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Take the myFICO Fitness Challenge 2020!

Lucifer
Frequent Contributor

Do I need a subject? I don't think I have one.

:::Breathing in deeply::::   ::: Sniffing real big::::

 

Smells like a brand new year in here!   I love that smell !

 

Hello and happy new year    ----    big goal for this year - move closer to and maybe get a mortgage.

 

Small goals - no inq's, no apping and buying a full slate of MYFICO scores in April after my two news cards reach the one year mark this March.

 

And

 

Hanging out with you fine folk and hearing about the challenges and success of everyone's journey.

 

2020 -  LFG !!!!

Stay Liquid My Friends...


Starting Score: F8 3xx
Current Score: F8 789
Goal Score: F8 800


Take the myFICO Fitness Challenge



Message 41 of 255
JBarr1
Established Member

Re: Take the myFICO Fitness Challenge 2020!

My goal for 2020 is to pay $750-$1,000 a month on a credit card where I charged home upgrades/repairs. Yeah I know it was a dumb thing to do but most of it was for cruicial repairs and I didn't have the cash or Line of Credit at the time. I'm praying that keeping up with this strategy will raise my FICO score significantly. I applied for a LOC but was denied for bank card utilization.  TU 709, EXP 714, EQ 718.

Message 42 of 255
Dinosaur
Moderator Emeritus

Re: Take the myFICO Fitness Challenge 2020!

@JBarr1 Your goal of hitting you credit card debt hard makes sense if you can spare the funds. Life happens and sometimes it pushes us where we don't want to go!

Understand your quandary, keep working your credit. Found for myself credit is not a race even though I got impatient.
Starting Score: 850
Current Score: 850
Goal Score: 850


Take the myFICO Fitness Challenge
Message 43 of 255
newfossil
Valued Contributor

Re: Take the myFICO Fitness Challenge 2020!

My 2020 goals 

1 - Garden -After a recent mini app spree I've decided to garden until at least Dec 2020. Letting my accounts age and tending my garden.  

2 - Get all reports clean. Currently have 3 baddies, but have a plan will work on. I am hoping that besides the obvious results of getting a clean report, it will add the benefit of keeping my mind off app-ing. 

3- Get my utilization down to 8.9%  I've been working on this, and will continue. 




Starting score - May 2018

April 2021

AAoA - 1 year 6 months
Message 44 of 255
MemoryLane
Established Member

Re: Take the myFICO Fitness Challenge 2020!

Long time lurker, first time poster. Trying to learn to do things I should have learned to do 20 years ago. Why oh why don't they teach this stuff in school? Taking control of my credit situation is the only New Year's Resolution I will ever make again.

 

At the beginning of 2018 my scores were in the low 500s, thanks to defaulting on credit cards, all of which went to garnishment and took years to pay off. At this point, my revolving credit history was more of an obtain credit, max credit, go to collections, get sued, repeat type thing. But, that's all behind me and off my reports. I was able to weasel into a car loan in mid-2018 that no one wanted to give me while my score was at 585. I'd been without a car for 10 years, and had no cash, but I needed one to help chauffer my aging parents to their appointments, and I needed to start building actual credit for a move in the future.

 

Since then, while reading some things I'd seen around this forum (I want to be a gardener too!), I went overboard and obtained 5 cards (3 "real" cards and 2 store cards, and still have a paypal smart connect account from 2015) with a $4250 total credit limit across them all putting me around the 700s. However, I have not learned my lesson and am still not a responsible credit user.

 

In 2019, I had 7 hard inquiries from 2019, netting 6 lines of credit in the span of 3 months (the 7th denied me because of the inquiries, oops, and thus starting my score decline). I amassed $3900 in credit card debt across 5 accounts, a $1500 personal credit line (for a computer, which I needed, but I stared at my approved credit line with starry eyes and took advantage of every penny of it, at a 29.55% APR, also oops). High credit usage has tanked my score down to the low to mid-600 range. In addition, I have an upside down loan from vulture financing for my car ($206 for 66 months on a $4k car with a $2k trade in value, beggars can't be choosers, no one else would even entertain me), and I won't get into the student loans from 10 years ago for a degree I didn't complete (but is 'current' since my monthly amount due is $0). TransUnion is the only report that shows 1 negative account, which was paid in full the month after going to collections (thanks, Sprint), due to fall off this May. But, I've never had a late payment since 2018, even if it's just paying minimums, and every account currently on my report has 0 late payments, so progress on being responsible is being made, I suppose. 

 

My goals for 2020:

To eliminate the balance on at least half of my cards to put them in that garden I keep reading about, and get below 30% total credit usage for the rest. I will be putting the snowball into motion this year to achieve that.

To maintain my perfect 100% on-time payment history.

To learn how to use credit responsibly, including not trying to apply for every card I see. (I really like applying for them, it's a problem)

To set myself up to make goals that will benefit me in the future, instead of constantly trying to catch up from the past.

Currently simulators show my scores could be around 800 at the end of the year, if I pay down my credit card debt and keep up with the monthly payments for everything. I get discouraged easily, and I still know I'm not all that responsible, so I'm trying to give myself some wiggle room with a goal of 740 at the end of the year.

Starting FICO8 Score: Jan 2020: EQ648|TU648|EX660
Current Score: June 1 2020: EQ765|TU745|EX763
Goal Score: 740


Take the myFICO Fitness Challenge
Message 45 of 255
CLInotDUI
New Visitor

Re: Take the myFICO Fitness Challenge 2020!

Hi Everyone, 

 

This is my first myFICO Fitness Challenge! I'm 26 years old and started my career (105k/yr) with poor credit (550) due to immature mistakes. I spent the last two years wronging my rights to the best of my ability. Now, I'm at 635 Equifax 700 Transunion and 686 Experian which isn't the greatest, but I'm doing what I can still! 

 

The main drawback is that my mother cosigned a sallie mae loan and missed 8 payments on two loans which really is the factor in denials I face. However, I took over the account and have made on-time payments for over a year now. I'm hoping to learn the ways of the credit lords in the myFICO forums to gain some wisdom now, so I don't ever make the same dumb mistakes going forward in life (at least in credit decisions)! I look forward to starting this journey with you all! 

 

 

Starting Score: 673
Current Score: 673
Goal Score: 740


Take the myFICO Fitness Challenge
Message 46 of 255
Fireefly
Established Member

Re: Take the myFICO Fitness Challenge 2020!

2020 is going to be my year to clean up EVERYTHING!

I went through a divorce in 2018 and my credit was heavily damaged when my ex and I made verbal agreements as to who pays what and he didn't hold up his end of the bargain. Since the accounts were in my name (I've always been the bread winner) I am now left to clean up everything. I would love to get a mortgage middle score of at least 580 at this point as later this year we'll either have to move or buy this house. My current middle score for that is 546 - It was 532 about 2 weeks ago before I started my damage repair mission so I think it may be possible, we'll see...

 

It really boils down to being almost 50 and getting my fiscal life in order ya know?

Starting FICO 8s: | 11/19 | EX 566 | TU 559 | EQ 548
Current FICO 8s: | 10/21 | EX 688 | TU 691 | EQ 665
Goal Score: 700

Take the myFICO Fitness Challenge
Message 47 of 255
JBarr1
Established Member

Re: Take the myFICO Fitness Challenge 2020!

Hey Dinosaur,

Paid $750 in January, paid $750 so far for February and will pay another $250 next week.  Trying to keep in line with my plan to pay off that credit card. Even at $1,000 a month it will take me some time though. I'm going to try for $1,250 per month and see if that works for if I can pay even more. It just amazes me how easy it is to charge something and how much effort has to be made to pay it off.

Message 48 of 255
jbvcompass
Member

Re: Take the myFICO Fitness Challenge 2020!

Hey Everyone,


I’m excited to be here and have already learned a lot.


Long story short, I went through a bad divorce about 4 years ago and my credit was collateral damage. I decided to ignore my credit issues due to everything else going on. Fast forward to today… I now need to cleanup my CR, to raise my FICO score, so I can be in position to buy a house in the next year or two.


Thanks!

FICO 8 (2/6/2020)
Equifax: 577 - TransUnion: 600 - Experian: 568

2020 Credit Score Goal
Goal: 680


Take the myFICO Fitness Challenge
Message 49 of 255
AllZero
Mega Contributor

Re: Take the myFICO Fitness Challenge 2020!


@jbvcompass wrote:

Hey Everyone,


I’m excited to be here and have already learned a lot.


Long story short, I went through a bad divorce about 4 years ago and my credit was collateral damage. I decided to ignore my credit issues due to everything else going on. Fast forward to today… I now need to cleanup my CR, to raise my FICO score, so I can be in position to buy a house in the next year or two.


Thanks!


@jbvcompass   Good luck on your journey.

 

Free mortgage scores

Message 50 of 255
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