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Take the myFICO Fitness Challenge 2014!


Re: Take the myFICO Fitness Challenge 2014!

Happy New Year Everyone!!!!

So after lurking around for a while and finally starting my credit journey in December, I am all in for the 2014 challenge. I made a ton of mistakes when I was young and got every credit card that came with something free, didn’t pay them on time. My parents helped bail me out of debt, but I didn’t learn my lesson and basically did it all again. After finally getting my credit up to 500 {I know its not high at all} I decided it was time to make a HUGE change. I want to buy a house/townhouse either in 2014 or early 2015 and I know that is not ever going to happen unless I fix my credit. So when I started in the month of December I pulled all my reports to find a ton of errors and started my journey.


For 2014 the goals I have set for myself are:


-I plan to create a budget and track my spending all while building my credit up again.

- Increase my 401K at work from 8% to 18% if possible. Start investing.

- I want to pay off my {2} student loans that total to about $50K.

- Pay down current car loan from $20K to about $10K if possible. Or seek a way to get a lower interest rate

- Get all credit debt to about 5% utilization {should happen before end of Jan 2014}

- Continue to dispute the items that are not correct on my credit report. And do monthly checks to see if things are updating accordingly.

- Get an AMEX card. {I know it is a semi-dumb goal. But I really want one}. In the Garden until June 2014 to make this goal happen.


Wishing everyone much success this year; excited to be part of this journey!!! 

Starting Score: 530
Current Score: 638
Goal Score by 6/2014: 750

Take the myFICO Fitness Challenge

Message 11 of 488
Frequent Contributor

Re: Take the myFICO Fitness Challenge 2014!

Hi everyone,


I've been rebuilding for about a year now. I got into trouble in 2009 when I was in graduate school and working full time. I lost my teaching job and lived off my savings for a while, trying to get my mortgage company to help me. They wouldn't and I couldn't get a job of any kind (I was in Rhode Island, which is still suffering a lot). I eventually got a job that meant I had to move to Oklahoma (in July 2010), which cost me $6k. I also put $10k into my condo association as I was trying for a short sale. I wasn't able to sell and it took the mortgage company until March of 2012 to finalize the foreclosure! I was also married at the time to a man who spent, spent spent. When we met, I had $20k in savings, no debt except for student loans, and a FICO score of 740. When we divorced, I was $15k in CC debt and in foreclosure on my home (and my FICO plummeted to 510).



Last year I successfully defended myself against being sued by Portfolio Recovery. At the end of this month, I am defending myself against Midland and hopefully I will win. Unfortunately, I have a judgment from Midland (on a different account) that they won in 2011. I was going through a rough time (mom was dying) and I just couldn't get the energy up to defend myself. That was really dumb of me, but there you go. I still need to pay that judgment (just under $4k).


I don't carry any CC debt right now except to keep utilization around 4-8% which amounts to about $200.


So . . . I need to pay off the judgment and get this collection from Midland cleared up and then I'll be on my way. I do have some late payments on student loans from February 2013 that, as time progresses, will effect me less.


I would love to buy another home, but since I'm only 2 years out of the foreclosure I would have to use the new FHA program and document my job loss etc. For now, I'm trying to take the long view. All the bad stuff will be off my report by 2018 (most by 2017). That's only 4 years. Time heals all right?


For now, I'm committed to my own financial well-being. I'm putting money into savings every month so I have a downpayment when I am ready to buy. I'm also starting a Roth IRA as I don't have any retirement savings and I'm 40 and need to get on that! I expect my score to rise a little as I take care of the collection and the judgment and as my lates age, but I know I'm not going to see above 700 for a while!


Good luck to everyone - may 2014 bring greater financial success and security to all.



Starting Score: 2/2013 EQ 535
Current Score My Fico: 6/17 EQ 745| EX 740 | TU 775
Message 12 of 488

Re: Take the myFICO Fitness Challenge 2014!

Hi all!


I am working to rebuild my credit from dumb choices when I was 18yrs old. There isn't a whole lot of stuff on my credit, so my task is PFD to get the collections accounts off my report and open up a couple secured cards to help rebuild. I've had 3 judgements this past year only 1 is on my CR. I was very surprised to realize I was able to pay off over $4000. So it gave me the push I needed to see that getting out of debt is very possible. My goal is about a 100 point increase by the end of the year so that I can buy a house in 2015-2016.


I signed up for the forums last night and has already received a host of information.

Starting Score: 561EQ,560TU,559EX
Current Score: 561EQ,560TU,559EX
Goal Score: 700

Take the myFICO Fitness Challenge
Message 13 of 488
New Member

Re: Take the myFICO Fitness Challenge 2014!



I have been avoiding taking care of my Fico score for many years now, But with my first kid on the way I understand that this is something that I have to fix now. I was young and uneducated when it comes to credit so I made some mistakes when I was younger, I am 28 now and I have a better understanding of what I need to do. I would like to get into the 600's by the end of this year and payoff most of my debt. I have about $4,000 in total bad debt and I hope to clear that out within 6 months. I have to find ways to get some positive credit onto my file which would help me along (am open to Tips).


I have been watching this challenge for about 3 months now and I have seen a lot of positive outlooks and I am happy to say that I am finally a part of it for 2014!!!!!
Happy New year to all of you and good luck on your challenge.....  

Starting Score: 462
Current Score: 462
Goal Score: 650

Take the myFICO Fitness Challenge

Message 14 of 488
New Member

Re: Take the myFICO Fitness Challenge 2014!

I was a lurker for the 2nd half of the year last year and am looking forward to participating in this year's fitness challenge. I have a pretty good payment history, just high debt, high inquiries and high utilization. Here are my goals for this year:


Pay off 2 of 3 installment loans (one @ 56% Smiley Sad ), and 2 cc's

Maintain low UTIL on cc's after paying off

Limit INQ this year - Skymiles AMEX in december; considering 2 others - Student Loans for MBA and Potential computer for school, only if I qualify for 0%

Make $2000 in additional debt payments

Build $1K emergency fund.


Current FAKOs:

CreditKarma (TU) 597

Credit Sesame (EX) 624



Starting Score: 624
Current Score: EX: 632 EQ: 633 TU: 597
Goal Score: 750

Take the myFICO Fitness Challenge
Message 15 of 488
Valued Member

Re: Take the myFICO Fitness Challenge 2014!

Hey all,


Phew. Words cannot describe the way I feel about this forum. It is truly another blessing in a currently long line of up-and-coming things for me. I am so thankful for each and every person that takes the time to help me out with advice or words of encouragement. I look forward to growing and sharing my progress in this journey of credit.


I have always been quite the mess up, especially in regards to money. I hit rock bottom in 2008 and lost everything. My job, my wife and son, my home, my license and car, and most of all...myself. I was a loser. And I realized that I had had such a great life and limitless potential, but I was wasting it all away! I let drugs and selfishness ruin all great things I ever had going for me. So I decided to put an end to it. 2009 was the turning point for me. I transformed myself into an eternal optimist with an unlimited amount of motivation. I have since found a new lease on life, and am so incredibly grateful for the many opportunities I have come across in the process. Since then, I have been doing absolutely whatever I can to be the best ME that I can be. I am a full-time student with 2 jobs, a full-time single father, coach, Property Manager, Teacher, PTO President, organizer, amongst many other things. It's even got to the point now where I find my plate too full with new endeavors and challenges. I can't help but get excited about bettering myself. Knowledge is power to me, it truly is. And I don't feel like many things are NOT possible, and it's the best feeling in the world! But even now, money is still a challenge for me. And I knew that once I got to exorcising the demons inside of me, I'd have to start correcting and picking up the other pieces of my life. And that is where myFICO comes in. I can't tell you how many times I have dodged the collections calls and letters, and simply ignored them hoping it would go away. After reading this forum, maybe not talking to them was a good thing Smiley Wink. But I can't keep dodging things forever. If I don't change my ways, I can't ever expect things to be different. So I am buckling down and taking care of business.


At this point in time I have zero credit cards, a low credit score, and a number of baddies on all 3 reports. But I am determined to get it taken care of. My goals this year are to not only get my credit scores up past 650, but to get an auto loan and put myself in position to buy a home in a few years after I finish school. I am a full-time Dad now and approaching 30 in a few years. I want to enjoy my 30's and provide an awesome life for me and my son. And improving my credit will be a major step in the right direction. So, here is to a prosperous and successful 2014! May your hard work and persistence provide you the many successes and wishes that you desire. 


Thank You


Starting Score: EQ: 565 EX: 572 TU: 571
Current Score: EQ: 587 EX: 643 TU: 610
Goal Score: 700 Across the Board

Take the myFICO Fitness Challenge
Message 16 of 488
New Contributor

Re: Take the myFICO Fitness Challenge 2014!

happy new year! Smiley Happy

i'm looking forward to getting our 5yr ch 13 discharged soon (by end of Jan would be nice!), as our last payment was in mid-Nov. since we're not making that huge payment to the Trustee now, i can start contributing to a retirement fund. i'd like to obtain another card with a very small limit - hopefully unsecured this time - to help rebuild. i'd also like to request that my secured BofA Visa graduate to unsecured. 

lots of great advice on this site. thank you! i wish you all the best in your journeys to clean credit and high scores. Smiley Happy

Ch13 filed 3/2009 : discharged 1/2014
Starting 2/16/2013:
EQ673 TU667
Current 6/3/2018: EX816 EQ806 TU820
Goal: 850

Take the myFICO Fitness Challenge
Message 17 of 488
Established Member

Re: Take the myFICO Fitness Challenge 2014!



I paid some CC down at the end of 2013.  I am waiting for those payments to hit.  I also disputed some items.  I hope it  helps.  I am having a hard time waiting.  




Apple FCU secured:  3000 CL, down to 864 from 2900

Credit One:  1500 CL, down to 285 from 1500

Capital One:  1000 CL, down to 816 from 911


Capital One will give me a $500 CLI after my first 5 payments and another CLI after my 6th payment.  Credit One will give a CLI after 6 payments.  I hope to apply for a mortgage late Feb or early Mar.  I want to move July 2014.  I am also planning to teach Summer School this summer to help pay off stuff and add to savings.  I will clear quite a bit even with putting my daughter in camp all summer.  


Goals for 2014:


Close on new build townhome July 2014

Apply for a Discover It card

Apply for a new Apple CC and close secured card to release $3000 savings account

Save some of summer school money to pay HOA dues for one year

Make extra payments on car loan


So looking forward to 2014!



Starting Score: 609
Current Score: 682
Goal Score: 700

Take the myFICO Fitness Challenge
Message 18 of 488
Frequent Contributor

Re: Take the myFICO Fitness Challenge 2014!

Happy New Years to all fitness challenge members! I joined the challenge in late November and since then have managed to remove three judgements that were not mine and correct some other inaccurate information on my CRs. My goal for 2014 are as follows:


****OVERALL: Raise FICO scores by 100 points by Dec 30, 2014****

1. Save at least $320 each month

2. Pay all credit card bills on time EVERY time and maintain utilization below 9%.

Use residual income to:

3. PFD off small/medium collection debt (~$800)

4. Pay off USAA AMEX Card (~$2.24K) and Pay off Military Star Card (~$6.4K) by March 2015.

5. Refrain from applying for new credit until at least Jan 2015; ZERO Hard Pulls until Jan 2015

6. Increase CL on Secured Cards to $1.5K each; Obtain CLI on Express Card

7. Send Good Will letters to creditors to remove baddies.

CURRENT SCORES: EQ: 628 (12/14/14); TU: 628 (12/10/14); EX: 636 (12/13/14)--All myFICO
STARTING myFICO EQ SCORE:: 507 (11/2013); GOAL SCORE: 700--(All CRAs); GARDENING SINCE: 10/5/14
Message 19 of 488
New Contributor

Re: Take the myFICO Fitness Challenge 2014!

june 1st apply to another major credit card
hopefully an increase to care credit and vs card
currently 14 negative items between all credit reports
by mid near i expect at least half gone
by end year no more than 3 left
current score  : 560
mini goal ie mid year: 650
long term  720

Message 20 of 488