November 2020 Check-In Thread

[Kenny]

This year is flying by! There have been so many people who have been brought to the poverty line or below due to this pandemic. Remember to be patient with yourself, realize your limitations, and hang in there. You are stronger than you know and you can weather these situations with the right counsel, decisions, and fortitude. If anyone has any questions regarding their credit situation, please utilize the forum -- we are here for you and want the best. Now on to our standard monthly messaging:

I know you are all hard at work with your credit goals.  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-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! 

[Anonymous]

Happy November MyFico, fam!

Here is to hoping we all get to meet our financial and credit goals even during the quickly up and coming holidays!

I know this will be a month of slow progress in handling the still outstanding CAs that me and my SO have, as I have my annual "mandatory" vacation coming up, which means, mostly unpaid time off. I have an unusal job with unusual pay and employment requirements lol

A whole 5 weeks off, exciting, right!? Yes and no. While I greatly enjoy spending the entire holiday season (from exactly Thanksgiving Eve through New Year's Day) with my family, the mostly unpaid aspect always makes me nervous, especially when we had done so good saving, but had to spend most of it on SO's dental work that couldn't be put off another moment.

I had hoped this year's "vacation" would be a much more comfortable one, financially, but we will not be as comfortable as I had planned. So, finances and family before fico, as we say around here. Any spending money on old derogs will have to wait until I resume working after the New Year.

I will be much more motivated once the cash flows again, since passively (without spending a dime), many old derogs will be aging off naturally, with a nudge (EE), or through completion of several SL rehabs. I hope to see some score improvement at the end of vacay since the bulk of baddies will be gone and I will be ready to spend some cash on the handful of CAs that PFD and perhaps start working on SO's unpaid CO.

Now I am off to EE 2 baddies off of TU!

Stay safe everyone!

[Anonymous]

Hope all of you are having a good Fico fall and are able to see your credit goals and are able to work towards them!

As we slip into November and snow falls for some, think about what you might do during this month to continue on your successful credit journey.

For me there is no planned card closings or new apps. Will continue to pay down on my home improvement debt.

Best wishes to you hard working MyFicoers

[tricie17]

I am trying to get my bills paid and do some saving for the long haul.  My credit is moving in the up direction but slow.  I have some collections that I am paying down.  The next year 2021 I plan on being debt free or close and possibly have some real estate somewhere.

[M_Smart007]

Hello Everyone,

Just checking in for November. Hard to believe that Christmas will soon be upon us.

Gardening for now, trying for that elusive 800 FICO's across a three CB's.

Glad to see that @Anonymous is awake and probably shoveling snow

Wishing everyone a great November.

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[EverForward]

I've been keeping a low profile on CC apps and cli requests, but it seems this isn't helping increase my scores much.

My last app, BBVA, was early June this year. It seems my scores have plateaued in the 600's. I have gently but actively utilizing my 4 CC ($5,750 TCL) every month, and only reporting 1-3% utilization, then PIF once the statement cuts.

My secured Discover should unsecure early next year, hopefully with a nice SL. My secured NFCU converting to a CashRewards last August, I believe I am more than safe to app for a NFCU More Rewards anytime now but I'm inclined to wait until early next year. 

My Self loan isn't PIF until Jan 2022 but I do plan to convert this to a NFCU SSL next year prior to that term.

[M_Smart007]

@EverForward, You are doing great! ..

Score increases do take time, ask me how I know?

[EverForward]

Thanks @M_Smart007 🙂

[CreditBones]

Hello myFICO ppl!

My myFICO Fitness Challenge officially began last month, when I finally subscribed to myFICO monthly monitoring, and got to know my real scores.

Starting FICO Score 8 on Oct 1, 2020:

EQ: 655

TU: 688

EX: 797

RI: 51 / 2 RF (1 for non IL activity, and 1 for "High % of AU accts" (60% / 2 own CC, and 3 AU CC)

October was very active;

• new $5k SP NFCU SSL

• $8k SP CLI on BCP

• $700 SP CLI on WF VISA

• new $5k Card

• new $5k Disco CB

• Amex CM (denied) Update: Approved in Nov 17, after recon letter sent Nov 8.

But, all that activity was part of my plan to thicken and strengthen my credit file.

Some of the new accts/HP have already impacted the credit scores:

October 8:

EX: 780 (-17) "New inquiries were added" by Amex and Disco.

October 21:

TU: 682 (-6) "New account" reported by Disco.

October 22:

EX: 731 (-49) "New account" reported by Disco

Oct 31 status in reference to Oct 1:

EQ: 655 (no change)

TU: 682 (-6)

EX: 731 (-66)

RI: 51 / 2 RF (no change)

My current scores as today reflect 3 positive changes since November 1 (and more changes are to come, "good" and "bad". But really, it'll all be good in the end).

The RI should change (negatively, due to the HPs, and the hit to the AAoA), but the no-IL RF should drop when NFCU SSL starts reporting. However, I am not expecting the "High AU acct %" RF to drop with the Card and Disco, which puts me at 43%, because I have read that even with 33% that RF persists. Update: The red flag should drop due to the Amex CM approval + dropping as AU from the Amex Gold and Cap1 QS! That would put me at 1 AU CC out of a total of 6 CC (17%).

But I will leave those details for the December Check-in thread, in the summary of what happened in November.

My goal is to be above 799 on (((all))) FICO scores in the next 3 years. I had already touched 800+ on several of the EX scores last month, so I am positive that I will harvest my goal while gardening with a passion!

Happy November, and Happy Holiday Season to y'all!

[GApeachy]

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@M_Smart007 wrote:

Glad to see that @Anonymous is awake and probably shoveling snow

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.....hope he remembered to close his new windows too.

Happy November to you @M_Smart007