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May 2019 Check-In Thread

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Valued Contributor

Re: May 2019 Check-In Thread

Just a small update:

I did get my deposit account with NFCU.  I'm busy getting it set up for direct deposit.  I'm in no hurry to get any of their products, but I like having the availability.

And I apped for the AMEX BCP, which was one of my goal cards.  I was originally going to wait until Sept, but the SUB was good, and it all worked out!

I closed my Opensky CC, which was my starter card.    It was great for what it was, but it feels so weird that I've gone from "no one will approve me" to "I don't need you anymore" and closing cards!

I still have managed to keep myself from the siren song of CCT/Experian, so I haven't pulled my reports this month.    I am pretty sure there have been no changes to my score as I haven't crossed any known or significant UTI threshholds or aging threshholds.   AMEX will probably take a couple of months to report, and I have enough INQs on EX that I doubt one more really made much of a difference Smiley Happy

Since I had my EX EE snafu, I'm going to try something to get that fixed in a roundabout way.  I won't go into details because I want to see what happens first  😆   Wish me luck, I'll give a full report if anything interesting happens.





Garden goal: keep on keepin' on until 2020.
Message 31 of 45
Established Contributor

Re: May 2019 Check-In Thread

Well done, @calyx!
I too used to be pretty obsessive about CCT and now I'm at the point where, "meh", I only have the need to check it once a month.
Starting Score: EX 641 TU 631 EQ 669
Current Score: EX 714 TU 718 EQ 713 (EQ9 735)
Goal Scores: 750


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Message 32 of 45
Established Member

Re: May 2019 Check-In Thread

Hi all...Take it easy on me, this is my first time on the boards, I hope I am doing this right! ;D

I am rebuilding after a BK, after many years of struggles. So, I am here to keep myself accountable and focused. 

I have been reading a lot and felt it was time to jump on board. 

This month marked 9 months post BK and 7 months of rebuild time. I got my first big positive with my Disco graduation and CLI, so YAY! I need to garden so that is my next feed, LOL! 

I am excited to grow from here! 

Adding info to my siggy is my struggle. I'm a work in progress all the way around. Ha!

 




Starting Score: 561
Current Score: 644
Goal Score: 755


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Message 33 of 45
New Contributor

Re: May 2019 Check-In Thread

Hello new_start755

welcome to the fountain of knowledge here at the home of the MYFICOFORUM. Im still new here myself. But trust me if there is anything 

and i mean anything u want to know, these guys have the answer and i dont jist when i say that. Ask and knowledge will be given to u. 

congrats on the rebuild so far. Its a process. 

again Welcome. 

Message 34 of 45
Established Member

Re: May 2019 Check-In Thread

@excop1 so great to know. I’ve been a stalker so, I’m ready to participate! Hee hee.
Thank you for the warm welcome, I look forward to continuing my education. 😄



Starting Score: 561
Current Score: 644
Goal Score: 755


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Message 35 of 45
Moderator Emeritus

Re: May 2019 Check-In Thread

The time has come when for once I was able to achieve a FICO Score of 850 from Experian, Equifax and Trans Union. It only took me from 2001 to 2019 to do it. Now my motivation was personal with no specific credit needs in mind. As most of you know, scores at 740 or even 720 are realistic and generally yield good quality products. Also, I will loose three old accounts dating back to 2001 that will make my next oldest accounts 2006 so there will likely be a reduction in all of my FICO Scores. From eighteen years to thirteen years which will hurt my scores but in reality, should not alter my ability to obtain quality credit products.
Starting Score: 000
Current Score: 850
Goal Score: 850


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Message 36 of 45
Valued Member

Re: May 2019 Check-In Thread

Just an update: paid off my CapOne QS before the statement cut and requested a CLI the day after. I got the "letter in 2-3 days" message. I'm certain that means I was not approved so I'm feeling a bit frustrated. I think I'm going to just charge spotify and amazon prime to this card then have it autopay and keep it sock drawered. I'm quite confident that my account is bucketed or maybe Capital One just doesn't like me lol I have my Discover secured card on the way, anyway. I opened it at $200 but I wish I started higher so I could make it my main. After 31 days I'll add a nice deposit to it. I'm looking forward to advancing with Discover

Starting Score: 541
Goal Score: 685


Current FICO8:

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Message 37 of 45
Moderator Emeritus

Re: May 2019 Check-In Thread


@excop01 wrote:

Hmmm todays update!!!!

Wow, seems like i cant win for losing. So i traded in my old car for a new one, and it just reported.  i didnt realize i was actually closing an acct. and boy did i take a hit for that.Also my self lenders acct just closed, cause i finished a year on that, so thats another closed acct. 

 

Now i thought that completing a acct for several years would look good on me, but i see thats not the case. I dont want to be 80 k in debt for any reason, but i see now i kind of have to be in some major debt for my acct to build a major score. I went from 687 tu 686 exp 668 eq

to 644tu 664exp 654 eq, all because i paid off two accts. 

 

Ok enough typing for me today. all this typing and stressing is bumming me out. so imma need to go get a drink and get high for a few hours to help me get over this. 

Thanks community for listening to all my rants.  talk later. 


@excop01 actually what happened was just installment utilization changes.

 

If you'd mostly paid off that old car and you certainly had that self-lender loan open almost paid, you might have moved one or even two breakpoints... and that second breakpoint is worth 20-30 points on FICO 8 since you opened up a new loan.

 

There's zero penalty for paying and closing an account under any FICO algorithm, other than revolving utilization metric changes in the margin if you're carrying balances.

 

I have a mortgage and an auto loan, so I'm "in debt" but revolving wise?  Grand total of $536 showing as of right now and I already cut the check for it weeks ago... if I didn't have either the mortgage or auto loan, I could play installment utilization games and get those 20-30 points tacked on too for that matter and have basically $0 outstanding debt.  

 

There's a bunch of random things when it comes to optimizing credit scores to be sure, but being in debt isn't a requirement to get a good score, just use credit occasionally and PIF and enjoy everything that comes from not only not being in debt but also maintaining a good credit score.




        
Message 38 of 45
Member

Re: May 2019 Check-In Thread

hello again   so can i use either my target card for the azeo and or the synchrony car care ( gas for auto basically ) and leave the rest at zero?

does it hurt me to have them sitting at zero?

does it help to have 6,100.00 in availble credit and only be using maybe 30.00 in gas every week ?

 sorry i am trying everything i can think of to get my score up  we were approved for a home loan for 150,000.00 pending my wifes student loan comming out of collections (hopefully in 5 months) and she said my score was at 665 a combo of all 3 but i want 700 to maybe get a better rate ?

Message 39 of 45
Moderator Emeritus

Re: May 2019 Check-In Thread

When it counts, and by that I mean 5 months from now where you are going to take a swing at the mortgage again, I would have a small balance reported on the Cap 1 (like 5 bucks) and everything else at 0.

Synchrony cards I would zero out a few months before that cause there are some strange reporting idiosyncrasies they have.

It doesn’t matter if everything is at zero now, what it only counts when someone is looking at your credit: so use whatever for 3 months, then start managing balances to AZEO using that Cap 1 card (least likely to be strange, mortgage is safety bear credit frankly and Cap 1 is a National bankcard lender and Synch is not) and stay in that credit report config until you have keys in hand.

Don’t open anything and don’t close anything, just sit on your hands and when it’s time to apply for the mortgage be as pretty as possible credit wise.



        
Message 40 of 45
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