First post here!
I've only been reading the boards for a week or so but I've already learned a ton. Looking forward to learning more.
Goals are pretty standard - I'd like to get to 750 by this time next year and possibly 800 club thereafter. Starting at 680
(If I replied to someone, sorry. I'm not sure how to create my own reply to the thread lol)
Well, in short, I filed chapter 7 in 2018 and was discharged 5/18. I was initially going to be a "cash only" person since I was very irresponsible with credit my first round. After filing for bankruptcy, I decided to start budgeting every month and only with cash I had and in doing so, I managed to uncover my emotional spending habits and how I'm a lot more spontaneous in spending than I thought.
I started my credit rebuild in May 2019 and my scores were in the low 500s. Currently they are now EX: 607 | EQ: 591 | TU: 582. I can't say it's been the easiest thing trying to cap myself from overspending on credit cards, but since I check in with my budget weekly, I rarely ever overspend so much that I can't pay off my balances in full each month.
I'm now 6 months into rebuilding and I only have THREE credit cards (that's a big achievement because my first round with credit cards, I had SIX cards when I was 6 months into using credit )
I have two secured cards and one unsecured card with Discover and Capital One.
I've found that I maintain my credit cards the best when there aren't so many of them to look after. I feel like that's what really started my downfall the first time (managing six balances and realizing that I overspent by hundreds of dollars ) so I've been trying to be really careful about the types of cards I apply for and how many I get.
THAT'S painfully hard because I love applying for credit cards and getting approved lol.
Overall, I just want to increase my credit score... well, 2019 is almost over now
So I guess, by the end of 2019, I'd like to see all of my scores over the 600 threshold! (currently just waiting for Transunion and Equifax) and I feel like that's pretty doable.
My overall goal at the moment is to get my credit up well enough to qualify for a really good premium travel credit card. I'd REALLY like to get the Chase Sapphire Reserve but I'm not sure how available that is seeing as though I iib two Chase credit cards. We'll see, maybe 2020 will be a good year?
Anyway, I'm excited to join this challenge! I've lurked on MyFICO for awhile now and I'm finally back at it! Just being a lot more careful this time. Best of luck to everyone striving to reach their financial goals!
Pulled my reports today and all three are up! I've offically regained the points I lost during my mini app spree. Scores are going in the right direction so I got nothing to complain about. To GOD and myFICO'ers be the glory