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Take the myFICO Fitness Challenge 2018!

Community Leader
Senior Contributor

Re: Take the myFICO Fitness Challenge 2018!


@mvrckwrote:

I've been a lurker of the forums here for the past year and it's been a huge help. My credit has changed dramatically since deciding to use advice here full time. 

 

I'm in my mid 20's, low six figures income, started working right out of high school several years ago. I was making $50k/yr from the start and kept my finances in order for the first year, but had started slipping up. Between enjoying investing in entrepreneurial side projects and occasionally living above my means I had ruined my credit pretty quickly. Luckily I didn't actually rack up any significant debt, just some late payments and a couple small chargeoffs. I had let the last month of an apartment lease go unpaid too which left me with a nice $1,600 collection.

 

At that point I was too scared to look at my credit and I couldn't even get an approval for a store card. Living with bad credit for the next several years kept me from racking up any more debt which is good, but I couldn't get approved for a reasonable apartment or auto loan. I only made a few short lived attempts to try to correct it again. I'd get it up to the high 500's then forget about it and max out my only secured card. I'd let my auto loan go into 30 days late all the time and it was just out of control.

 

Finally a year ago I decided it was time to get this fixed. So far I've been able to bring my score from about 450 to a high FICO 8 of 641 last month. I got my auto loan back on track, opened up a QS 1 card, kept my utilization between 5-20% and opened up several store cards to have more on time payment activity to help reduce the impact of those autoloan payments. This site has been amazing in helping bring things back on track. It's really become like a game that strategically track. 

 

Living without credit for so many years has really made me grow an appreciation for having it. What's funny though is that the better my credit gets, the less I actually want to use it. I'm not interested in taking out frivelous loans or being able to finance large purchases on high limit credit cards. My big thing now is earning rewards on cards. I've help my girlfriend who's much younger get a score in the high 700's already and we maximize our rewards and PIF every month so that we can travel more. My biggest goals now are to get into the 700's and finally get a house. 


Welcome, mvrck! Thank you for sharing. You've made some amazing progress, and it's cool to read about you teaching your girlfriend. With how you've taken the knowledge and resources you've found and applied them, it shouldn't take long to reach your goal scores and get approved for an awesome mortgage! Smiley Happy


Current Scores------ EQ 681; TU 660; EX 684 FICO 08--- Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 91 of 262
New Member

Re: Take the myFICO Fitness Challenge 2018!

Hi All,

 

My stats as of March 5th. 

 

  • Experian FICO Score 8 - 607
  • Equifax FICO Score 8 - 584
  • TransUnion FICO Score 8 - 603 

My goal is to get as close to 700 as I can in the next 6 months.. I am not sure how doable that is. I have 4 Cas that I plan on paying off in the next 4 months. I have two Cap1 accounts, one with a 300 (Quicksilver) limit and one with a 500 (Platinum) limit. I also have a loan with OneMain Financial, that should be paid by June.

 

  1. Pay down utilization
  2. Increase line of credit
  3. Garden

 

I hope to hit that 700 number by fall. I am not sure how feasible that is, but I am determined! Also, I am very new to this forum, so forgive me if I am slow to learn the lingo 😊

Starting Score: 598
Current Score: 720
Goal Score: 800


Take the myFICO Fitness Challenge
Message 92 of 262
Community Leader
Senior Contributor

Re: Take the myFICO Fitness Challenge 2018!


@tybird06wrote:

Hi All,

 

My stats as of March 5th. 

 

  • Experian FICO Score 8 - 607
  • Equifax FICO Score 8 - 584
  • TransUnion FICO Score 8 - 603 

My goal is to get as close to 700 as I can in the next 6 months.. I am not sure how doable that is. I have 4 Cas that I plan on paying off in the next 4 months. I have two Cap1 accounts, one with a 300 (Quicksilver) limit and one with a 500 (Platinum) limit. I also have a loan with OneMain Financial, that should be paid by June.

 

  1. Pay down utilization
  2. Increase line of credit
  3. Garden

 

I hope to hit that 700 number by fall. I am not sure how feasible that is, but I am determined! Also, I am very new to this forum, so forgive me if I am slow to learn the lingo 😊


Welcome, tybird06!

 

It sounds like you have a good plan. I'm looking forward to seeing how close you get to 700. Smiley Happy

 

The best advice I can give is regarding your OneMain loan. If it is your only installment loan, you should not pay it off in June unless you get another installment loan to take it's place. Having an installment loan is part of having a good mix of credit which is a component of FiCO scoring, and not having one will actually hurt your scores.

 

If you want to pay off your existing loan, a good way to keep an installment loan in your credit mix is to take out a Share Secured Loan, or SSL. See this thread: http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Secu...

 

I'll be rooting for you to get to 700! Smiley Happy


Current Scores------ EQ 681; TU 660; EX 684 FICO 08--- Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 93 of 262
Regular Contributor

Re: Take the myFICO Fitness Challenge 2018!

How did you add 


@Bella007wrote:

@mvrckwrote:

I've been a lurker of the forums here for the past year and it's been a huge help. My credit has changed dramatically since deciding to use advice here full time. 

 

I'm in my mid 20's, low six figures income, started working right out of high school several years ago. I was making $50k/yr from the start and kept my finances in order for the first year, but had started slipping up. Between enjoying investing in entrepreneurial side projects and occasionally living above my means I had ruined my credit pretty quickly. Luckily I didn't actually rack up any significant debt, just some late payments and a couple small chargeoffs. I had let the last month of an apartment lease go unpaid too which left me with a nice $1,600 collection.

 

At that point I was too scared to look at my credit and I couldn't even get an approval for a store card. Living with bad credit for the next several years kept me from racking up any more debt which is good, but I couldn't get approved for a reasonable apartment or auto loan. I only made a few short lived attempts to try to correct it again. I'd get it up to the high 500's then forget about it and max out my only secured card. I'd let my auto loan go into 30 days late all the time and it was just out of control.

 

Finally a year ago I decided it was time to get this fixed. So far I've been able to bring my score from about 450 to a high FICO 8 of 641 last month. I got my auto loan back on track, opened up a QS 1 card, kept my utilization between 5-20% and opened up several store cards to have more on time payment activity to help reduce the impact of those autoloan payments. This site has been amazing in helping bring things back on track. It's really become like a game that strategically track. 

 

Living without credit for so many years has really made me grow an appreciation for having it. What's funny though is that the better my credit gets, the less I actually want to use it. I'm not interested in taking out frivelous loans or being able to finance large purchases on high limit credit cards. My big thing now is earning rewards on cards. I've help my girlfriend who's much younger get a score in the high 700's already and we maximize our rewards and PIF every month so that we can travel more. My biggest goals now are to get into the 700's and finally get a house. 


Welcome, mvrck! Thank you for sharing. You've made some amazing progress, and it's cool to read about you teaching your girlfriend. With how you've taken the knowledge and resources you've found and applied them, it shouldn't take long to reach your goal scores and get approved for an awesome mortgage! Smiley Happy


How did you add the cards to your signature?

Starting Score: 530EQ, 531TU, 514EX (0/2016)
Current Score: 686EQ, 710TU, 686EX (03/2017)
Goal Score: 750+ (01/2018)


Take the myFICO Fitness Challenge
Message 94 of 262
Valued Member

Re: Take the myFICO Fitness Challenge 2018!

My goal for 2018 is to break the elusive 700 score with all 3 reporting bureaus. Try as I might, I've never succeeded. I'm hoping to tighten up my finances and remain fiscally vigilant to help me. Im hoping 1018 is the year. Lord knows I'm trying.
Starting Score: 650
Current Score: 654
Goal Score: 700


Take the myFICO Fitness Challenge

Message 95 of 262
New Member

Re: Take the myFICO Fitness Challenge 2018!

I am new to the forum and this will be my first time participating in the myFico Fitness Challenge.

 

My current status is as follows:

 

My Fico 8 Scores:

EQ - 663

TU - 640

EX - 569

 

Looking to purchase a home this year, in order to do so, I have to get my middle score up to 620.

 

My overall goal is to increase my score across all the bureaus to a 720+.

 

I will be going through the forum to try to learn as much as I can on how to responsibily use and build my credit.

 

I am looking forward to the journey.....

Starting Score: EQ 663 | TU 640 | EX 569
Current Score: EQ 663 | TU 640 | EX 569
Goal Score: 720 Across All Bureaus


Take the myFICO Fitness Challenge
Message 96 of 262
Established Member

Re: Take the myFICO Fitness Challenge 2018!

Im late but, I am joining the fitness challenge!!! you all are very inspiring with your stories and growth! also, I im writing because I wanted to make sure my signature was on there lol.

Starting Score: 651
Current Score: 651
Goal Score: 720


Take the myFICO Fitness Challenge
Message 97 of 262
New Member

Re: Take the myFICO Fitness Challenge 2018!

First post lurking for a while, learned a lot over the past year+.

 

Goals Establish Business Credit eventually w/o PG.

 

Waiting to make sure I'm under 5/24  to Apply for CIP and CSR  end of April.  

 

Then will contuine to Garden and do some mild Churning with organic spending from my business. 

Starting Score: EQ 639, TU 650, EX 531 10/15
Current Score: EQ 838, TU 805, EX 814
Goal Score: 830+


Take the myFICO Fitness Challenge
Message 98 of 262
Community Leader
Senior Contributor

Re: Take the myFICO Fitness Challenge 2018!


@Washin17wrote:

How did you add 


@Bella007wrote:

@mvrckwrote:

I've been a lurker of the forums here for the past year and it's been a huge help. My credit has changed dramatically since deciding to use advice here full time. 

 

I'm in my mid 20's, low six figures income, started working right out of high school several years ago. I was making $50k/yr from the start and kept my finances in order for the first year, but had started slipping up. Between enjoying investing in entrepreneurial side projects and occasionally living above my means I had ruined my credit pretty quickly. Luckily I didn't actually rack up any significant debt, just some late payments and a couple small chargeoffs. I had let the last month of an apartment lease go unpaid too which left me with a nice $1,600 collection.

 

At that point I was too scared to look at my credit and I couldn't even get an approval for a store card. Living with bad credit for the next several years kept me from racking up any more debt which is good, but I couldn't get approved for a reasonable apartment or auto loan. I only made a few short lived attempts to try to correct it again. I'd get it up to the high 500's then forget about it and max out my only secured card. I'd let my auto loan go into 30 days late all the time and it was just out of control.

 

Finally a year ago I decided it was time to get this fixed. So far I've been able to bring my score from about 450 to a high FICO 8 of 641 last month. I got my auto loan back on track, opened up a QS 1 card, kept my utilization between 5-20% and opened up several store cards to have more on time payment activity to help reduce the impact of those autoloan payments. This site has been amazing in helping bring things back on track. It's really become like a game that strategically track. 

 

Living without credit for so many years has really made me grow an appreciation for having it. What's funny though is that the better my credit gets, the less I actually want to use it. I'm not interested in taking out frivelous loans or being able to finance large purchases on high limit credit cards. My big thing now is earning rewards on cards. I've help my girlfriend who's much younger get a score in the high 700's already and we maximize our rewards and PIF every month so that we can travel more. My biggest goals now are to get into the 700's and finally get a house. 


Welcome, mvrck! Thank you for sharing. You've made some amazing progress, and it's cool to read about you teaching your girlfriend. With how you've taken the knowledge and resources you've found and applied them, it shouldn't take long to reach your goal scores and get approved for an awesome mortgage! Smiley Happy


How did you add the cards to your signature?


You may have to wait until you have permissions to add images to your signature. It is after you get to the rank of "Member" here on the forum.

 

The following thread gives instructions. The only thing different I would recommend is saving a copy of each card image in your "hidden" image album here on myFICO when it's time, then you can use the images in your hidden album right on the forum for your signature pics. 

 

http://ficoforums.myfico.com/t5/SmorgasBoard/THIS-IS-HOW-YOU-ADD-CREDIT-CARD-PICS-TO-YOUR-PROFILE/td...


Current Scores------ EQ 681; TU 660; EX 684 FICO 08--- Gardening since 11/7/18
Beginning Scores-- EQ 632; TU 576; EX 619 FICO 08 (06/13/16) - BK7 discharged 11/2015

Take the myFICO Fitness Challenge
Message 99 of 262
Member

Re: Take the myFICO Fitness Challenge 2018!

Getting started late, but better late than never! 

 

Goal this year is to get a traditional mortgage for our home that we bought via lease purchase 2 years ago.  We have a five year option, but I'd like to get it done sooner rather than later.  At this point, we have just over 10K toward the purchase.  Starting scores are based on high util% and 2 baddies - one CO, 4 years old and 1 30 day late, 18 months old.  AAoA 4.5 years.  I recently dropped util% to <30 and that's why current scores are boosted.  I also just increased CL by adding a Disco it at $2000 SL and a Citi DC at $2300 - neither have reported yet, so I'm hoping for another boost.  Then I will most likely garden until I reach 680 and then get the mortgage.

Starting Score: 634EQ, 617TU, 607EX
Current Score: 650EQ, 641TU, 645EX
Goal Score: 680 across the board


Take the myFICO Fitness Challenge
Message 100 of 262