully, more good news by the end of the month.
New 3B report on Feb 27.
Two of my scores dropped slightly. The other twenty-six are all the highest they've been in the short time I've been tracking them.
For a point of reference, when I tried to buy a new pickup in 2004, my score (I don't know which one the dealer was quoting) was 450 so I had to put everything in my mom's name. (Embarrassing when I was 36 years old.)
11/28/20 12/28/20 01/28/21 02/27/21
FICO 8 Eq 680 696 713 730
FICO 8 TU 727 713 729 748
FICO 8 Ex 701 718 731 738
FICO 9 Eq 700 709 745 764
FICO 9 TU 726 714 733 759
FICO 9 Ex 724 704 738 747
FICO 5 Eq 691 702 706 721
FICO 4 TU 725 735 736 741
FICO 2 Ex 694 728 726 725
FICO 5A Eq 681 689 692 706
FICO 4A TU 733 743 744 748
FICO 2A Ex 694 725 724 731
FICO 8A Eq 666 678 701 723
FICO 8A TU 709 697 712 733
FICO 8A Ex 699 709 723 731
FICO 9A Eq 685 690 727 754
FICO 9A TU 712 700 719 748
FICO 9A Ex 722 694 729 738
FICO 8B Eq 663 679 695 717
FICO 8B TU 728 712 739 763
FICO 8B Ex 698 716 738 748
FICO 5B Eq 703 713 722 742
FICO 4B TU 729 732 730 735
FICO 2B Ex 699 727 722 718
FICO 3B Ex 694 705 725 732
FICO 9B Eq 698 706 749 772
FICO 9B TU 728 716 737 771
FICO 9B Ex 719 703 741 754
Not sure if I joined the challenge right or not
@Jjhart36 wrote:Not sure if I joined the challenge right or not
Not sure you can do it wrong.
I'm new here but since no one else has answered. You set goals. You work towards those goals. You check in and report on your progress if you want to.
@mgood May I ask what you've done between Jan and Feb? Do you have any marks on your CR? I'm currently at your Jan level and aiming for your current Feb level! Amazing job building those scores up!
@Anonymous wrote:@mgood May I ask what you've done between Jan and Feb? Do you have any marks on your CR? I'm currently at your Jan level and aiming for your current Feb level! Amazing job building those scores up!
Mostly just paying down balances. My one baddie was a 30 day late that fell off back around December, so high balances was what was holding me back and I've been pounding them down.