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Take the myFICO Fitness Challenge 2020!

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LalaJ
New Member

Re: Take the myFICO Fitness Challenge 2020!

Hello,

 

I've been part of the myFICO community since 2012 but this is my first post. I'm looking to buy a house next year and I need to get my points up and my credit file clean up a bit. I have had some previous bumps and bruises but what's open now is good. I plan to share my experiences and learn from you. Look forward to reading your post.

 

Lala 

Starting Score: EQ 545 EX 560 TU 550
Current Score: EQ 595 EX 626 TU 564
Goal Score:  EQ 650 EX 700 TU 650


Take the myFICO Fitness Challenge
Message 111 of 255
Anonymous
Not applicable

Re: Take the myFICO Fitness Challenge 2020!

My goal for 2020 is to be able to apply for a mortgage by the end of this year, in the last 2 months I paid off all 5 of my collection accounts and all 6 credit card balance to zero balances, for the past 2 years I have a 100 percent payment history and I rehabbed my defaulted student loans in 2018 and they are in great standing feb 2020 my mortgage scores were 548 560 and 586 , now 2 months later scores are 583 606 and 628, so really hoping to get to a mid of 660 by the end of this year, updating credit report, getting old addresses telephone numbers and name variations off at this point. So I guess it's just a waiting game, keeping my utilization down to less than 10 and continuing to pay all bills on time and save .

Message 112 of 255
renamariee
Contributor

Re: Take the myFICO Fitness Challenge 2020!

Not sure if I'm able to join in late but my goal is to pay off some collections and get a few unsecured cards. Hopefully going to buy a house in the next year or two so fingers crossed. 

Starting Score: 587
Current Score: 637
Goal Score: 650


Take the myFICO Fitness Challenge
Message 113 of 255
Anonymous
Not applicable

Re: Take the myFICO Fitness Challenge 2020!


@renamariee wrote:

Not sure if I'm able to join in late but my goal is to pay off some collections and get a few unsecured cards. Hopefully going to buy a house in the next year or two so fingers crossed. 


Welcome aboard, never to late to join the rest of us and work on your goal(s). Glad your here Smiley Happy

Message 114 of 255
Anonymous
Not applicable

Re: Take the myFICO Fitness Challenge 2020!

Had a business in 2015 that was operational until 2018, pretty much the bottom fell out. I got a w2 job and have been there since. The business had a fair amount of debt as I was not approved for an SBA loan so lived off the credit cards, paying as much off as possible. Filing taxes and realizing nearly 10k in just interest last year on those cards with half my w2 income going to the minium payment amounts (some of the cards were 0% interest as I would do balance transfers...so it's a pretty penny).

 

I was sick to my stomach, I had enough, filed Ch7 on 3/18/2020 and am already feeling a bit of relife. My FICO & FACO were all very strong as the business cards never reported to my personal report. Really was a tough decision, I believe in paying my debts and staying honest, but I saw no way out.

 

In the BK I am hoping to also give back a car that is about 10k underwater. My wife and I bought a house in Nov 19' which is all in her name, I will be added back to her credit cards as A/U once my case is discharged in June (fingers crossed) and we'll find a new car for her as her's is the one were underwater on. So thats the goal, get a repacement car for her and start rebuilding credit. It may be hard in my name as the corp had the following cards, Chase (burning for 11k), BOA (burning for 6k), US Bank (burning for 15k), Citi (burning for 12k), PNC (burning for 5k). I am hoping to keep 2 cars throughout this case, but 1 is a 'summer only' so it might be hard.

Message 115 of 255
Chosen1
New Member

Re: Take the myFICO Fitness Challenge 2020!

Just getting discharged from a chapter 7 bankruptcy last month. Got approved for 3 credit cards and 1 store card. Scores jumped up but now need to let the new accounts age, and need to pay down student loans. Would like to get a new house built in 3 years. After years of reading threads on this website I'm finally a member and not sure where to start. There's so much great info it's almost overwhelming!

 

498: 700
598: 800
700: 850


Take the myFICO Fitness Challenge
Message 116 of 255
M_Smart007
Legendary Contributor

Re: Take the myFICO Fitness Challenge 2020!

@Chosen1 

Welcome To myFICO Forums and

 

Message 117 of 255
Anonymous
Not applicable

Re: Take the myFICO Fitness Challenge 2020!

Hello!


I am new to myFICO and so far I'm loving it.  As far as my past with credit, I've made some mistakes.  I had a stress spending problem, I'm a single mom, I wasn't thinking before I was spending....I've made some mistakes but I'm here to fix all of it.  I've come a long way.  I was at around 580 a few months ago, and started to do the snowball effect and pay off low limit cards one at a time.  I've since decided to start with my high balance cards and pay them all down to 45%, then to 28% and then go back to the snowball effect from that.  My current goal is to get to the point where I can follow the AZEO method and lower my  utilization to under 5-8%.  I have quite a few store cards with lower limits, and a couple around 1500-2000.  My ultimate credit card goal is to just be approved for ONE high limit credit card through my bank (Citi).  Apart from that over the next year I'm going to be saving up to buy a house/condo around this time in 2021.  I'd like to somehow raise my score a bit if possible.  I've got one baddie I need to take care of and I'm crossing my fingers for a PTD on that account.

Message 118 of 255
GApeachy
Super Contributor

Re: Take the myFICO Fitness Challenge 2020!


@Anonymous wrote:

I was sick to my stomach, I had enough, filed Ch7 on 3/18/2020 and am already feeling a bit of relife.

Rough~but hopefully you're sleeping better and worrying less.  Nothing can understate the "feeling relief" effect of getting out of a black hole.

Hang in there and wishing you and DW all the best! 

My Take Home Pay Don't Take Me Home
Message 119 of 255
GApeachy
Super Contributor

Re: Take the myFICO Fitness Challenge 2020!

Hi all you new peeps that posted ^^^, I read your comments and hope to read some more positive things happening on your reports in the near future.  I am happy to say that I've gained back a few points here and there on all 3 cb's that it compares to before I went and lost my mind on a few app sprees in 2019 and 1st quarter of 2020.  Shew! is all I can say as I was tightening the pucker string a time or two when scores were dropping and bouncing all over the place.

Keep On; Keeping On y'all!

My Take Home Pay Don't Take Me Home
Message 120 of 255
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