@Anonymouswrote:Hey there everyone, first post here on myFICO and decided I'll jump in on the challenge after looking up some stuff and getting a new job.
I haven't bought any reports for the site, but B of A claims my score to be 659(Transunion only?) as of today. I only have a $300 secured card through B of A but I do have two main goals. My main goals this year are to get two main cards for mostly essentials such as car work other bigger-ticket items. These are cards for America's Tire, for tires I will need in the next 1-3 months; and a B of A Cash Rewards card with the 3,2,1% rewards set up. Any recommendations are definitely useful, and this is my plan so far.
1. Pay off the secured card, Credit Karma estimates my score will be ~710 once I do, and ATM my actual score from B of A is about 40 points higher than CK's current estimate.
2. Get America's Tire Card - I'm going to need them soon and wanted this card for a bit anyway because I do usually get tires for my car that don't have high tread life due to being higher performance.
3. Get Cash Rewards Card - After waiting a bit for the hard inquiry from the AT card, I'm going to try for the Cash Rewards Card. I just feel I would like to have a card for in case any bigger-ticket items appear suddenly that are important enough to get into debt on. (Car repairs, etc.)
Pm or comment any recommendations that any of you guys have, I'm only 23 and know only so much about this stuff.
Welcome, Godfather1376!
I can vouch for the America's Tire card. I used to have it before my BK, and the promo financing is definitely helpful, but you will need to figure out how much per month to pay to pay it off before the financing terms are up, otherwise you pay all the interest from day one. 
Also, you can get some great cash rebates in the form of pre-paid Visa cards if you buy the right tires. Always nice to get money back! 
The BoA card I don't have specific experience with, but it is a card I'd like to have myself someday. I burned BoA, so I'll have to be patient. But the cashback structure seems nice!
Okay, this is the most important advice I will give. Start building an emergency savings fund. I finally started about a year and four months ago, raided it in June '17 for a auto down payment, and haven't touched it since. An emergancy savings fund is crucial to financial well-being, so you don't have to create debt when those emergency bills/costs come up. And they will! I started mine with an online savings account that has higher interest than normal. It started at 1.05, and is now at 1.20. I have a percentage of my paycheck direct-deposited straight into the account, so I don't even miss it. Start small if you have to, but start socking something away each month.
Please feel free to ask any questions. I'm not an expert on everything, but I know a little bit. And I'm not scared to tell someone I dont' know the answer if I really don't. It's important that you have sound information.
Looking forward to getting to know you and to seeing your journey unfold!
@Anonymouswrote:Hello Everyone!
I've essentially had a divine intervention and a reality check and it was time to fix my credit. My girlfriend and I are advancing in our careers and possibly moving to California next year. We both need to work on our scores. I'm currently at a 589 with a lot of negative remarks, so I'm hoping that by end of the 2018 year I'll be able to land a 650 or 700. I've basically fluctated from a 433 to a 604 and now back down to a 589 after getting approved for a car loan. Realistically, I don't know how possible it is to get past 600!
Hi, SweetPlantain! Welcome to the challenge! Your scores will bounce back with time and regular payments after your auto loan. But getting the baddies removed will help most of all. I have virtually no experience with that, as my only baddie is BK and that won't go away until it does, lol! But, if I were you, based on what I've learned on here, I would start exploring the "Pay for Delete" or PFD avenue with those creditors you have baddies from. It's basically offering a payment in exchange for them deleting it from your CRs. A simple search on here will get you tons of info, as well as visiting the Rebuilding Your Credit subforum.
Is there any specific reason you're planning to move to California? Probably career, since you mentioned that, I'm assuming. I am a Cali native, so I can offer a little insight, although it can really vary depending on what part you're planning to move to. California definitely has everything you might want geographically speaking. It is really an awesome place to live.
@Anonymouswrote:I have had a rocky couple of years and my credit score went from a 807 to 527 EX 569 Equifax 572 TU. I just recently was finally able to get some credit cards...
Discover IT (secured) $300 CL
Capital One Platinum (unsecured) $300 CL
Credit One $300 CL
Nordstrom $500 CL
I was shocked I was able to get these! I make over 80K a year so having cards and paying them off every month is not going to be hard to do. I would like to be able to buy a house and I don't know how long its going to take! I would love to learn here how to get my credit scores up in the least amount of time. My goals are in the next year:
-Bring my score up to at least 675-700
-Get Pre-Approved for a mortgage!
-Get an Airline Points Credit Card (I Travel a lot)
Any advice would be great!
Hi, creditchamp2017! You have a great lineup of cards to build up your credit profile and scores! If you are looking to a mortgage in 12-24 months, just utilize and pay your cards each month to build that positive history. A good rule of thumb is to not let more than 10% of your limit post as a balance on each card, then once it posts, pay it off. This will show that you're using your credit, but paying it off each month and not letting your utilization get out of control.
This thread will really help you out (In fact, it's how I discovered myFICO in the first place). Nevermind that you don't have a BK, the principles will still apply to building your credit score: HOW TO: From BK7 discharge to 700 in 24 months or less! One key part of a higher score is having an installment loan, and this thread does a good job of explaining how to do that, just dont' get hung up on using a particular credit union, just use one that is convenient for you.
Anyways, welcome to the challenge, and I cannot wait to read your mortgage approval thread someday!
@Anonymouswrote:How do you know when the credit card companies report to the bureaus???
It is after your statement cuts, usually within a few days. But different companies can take longer than others.
@UDNS_Ericwrote:Well, good news, of the two delinquent accounts on my credit reports, one was removed from the negative account section of my report today recently and I have seen the upside. When I first signed up at the start of the year for this challenge, I was sitting roughly at 760 aross the board. Today, I am at the following:
EQ: 806 (+42 from the start of the year)
TU: 766 (has yet to update)
EX: 791 (+31 from start of the year)
Sadly, my last negative account wont fall off my report until the early 2020's, but if I can remain at the status quo from here on out of my credit report life, heck, I'll be a happy clam.
Eric
Congratulations on your progress, UDNS_Eric!
@Anonymouswrote:
My first official post yay! I’m glad I found this forum. Currently monitoring all three scores using My Fico. It’s been a great help just knowing where you stand with the bureaus, however having the added support from the forums I’m sure will prove just as beneficial.
I am currently in the home buying process, living in Florida but purchasing in Texas. It’s been so far challenging but in a good way, I’ve learned a lot and each day takes more patience than the last. What’s important is that I have a goal, a plan and the tools and resources to achieve that goal. In the end that’s all we really need right?! Along with some elbow grease of course.
Current Goal: pre approval for Mortgage and score of 700
Welcome, Padawan86!
Congratulations on your mortgage pre-approval and buying a home! I hope the process goes smoothly with no hitches.