Hello! Do you have any tips on how you went from 527 to 755? How long did it take?
as of Jan 24th, current Score is 680 .. my goal is 740 in 18 months
I found this community a couple of days ago while searching for help in ways that I can improve my credit, after reading around I decided to join the challenge. Current situation is bad I have several coolection accounts must of them from 2008. The only open account I have is an installemnt account that has been paid perfect for the past 6 months and I have six more months to go to pay it off, I applied for one of the unsecured capital one CC and got denied then a secured Credit Card from my Suntrust to whom I have been banking with but got denied as well. I tried to talk with NCO Financial for Pay for Delete but they said they could not do it and Im really not sure what my next step should be
My financial situation is pretty pathetic right now. All three of my scores are extremely low, even with the HUGE bump in my TU score last year. This year, I plan to continue to work on my credit report. I think if I can get it down to fewer pages that will help. I'm going to place myself on a strict financial budget, so that I can begin paying off some of the legit debt on my credit report. I also hope to get one of my secured cards change over to an unsecured card and use the money I get from that to set up another secured card thereby increasing my overall available credit. Given that my other secured card is only a secured card, instead of canceling it, I will keep it for another year, and hopefully be able to cancel it next year.
I would also like to begin a petition to send to the President addressing the mess that is our current credit reporting system. I'm amazed at the discrepancies not just between all three reporters, but within one report itself. Like for instance, on one of my reports it shows a 90day late indication in the month of February 09. Yet November and December 08 show paid, and January 09 is not reported. So how am I 90days late come February? On my other reports, it shows paid for all three months. Even though it's a minor discrepancy, I know it has to impact my score. And I think it's truly absurd that we as consumers do not get to see the same score/report that creditors do. If the goal of the report is to allow the creditor to make an informed decision about one's creditworthiness, why are we not looking at the same document. How can we as consumers address errors that we don't know exist? Or address issues that are correct, but we are unaware of, if we're not looking at the same document? Something really has to be done about this.
woo hoo! slow and steady wins the race...
Your FICO® score has gone up to 586 on January 26, 2013.
After several years of struggling financially, I am finally making the right decisions on getting my credit in shape. Started monitoring in Oct of 2012 and had an EQ score of 515, and it's gone up to about 540. I don't have a lot of debt (about 5K), just a history of poor payments after a divorce years ago and some accounts in collection. I should be able to get my debt down by May, and get my utilization down to about 10 percent (right now it's about 65%). I'm also aiming to pay off some collection accounts in the first quarter and see if any will give me a PFD. If not, I'm happy with knowing that these accounts are at least paid off.
The longer term goal is that my husband and I are aiming to purchase a house by June of 2014. We are currently renting and the plan is to renew our lease this summer with the goal of purchasing a home by the time our lease ends in 2014. He is not a US Citizen so he just recently started building credit as of last year, he was able to transfer his AMEX card over to a US Starwood AMEX and he added me as an authorized user which is helping things for me. So in addition to improving my credit score, we have the challenge of building his credit score. We've had no late payments since he got his card and we pay the statement balance off each month and tend to put a little extra towards it before the statement closes. He only has the one credit card right now, but we will be adding another card from the credit union next month.
I feel like we are on the right track and am confident that we will make the right decisions to get us to our goal next year.
I'm new to this forum. I have been dealing with credit since I was age 16 with one of those capital one highschool visa cards for underage people. I'm 29 and got over 12 years of credit history but my business went under in 2009 and I filed chapter 7 bankruptcy on nearly $100,000 in debt business cards and personal.. It made me sick to do that. I miss my American Express cards which I closed way before bankruptcy but they won't give cards to people with bankruptcy on their credit so I have to wait till 2019 in July for my chance to get one of them again when its removed.
My challenge this year is too pay off my little $1200 in debt over the next 3-4 months on 4 different cards.Then pay off my cards in full and get my Fico score up to over 720 if I can over the next year. I went on an applying spree last year and opened too many accounts now I got 11 open accounts. I finally got a half decent limit of $4,000 from Sears MasterCard Platinum and I plan not on applying no more for no more credit and just establishing credit with all these new accounts I got last year in 2012. I filed Bankruptcy in 2009 and My Fico score is close to 680 at Transunion but the other credit bureaus are not so hot. I'm making a pledge no more applying for credit cards. It just ruined one of my cards (Barclays MC) and I lost it but got a $4,000 Sears MC with over 30 inquiries right after to replace it. Then I'm going to work on my wife's Fico score hers is bad. I'm going to see what we can do. Then by end of the year hope is to get a great deal on a auto loan once I get both our fico scores up on all three bureaus.
- Increase FICO to 700 by June DONE January 2013 (for two out of 3 scores, one still has to update)
- FHA Mortgage by May In underwriting. Midscore 708 at time of app.
Happy 2013 everyone! I'm looking foward to improving my score and my life this year!
2012 Wrap Up
- Found this board, learned A LOT!
- Increased FICO from 599 September - to 656 December
- Paid off 3 collections (no more left!)
- No late payments or missed payments in 3 years
- Increased CL on JCP, Orchard Bank, and other secured CC
- Increase FICO to 700 by June
- Make final progress on GW to remove old COs and lates from 2006/2007
- FHA Mortgage by May
- Refi auto after mortgage
- App for Amex Decided I will apply for Amex BCP
(Green), Southwest Rewards, local credit union cc (right after mortgage then garden)
- Save - add $5k to add to emergency fund
Whoo hoo Fico scores all shot up just because of my new Sears MasterCard. My Transunion shot up 20 points 676 + 20 to 696! But Equifax isn't so lucky it jumped 6 points from 635.. The bureau there got all my old account deleted compared to TU myfico told me that is why my average age of accounts is 4 yrs at equifax and 5 years and TU and it makes a difference. My oldest account Fico is basing my oldest account on is a bankruptcy account and then a authorized user when I was 16 at TU. My oldest account after Bankruptcy in 09 is Dec 2010. I can see I can easily get my TU up over 720 this year but the other 2 bureaus are going to be hard. I hope to get equifax at least to above 680 by the end of this year. Once I pay all my debt off and get these 2 chargeoffs off my credit that some ID thief opened right after I filed bankruptcy in 09 I'll be all set. I'm setting my mind also NO MORE INQUIRIES!! I got way too many. 41 on equifax and 31 on TU and 35 on Experian. Too hot hopefully 1 year of not applying and paying all accounts off in full will do the trick to get my fico scores up. Good luck to the rest of you. Its hard work getting all the accounts I got I had to go where I knew who would approve me with dozens of inquiries and just stop applying and rebuild from there I wasn't stopping till I got a decent limit above 2k. And I got it but it cost me all these inquiries. It don't hurt my score alot lot its the chargeoffs and small limits of $500 and $750 that I was carrying $400 balances on. Once those are gone the Fico simulator said my credit will jump even at equifax to above 660 at least over the next 6 months. I sure hope so.