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.
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.
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.
I originally started the process of getting my credit under control a year ago. I was in the low 500s. Although I made progress, there is still work to be done. I still have student loan late payments that I think will stay for a long time, but in the meantime, I'll keep putting in work so I can finally own a home.
Ive been reading the forums off and on for the last 18 months and got a lot of good information here. It has helped me build my relationship with my current credit cards. I'm 9.5 years post bankrupcy after a divorce, and it falls off in August 2022. Have had two capital one cards for 6 years and stayed away from cards until last year when I got the Apple and Discover, and a Care Credit. Looking forward to increasing my score and addign more cards to the mix.
I had to file bankruptcy. I am looking forward to rebuilding credit and buying new car next year.
Current scores: EX 530, TU 478, EQ 577
First time joining a challenge. I've been working on improving my credit for a year now. We are closing on a home this year, although the loan will not affect me, I still want to have great credit.
I currently have 4 CC's with a 23% average utilization.
Increase my credit score.
Get a better understanding of debt utilization as it seems to be a necessary evil.
I did this last year and it helped me focus on things, keeping things in the forefront of my mind. I did fall off the really updating and keeping track of things in November and December last year because of things happening. Good things mostly.
This year the goal is pretty much the same as last year. Pay off debt mostly credit card debt and now we're working on paying on the recently used heloc for our new roof. We did manage to get all the small ccs paid off last year. Goal is to have 3 ccs paid off this year which translates to about 5k.
We're putting money back for a new to us car. Mine is about 20 years old and 270k miles. The other car is 14 years old no idea the milage on it but it's got plenty. We'll have a new driver next spring so we're hoping to be able to give them one of our old ones for now.
I'm new to the FICO Forum Community, but have been working to increase my credit scores since a CH13 BR discharge in October 2019. My starting scores (in Oct 2020) were:
EQ (MyEQX and CK): 698
EX (EXP.com): 693
TU (CK): 693
I realize that the above scores are outside of the FICO model and can be a little off. I didn't start tracking my FICO scores until July 2021. In this model there are so many credit score versions, but currently my FICO 8/9 scores are (as of Feb 2022):
EQX - 675/712
EXP - 700/731
TU - 677/725
I financed a car in February 2020, purchased a home in Janury 2021, have 3 credit cards (PNC - $14K, CapOne Plat $3.3K, Upgrade $13.5K), plus 2 personal loans (Lending Point - $25K, owe $7K) and Upgrade - $30K, owe $26K). My annual income is approx $226K.
My overall goal is to increase AND maintain a FICO 8/9 score across all bureaus of 780 or greater (850 would be ideal). My short term goal is to get my FICO 8 scores above 720 by December 22'. Could use and would appreciate any advice to help me achive these goals.
My goal(s) for this year are to rebuild my credit following a Ch 7 Bankruptcy (2012) that fell off all my credit reports as of 3/1/22. I am hoping to build it enough to be able to purchase a new home (VA loan) by the end of the year. My husband owns our current home but we had twins in 2020 (bringing us up to 5 children total) and our house is too small.
My scores before and post bankruptcy discharge were low 500's. I am currently low 600's and have ALOT of items falling off this year. I currently have 1 secured credit card - $500 (NFCU) that I have attempted to PC to an unsecured card but I had issues with overdrafts in my time with them and have been repeatedly denied.
I am still researching through the forums for what steps to take now that everything is clearing off my reports. I have a few active disputes on all reports and do have a few collections I need to take care of since they are high amounts. And so the adventure begins!
Greetings! I was a "Member" previously, however, I had to start over for some reason...I've been following this forum for a few years now, but this is my first time actually taking this challenge.
I had my first credit card by the time I turned 16 so for the most part, I've maintained pretty good credit for over 35 years. I was taught the basics (pay your bills on time & never miss a payment); crossed over the 800 score mark a few times, but never stayed there longer than a few months. My goal now is to not only crossover into the 800+ club, but to maintain no less than that...not a neccessity, just more of a personal goal.
I try to keep my utilization under 10%, but I do have a few accounts hovering between 24-26% due to some recent large purchases (0% interest), which makes my overall utilization across all accounts around 15%.
Increasing business credit will be a top priority for 2022; also planning to add a few more travel reward cards to the inventory now that travel restrictions are starting to ease up. Cheers to a prosperous year for all!