Take the myFICO Fitness Challenge for 2012!

[iMacDrew]

I stumbled upon this website after app for an AMEX card today, just curious whether or not I got a good one, I learned a lot of stuff in a brief hour and am gonna give this Fico challenge a shot, although it is mid year I dont think im in bad shape

[goldenyears]

Hello all!

Just bouncing back from a business loss followed by long-term unemployment and underemployment.  I have finally gotten my career/income back where it was prior to starting my business and am now in a financial position to start paying off debt and establishing new credit, I have been cash only for years now.

I started in February with:

No credit lines more recent than 2006 other than my mortgage

7 accounts with poor payment history (most of 2007)

3 civil judgments

1 collections account.

Steps taken: I now have a car loan (which was not part of my original plan but worked out well for my credit) and a secured card with Cap1.  These two things alone have increased my credit score by 60 points!  A really encouraging start.

Next:  Settling on my final outstanding judgment and hitting the goodwill and pfd letters hard. Perhaps another credit line or CLI on my secured card.

Goals: Refinance my home, I saved it by signing a restructuring with WellsFargo that is high interest and all-around making my financial recovery more difficult.  I hope to first be able to refinance my car which was also taken at a very high rate of interest through lack of options and funds.  

Looking forward to finishing this year at or near my goal and learning a lot more from the boards.  I would never have considered opening a credit card account as a way to repair my credit if it weren't for what I learned here.  I'm excited to buckle down and get more results!

I've got my work cut out for me, but I'm excited to be in this position after five long years!

[Anonymous]

How did you get a 100 point increase in only 2 months?

rndickey

[Calito360]

Been lurking around the boards for a couple weeks. I am in the middle of purchasing my first house and I've found a lot of good info here to help me become more educated on my credit. I have 1 small CC from Cap1 which I've been staying on point with for 2 mos and 2 small SL from college that ive been paying off as well for a year.

[Chbraswell]

Hello All!!!   I know I am coming in midway through the year however my goals are just as important.  A little over five years ago I went through a few financial setbacks.  I was pretty extended on a lot of my debts.  I should have scaled back but I didn't have self control.  When I lost my job naturally the minimum payments I was paying before went to absolutely no payments.  I had to move back with my parents and it was hard to find a job that paid the same as it did before.  Well my parents were in the same situations and it eventually lead to us having to move out of our home.  For the past few years I had obtained a better job and eventually declared Chapter 7.  Well since I did my bankruptcy over two years ago, I have continued to become financially educated, and learn to have more self restraint.  I want to buy a home and I am still in the process of getting my score up.  I Just really would like my scores to range from 620-680 so that I can apply for a conventional loan with really good rates.  So far I have paid cc's down and just stayed on time.  I have not been late and the only thing that hurt me where two judgments that I didn't know that was filed against me last year but I had paid off.  The only thing that can help is time and paying down my debts, but any other information will be welcomed!

[Alexander251]

Hi folks.
Before becoming a myFICO member, I was a Costco ID Guard member and my credit re-build journey started in Dec 2011. Regardless of Costco's score being a FAKO, it still teaches its members how to manage their credit, debt and responsible borrowing! It also teaches how to re-build credit. The credit score numbers are secondary to its credit schooling.

My credit history is 10 years old, out of which 8-9 years were very bad due to wreckless spending and irresponsible borrowing. I never paid anything on time and I always maxed out my CC's. I often had multiple car loans which I paid late and lost money on flipping them. What's even worse is I did all of the above while I had money and enough time to pay them!!! In simple plain words, I WAS STUPID. I don't blame anyone but myself. The bad economy never affected me, nor did any sudden illnesses or bad luck in business. I always worked very hard and made very good money but had no sense of credit responsibility whatsoever!! It was Just plain laziness and stupidity!!!
Luckily I woke up from it all (another story by itself) and realized what I had done and took steps to turn it all around.
Today, after almost 8 months I managed to use the same money I used to spend wrecklessly on stupid things to pay off ALL bad debt, start new and fresh "in good standing" accounts, remove old negative items and turn my credit around. I went from an all time low of 531/550 to 717/721... Yesterday's score!
When I came to myFICO from ID guard, it was like graduating from college and starting grad school. Now I'm going upwards like a rocket. I've learned so much about credit management this year that I could probably start a credit couselling school. I read, read and read more... I learn everything I can and research endlessly. I enjoy the process very much. It's an exciting challenge to improve credit!
So now, I'd like to join the 2012 challenge today by setting my goal to reach at least 750-800 by dec 31-2012 and hopefully in 2013, get my doctorate in credit management LOL...

I wish everyone good luck and I will share this last thought with you all.... It's a fantastic sense of "high" to have good credit.
This is a true story... I know a very wealthy gentleman who built a 600 million dollar empire based primarily on excellent credit and smart investments. I asked him how and he said he used his excellent credit to borrow money from banks to invest in his startups.... The rest was based on education and smart business senses!!!! The opportunity of being able to borrow money made it possible for him to put his business ideas into motion!

Im going to do the same thing now!


God bless and thank you myFICO and everyone if its members for all the priceless teachings!! Thank you costco id guard too.

[gettnthere]

HI ALL,

First off can someone please help me with my Fico logo? i cant seem to get to appear? lol

i came across the forums last month when i was trying to some research for the Chase Freedom Card so i went ahead and signed up. in just the month i been i here ive learned more than i ever have. my current scores are EQ 684 Ex 712 and TU 700. i plan on getting these scores higher by continuing to pay on time and handle my credit responsibly. my CR was free of any deragotory but i just learned a hospital has reported some bogus debt on my reports so i guess ill be working on getting that removed hopefully it wont take too long for my scores to rebound) but im def glad ive found these forums and have now become addicted to them so im not going anywhere good luck to all in 2012

EDIT_wow that was fast lol. Thank you to whomever fixed it for me, your awesome

[Anonymous]

Hello Everyone,

This is my first post to the forums but, I have been a member of myfico.com for some time. My credit situation was really a nightmare about 2 years ago. I had been out of a job for years and was going through a divorce. I had numerous defaulted student loans. I eventually got back in the workforce and started paying down my debt. I am very happy to say after almost a year to complete a rehabilitation program for  my 20 + student loans I am back in school with graduation about a year away and all my student loans are in good standing. I am not where I want to be with my credit score yet but, I am slowly getting there.

Melissa

[JGeuy]

I would say you have made considerable progress!! Keep it up!

[Anonymous]

Thank you!

I was approved for cell phone service today by verizion with no deposit needed  in my own name for the first time ever. I am super excited and proud :-)

Melissa