Take the myFICO Fitness Challenge 2022!

[Kenny]

Happy New Year to the myFICO Forums Community!

Can you believe we’re entering our THIRTEENTH year of the myFICO Fitness Challenge?!
If you have financial goals, the myFICO Fitness Challenge is the place for you!

What is the myFICO Fitness Challenge?
To take part in the myFICO Fitness Challenge, simply post an introductory note and state your financial goals for the coming year. Are you hoping to raise your FICO Score? Buy your first home? A new car? Get that coveted rewards card? Tell us about what you hope to achieve, and what reaching those financial goals will mean to you. As the year progresses, check back here to report on your progress, talk about hurdles you encounter, or simply reach out for support and encouragement from your fellow Fitness Challengers.

Monthly Check-Ins
To help you stay on track we encourage you to stop by for monthly check-ins. On the first day of each month, myFICO will post a monthly check-in thread for you to talk about your progress, successes, speedbumps, etc. Participation in these monthly check-ins is optional - but encouraged!

First time Challenger?
If you’re new to the myFICO Fitness Challenge, then welcome! To begin, set up your official  MyFICO signature on your Profile page (Go to My Settings➢Personal Profile➢Personal Information). Then just reply to this topic, telling us a little about your financial situation, your goals, and how you plan to achieve them during the coming year.

Returning Challenger?
Welcome back! Please be sure to update your myFICO Fitness Challenge signature, so it directs to the current challenge. If you'd like, you can review 2021's challenge here.

[sznthescore]

My goals for the year is to build my FICO score to at least (good status) 670+ for starters.

Work on  Rebuilding from Suppressed Scores (my latest post). In addition to staying in the garden this entire year and have all of my current cards upgraded/unsecured.

I'll attempt to request cards (3 of 4) that require a hard pull to unsecure around January/February 2023.

Stay tuned for the journey. Discipline is key, so I've been told. Wishing everyone well on their individual journeys. We can do it!

[Kmpaton]

Been tracking over a year and finally make a decent salary but I'm still working on paying off my rampant spending in my 30s.

Ive paid off most of my cards numerous times, but run them back up again. Quite the roller coaster.

[shalimarcat]

  Hello everyone. I am a first time participant in this challenge. I completed a debt settlement program in September of '21 and am currently  rebuilding. My scores started at about 543 and are now in the 600's, which feels great. I have two credit cards and a personal loan. I am in the process of disputing inaccuracies on my credit reports. 

  My goals are as follows: 1) to pay off a collection since it is accurate 2) dispute and resolve two inaccuracies- one is already in progress 3) garden with the cards I currently have for about 4-6 months 4) when my scores improve to the 670's apply for a really good card- I am hoping to get back in with Amex.

[Anonymous]

My goal is to decrease credit utilization, to improve my score.  I have 14 cards - 3 paid off, 3 almost paid off, the rest at 90-98% usage. All cards are unsecured, a standard mix of Visa, MC, Disc, Amex. No car loans, no mortgage, student loan around $10,000.  Zero late payments, zero judgments or bankruptcies... just high utilization.  

In the short term, I will new to buy a new car before 2022 is done (191,000 miles at the moment).  I has a pre-approved car loan from PNC, check in hand, March 2020, but the weekend we were going to buy the car is when the pandemic hit.  I work in healthcare, so I wasn't able to go.  Then the check expired, and I haven't been able to qualify for ANY loan since.  Funny, since the only thing that has changed since then is that my debt has decreasedby 14%, and my salary has increased by 26%.

Longer term, I will need to either buy my current home, or be able to move.  Neither would be an issue if it all my cash wasn't going to pay off cards. 

I am going to end 2022 in a better financial place than now, because I hae no choice, this has to happen. 

[Anonymous]

Little late checking in due to having moved to Florida and having to mobile hotspot until I can get the internet line installed, which could be 45 days.

My goal is to decrease credit utilization, to improve my score.  I have 13 cards - 10 paid off, 3 almost paid off, the rest at 56-87% usage. Working to pay down my personal loan which is 8% paid off now. I have 4 CO accounts that I have started to work on paying off and want to see them all gone by the end of 2022. Still have 5 collections, but they are on the low priority according to my mortgage lender as far as being able to get by VA mortgage in 2023 hopefully.

I am going to end 2022 with higher scores, and looking about ready to buy the home I moved into the beginning of the year, which I have the possibility to buy when ready and being the only person ever to live in this house, I like that idea.

[800scoreplease]

My goal this year is to pay off my only remaing credit card that has a balance currently at 65% utilization. I just found out this morning that I met one of my 2021 goals and that was to reach a 800 score and I did on equifax. Looking forward to being debt free finally after a few years of very high credit card debt.

[Anonymous]

This is my first Fitness Challenge. My goal is to improve my score with the goal of buying a small vacation home in Florida in 2023. 

[Anonymous]

Well, that did not work out as I planned. I started to pay on a $615 charge off that is not in collections and when they updated, my experian score dropped 20 points

[Limitless3000]

My goals for the year is to build my FICO score 8 to 700+ across the board. I have been rebuiliding my credit since a bankrupcy in April 2018. My score dropped down at its lowest to 475 and now I range in the 650's in fico. I am working hard to reach AMEX standards. I hope to get the AMEX this year! We will see.