Hey Challengers! It's March 1st, which means it's time for our second monthly check-in thread. 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.
How did the month of February treat your finances? 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! What have been your biggest accomplishments and obstacles so far in the myFICO Fitness Challenge for 2013?
Pretty well. I was dicharged from bk7 and was approved for three starting rebuilder cards. I'm a bit behind with my savings for the year, but hope to catch it up soon. I'm in the garden as of 2/23 and plan to stay a bit.
New goal 675
Checking In.....
Last Check In
In Feb. I did the following:
- Deleted 4 collection accounts ($832)
- Paid 5 collection accounts ($1153.00)- 4 paid collections fell off TU and EQ reports( wasn't expecting that)
- Paid off 2 yes 2 car loans ($3,190)- Still waiting on the CR to update
- Paid off my credit cards ($ 680)- reported 1 account w/ a $9.00 balance
(They got me on the intrest for the balance i finally paid off)
I'm looking forward to my March credit reports..
Whats left:
5 Collection accounts ($3,300)
The Results of February's great work:
TU: 532- up 8 points
EQ: 542- up 38 points waiting on one paid collection to fall off(then EQ will have zero collection accounts) Yippy!!!
EX: 579- up 19 points
***Not all undated activity has been reported so I'm hoping there is more to come.
Utilization: 1%
Last inquiry: Sept 2012
March Goals:
- PIF- 4collectionaccounts ($3050) TU
- CLI- CapOne
- BecomedebtFREE!!!!!!!
- LearnhowtocreateGWletters (I'malittlelostwiththisone)
House ..... Here I come...
Enough Income.. check
Down payment... check
Credit...............Hummm...........................
.. awh heck ...At least I'm on track.. LOL
February was PERFECT. (sorry for the essay in advance). 
Starting this challenge I had a score of 656 (lender pull in November 2012) that I increased to 697 by the end of January 2013. In the past 4-5 years credit card comapnies would not even look in my direction. I could not even get a Bank of America secured card just 2 years ago. I was able to get a Capital One secured cc with a $200CL. Due to paying on time they increased it to $500 and then I recently (January) added $500 to bring it to a $1K spending limit.
But as I reported in the "Credit Card" forums, at the end of February I was able to get a CL from Discover for $8,000!!!This was after contacting BofA and having them remove a derog on my report (So I went from 3 reported lates to only 2) and bringing my Credit utililzation down from 98% - 28%.
I woke up today still taken aback by the fact that I recieved such a large CL, so I hopped on my FICO just to get another credit check to make sense of the approval. I'm happy to report that I reached my goal of 720 (727 to be exact).
I thought it would take the entire year for this to happen so I decided to change my goal to 760. I know that the Discover inquiry may reduce my score (if it hasnt already) but with that $8K CL I'm sure I will get another jump. I am working on getting the other two derogs off of my report but my 7 years is coming up this summer so I am anticipating them falling off with out my efforts.
This is really encouraging because a few years ago I couldn't dream of purchasing a home because I was in the mid 500's, so to be in the 700 club...feels great. I am working on purchasing a home exactly a year from now so I've been saving up for a down payment and have placed myself in the garden so I do not get any more inquiries on my report.
Loving this MyFico Challenge!!!
MARCH WOES AND DISAPPOINTMENTS 
My credit score dropped a toal of 39 points.
Two added collections accounts:
one from the Department of the Treasury in the amount of $10,900, the Other from an old AT&T account for $782.00
I am in the process of a case review with the Department of Treasury for validity of the debt and they took my $7,000 IRS tax refund to offset the debt. I had planned on using that money to pay off all of my credit card debt, start a savings, and increase the balance of my secured capitol one card. I am extremely disappointed in everything that has happend and although I feel extremely discouraged I'm not gonna give up.
For me, February was uneventful, though my EQ fax score jumped from 618 on Feb. 3 to 628 at the end of the month. This was a result of two inquiries falling off and two new non-secured cards posting to the CRs which had a positive impact on my utilization. This was offset by an old collection resurfacing, booo. I will be PFDing that one, in the coming month.
I was slacking for sure in February and did not send out follow-ups to PFDs and GW letters that did not get responses or were declined. This month I will make it a priority to get those out. I also have an appointment (this week!) to visit the law library at the courthouse where the librarian has offered to assist me with writing motions to vacate two of my three judgments.
I have also recieved two unexpected but welcome bonuses (and an additional short term contract) from my current client - this has enabled me to meet the goals for my emergency fund and free up that monthly expense to put toward paying off lingering debt. In March I will work through several strategies with the help of the score simulator to put this $ where I will get the most bang for my buck.
I am optimistic about this coming month and have just finished reading all the 'happy dance' threads in the credit repair forum, they always give me a boost of motivation when needed. :-)
Starting Score: 523 TU: 3/15/2012
Paid off 3 of my CCs and 1 Collection. Utilization went from 47% to 19%
Plan on paying off last CC and continuing to make payments on time. Looking forward to raising my score little by little.
My starting score for EQ last month was 528.. It is now 597 and growing!
$860 Midland- PAID 2-21
$436 Chase-PAID 2-11
Both have yet to update on my reports
$850 Kay PAID 2-22
$306 Verizon PAID 2-26
2 collections DELETED Currently have 0 showing on the EQ report
My only debt now is Bellco CU balance is $800 and I am waiting to hear back on a settlement offer
SO GLAD I AM ALMOST DEBT FREE 