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May 2018 Check-in Thread

Moderator

May 2018 Check-in Thread

_20160501_135006

 

 

 

 

 

 

 

 

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

 

As a reminder, participation in these monthly checkins 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! 

Message 1 of 16
15 REPLIES
New Member

Re: May 2018 Check-in Thread

well this month myfico equifax went up 12 point whoop whoop Smiley Happy  every thing else the same.  except transunion keeps going up and down by 46 points on myfico.  its done this 3 times now in the last month and a half.  its as if its going from a vantage 3 score and back to fico because its the high value is the same a credit karma.  also my credit report from equifax's site took a 6 point dump for no apparent reason.  all balances are lower, nothing dropped off and no inquiries.  All is good in the garden.  Truly miss the big credit score leaps of early credit building though.


Goal Score: 750

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Current Scores------ EQ 645; TU 715; EX 661 FICO 08--- Gardening from 04/08/18
Beginning Scores-- EQ 536; TU 573; EX 536 FICO 08 (10/21/16) - BK7 discharged 09/2012
11/16 First Progress Platinum Mastercard Sec. 20.99% 12/16 Capital One Platinum MasterCard card Upgraded to Quick Silver Rewards card 03/17 26.49% 04/17 Merrick Bank Visa 22.20% 03/17 Credit One Visa 24.15% 12/17 Best Buy City Visa Rewards 26.49%
Message 2 of 16
Frequent Contributor

Re: May 2018 Check-in Thread

Well, one of my goals for April was to set up payment plans with both Verizon and Citibank/Cavalry. Verizon was easy and set up with a couple of short phone calls. Cavalry, on the other hand, has been a thorn in my side. As I noted in my mid-month update some complications have arose preventing me from setting up a payment plan.

 

New goals for May:

  1. contact law firm again in a week to set up a payment plan. If a payment plan has not been set up after two weeks, I plan to visit the county courthouse to apply for an installment order. I really just want this over with.
  2. Pay open credit cards (obvs) and do a better job of paying attention to utilization.
EX 8: Jan 2018 - 546 | EQ 8: Jan 2018 - 571 | TU 8: Jan 2018 - 566
EX 8: Jul 2018 - 572 | EQ 8: Jul 2018 - 573 | TU 8: Jul 2018 - 578
TCL: $1,350 | AAoA: 7.9 yrs (I can thank my student loans for this) | Util: 63% (high due to charge-offs)
Cleaning up and rebuilding after a long hiatus from credit
Message 3 of 16
Member

Re: May 2018 Check-in Thread

Good luck on your credit restoration journey.
Starting Score:EQ-612 TU-638 EX-626
Current Score: EQ-612 TU-638 EX-626
Goal Score: 800


Take the myFICO Fitness Challenge
Message 4 of 16
Established Member

Re: May 2018 Check-in Thread

April was the month I entered the garden, and I will continue to garden for the foreseeable future.  The last card I wanted (for now) was the Amex BCE card, and in April I was approved, so it's time for me to just let my accounts age.  

I've been using my Chase Sapphire card for an awful lot of spending to build up the points, but I find myself in an uncomfortable place: my credit utilization has shot up to 28%.  And this past week I've been on holiday in San Diego, so with airline tickets, beach house rental, car rental, and dining/shopping it's gotten a work out.  May's challenge is to get that paid off.

My EX score has bounced around a bit, but seems to have settled in at 727.  Hopefully, gardening for a while will raise it.



Starting Score: 701
Current Score: 732
Goal Score: 800+


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Message 5 of 16
New Contributor

Re: May 2018 Check-in Thread

Entered the garden in April. CK indicates FICO is up by 10-12 points as of May 4🙂 Goal is to lower overall utilization, with a minimum year long stay in the garden—in paydown mode, currently at 60%. Down by 1% since April.









Gardening since April 2018
Message 6 of 16
Contributor

Re: May 2018 Check-in Thread

I started my journey April 2018. So here is the update from last month

 

1) Get all unpaid collections paid by 5/1/18. April I had 5/8 paid. I currently still have 1 that is left on my own account and we have one on my husbands account. So I didnt get all of them paid but I am almost there. 

2) Get old paid collections removed with GW letters. There are three accounts I am focused on. I send out GW letters to student loan servicer to get late payments on three accounts removed. One letter to Get It Now to have a volentary repo removed. One to a paid creditor to remove collection account. I was not able to get adjustments made on these accounts via regular GW letters to the companies so I just sent out GW requests to CEOs today. fingers crossed it works. 

3) Get two accounts that are past SOL removed(April) I sent letters to both collection agencies. Waiting to hear back. Requested debt validation and proof the accounts were not past SOL. I know both are so waiting for them to make a decision to remove the accounts. May: I didn't get anywhere after sending out 2 letters so I contacted the Credit Bureaus and submitted a dispute. I got a letter last week that the accounts were removed. YAY! 

4) Maintain less than 10% utilization on Rev accounts. I am at 28% which is down from 53% last month. Hoping by next statement date Utilization will be >10% Last month I app spreed a few cards I have been wanting and will use for sure. I currently have Capital One Plat ($400), Captial One QS ($300), Credit One ($600), Children's Place ($500), Justice ($500), Victoria Secret ($500), Wayfair ($500), and New York and Co. ($500) and I am waiting to get a Menards card in a few months simply because we do lots of projects. Of all the cards I am using $1300 of the total CL. I will be paying that down to >10% in the next 2 weeks before statements drop. Current Utilization is 34% as I was paid down to all at zero and one reporting $55 until Amazon Prime ran down the list of cards on my account until one cleared and it happened to be my CC right before statement drop so it nailed me 50% utilization on that one card. Smiley Sad SO we will see if we can make it work again for May drop. 

5) Get mortgage scores up to 640. When May Scores Drop beginning of June I'd like to see at least a 15pt increase across my scores. Work in progress. Mortgage scores went up from April Smiley Happy Not there yet but getting better. 

              April Mortgage Scores: Ex 537  TU 592  EQ 578       May Mortgage Scores    EX 558 (+21)  TU  589 (-3)  EQ 601 (+23)

 

*New Goal 6) See 10pt increase in Fico 8 Scores across the board for next report drop on 6/2/18.

            April Scores EX 599  TU 602  EQ 609           May EX  611(+12)   TU 613 (+11)  EQ 608 (-1)         June Goals    EX  621  TU  623   EQ  618 

 
For Me Starting FICO 8 Score 4/1/18 EX 599 TU 602 EQ 609
Current FICO 8 Score 6/1/18: EX 620 TU 617 EQ 623
Beginning Mortgage Score 4/1/18: EX 537 TU 592 EQ 578
Current Mortgage Scores 6/1/18 EX 607 TU 601 EQ 613
Hubby Starting FICO 8 Score 4/1/18: EX 505 TU 543 EQ 484
Current FICO 8 Score 6/1/18: EX 581 TU 581 EQ 569
Beginning Mortgage Score 4/1/18: EX 494 TU 512 EQ 548
Current Mortgage Scores 6/1/18 EX 577 TU 598 EQ 582
Goal Score 7/1/18: 640 Across the Board


Take the myFICO Fitness Challenge
Message 7 of 16
Community Leader
Valued Contributor

Re: May 2018 Check-in Thread

 

May 2018 Check In:

 

Goals and updates:

1a). Continue saving 12% of income. Check

1b). Look at depositing part of what I've already saved into a higher yield CD, maybe NFCU's Special 15-month at 2.25% Yup, $3000 in high-yield CD.

2a). Continue paying that extra $100 per month on my highest student loan balance. Discontinued. Goal of loan being above water is accomplished

2b).  Pay off my lowest student loan balance, which is less than $350 now. Stricken from plan. 

 3). No credit apps. Looking to get a ruby spade in December 2018   Failed. Scores holding strong.

4). Pay down utilization. Making good progress. All balances but one went down in March, and should again this month. Cards kept at status quo in May. Scores holding strong. Fingers crossed!

 

 

88 degrees and counting here. Hope everyone gets out and enjoys the Spring/Summer outdoors, there's nothing better than enjoying the awesomeness! Smiley Very Happy


Current Scores------ EQ 681; TU 655; EX 684 FICO 08--- Gardening 5/25/18 to 5/25/19
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

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Message 8 of 16
Established Member

Re: May 2018 Check-in Thread

Just checking in. My new comments in Blue.

I filed chapter 7 in Aug 2008, which means this is my 10th year and it should fall off in a few months.

I asked for early removal...and was completely rejected! Will try again in June. I wonder how this will change my score, once it is gone.


I have several credit cards with low limits, my utilization is 90%. Total credit card debt is $5300. Once I get my utilization under 30% I believe this will give me a major increase. My plan is to use the cards a little, but pay them down by a lot, each month.

Merrick Bank card doubled my limit from $600 to $1200, and my Credit One card increased my credit limit by $150  (every little bit counts, I guess). My utilization is now 70% and my scores have improved. Still using my cards a little, paying them a lot. Every time I have a bit of money sitting in my accounts, instead of going on an Amazon, I send it to a credit card

I have 100% on time payments on all credit cards and car loans.

Still 100% on time payments with credit cards. Something I missed previously was a 30 day late on a car loan I paid off in 2015. The very last payment shows a 30 day late! This was because I was under the impression that my last payment took care of the loan in full, but apparently a few dollars in interest had accrued, and by the time I realized this it had been more than 30 days. Ugh. I've written the lender, begging for forgiveness. I know it's old and probably won't do much for my score but I want every point I can get.

One silly collection from 2014 that shouldn't be there, disputing it now.
Sucessfully disputed away from EQ! *poof* Transunion is in my sights. It's not on Experian.

A lot of inquires that should also fall off by year end.

Waiting, waiting...

Woohoo Score Challenge
Starting Score: EQ 611, TU 622, EX 624
Current Score: EQ 623, TU 642, EX 640
Goal Score:700 across the board!


Take the myFICO Fitness Challenge
Chapter 7 BK will fall off August 2018!
Capital One Plat
Capital One QS
Walmart CC
2 First Prem Bank CCs(I know)
Merrick Bank CC
Credit One Bank CC
Milestone CC
Three Comenity Bank Cards that will be ZERO soon.
Message 9 of 16
Highlighted
Contributor

Re: May 2018 Check-in Thread

I have a Mid May update! I have made success in a few areas since my beginning of May update!

 

1) Get all unpaid collections paid by 5/1/18. April I had 5/8 paid. I currently still have 1 that is left on my own account and we have one on my husbands account. So I didnt get all of them paid but I am almost there. Update: Just set up payment arrangements on SNAP ON which is our highest account in colection and the one we were battling with the most. Woot! I also sent a PFD for Capital Bank and set up arrangements on account #3 that was a PITA too. Progress!

2) Get old paid collections removed with GW letters. There are three accounts I am focused on. I send out GW letters to student loan servicer to get late payments on three accounts removed. One letter to Get It Now to have a volentary repo removed. One to a paid creditor to remove collection account. I was not able to get adjustments made on these accounts via regular GW letters to the companies so I just sent out GW requests to CEOs today. fingers crossed it works. Emails have been hugely more successful for my needs on my accounts. I was able to get Dish network to delete and WE Energies to delete. I am still trying to get the student loans to delete since they are 10 years old and now paid in full. 

3) Get two accounts that are past SOL removed(April) I sent letters to both collection agencies. Waiting to hear back. Requested debt validation and proof the accounts were not past SOL. I know both are so waiting for them to make a decision to remove the accounts. May: I didn't get anywhere after sending out 2 letters so I contacted the Credit Bureaus and submitted a dispute. I got a letter last week that the accounts were removed. YAY! 

4) Maintain less than 10% utilization on Rev accounts. I am at 28% which is down from 53% last month. Hoping by next statement date Utilization will be >10%  I have paid down all my cards. I have one card that reported at 20.21/750, another at 1.79/300 and my one that reported at 200/600. That should bring my overall util down a lot compared to last month. 

5) Get mortgage scores up to 640. When May Scores Drop beginning of June I'd like to see at least a 15pt increase across my scores. Work in progress. Mortgage scores went up from April.  Not there yet but getting better. 

For Me Starting FICO 8 Score 4/1/18 EX 599 TU 602 EQ 609
Current FICO 8 Score 6/1/18: EX 620 TU 617 EQ 623
Beginning Mortgage Score 4/1/18: EX 537 TU 592 EQ 578
Current Mortgage Scores 6/1/18 EX 607 TU 601 EQ 613
Hubby Starting FICO 8 Score 4/1/18: EX 505 TU 543 EQ 484
Current FICO 8 Score 6/1/18: EX 581 TU 581 EQ 569
Beginning Mortgage Score 4/1/18: EX 494 TU 512 EQ 548
Current Mortgage Scores 6/1/18 EX 577 TU 598 EQ 582
Goal Score 7/1/18: 640 Across the Board


Take the myFICO Fitness Challenge
Message 10 of 16