Would like to finance a car but looking for a low APR and in the next 2 years get a house, Im rebuild my credit, have 2 collections and have TU score of 692, EX 682 and EQ 582 started from being in the High 500 in march so Im making good process, have a USAA secured card with 1000 credit limit, Macy's with 1000 CL and a Kay card with 1000 limit and was just approved for a navy federal CC with a 6,000 CL but it didn't report to the CB yet... Wish me luck and any advice will be greatly appreciated
Before I started on this forum my credit was so bad that Citi Bank sent me back my secured deposit (2010). After reading and learning from ficoforums, my credit health and score have done a complete 360.
I was so discouraged at first, but I kept reading, and learing and reading some more and learning some more. Starting out with a score of 510, today I have a score of 710.
What's in my wallet?
Capital One Secured: $450.00
Capital One: $300.00
Capital One: $750.00
Capital One: $5,000.00
British Airways Visa: $5,000.00
American Express: $15,000.00
U.S Bank: $5,000.00
Amazo Visa: $1,500.00
Home Depot: $500.00
Barclays Bank: $2,500.00
Citi Bank: $5,000.00
I will be in the garden until December 2015, until then I will keep reading and learning.
Starting myFICO score says, EQ: 756; Hope to up that, my recent Experian score is 743 as of last Friday/13th .... Transunion ... I always get confused which score to look at ... the "Vantage" or the other. TU Vant Score is 768; TU regular is 718 or something like that. I think these are good scores because I just got approved a few hours ago for my long awaited AMEX True Earnings Costco Card .... don't know the CL yet. How do you find that out in the congratulatory note ...???? Thanks, flo.
Hi everyone! I hope all is well with each of you. I am new to this forum. My financial situation is that my credit score is poor because of old collections. I have nothing new on my credit. My goal is to be 200-250 points higher than where I am currently. I plan on paying off my collections, getting a $500 loan (let the bank take the payments out), and get no more and no less than 3 credit cards (spending no more than $20 on each card every month) to rebuild my credit.
|Your FICO® score has gone up to 656 on December 16, 2013.|
2012 Wrap Up
** Long Post Warning **
After spending many years in my early 20s completely disregarding my credit and responsible account management, I found myself in a position where I found it difficult to even rent an apartment and the idea of unsecured credit from prime lenders was a total pipe dream. I was honestly scared to see what kind of damage I had done, but I knew I had to rectify the mistakes I had made if I ever hoped to own a car, home, or qualify for any credit from anybody.
I found what I expected. Various collection accounts and, worst of all, a defaulted student loan that had completely obliterated my score. The first credit score of mine I ever saw was 519. Ouch. I decided it was time to get my life and finances together. I paid of all of my collections and had them either fall off my CR or had them GW removed. The student loan still remained which was holding me back significantly.
In April of 2011 I opened a Cap One secured card ($200 CL) and a Best Buy RZ Mastercard ($300 CL). I managed these cards responsibly and paid them on time every month, sometimes carrying balances and others not. In 18 months I managed a single $100 CLI from Cap One.
In July 2012 I opened a joint auto loan through chase with my SO. Lender FICO was 626. Making progress. After learning about FICO scoring (I was honestly *that* ignorant) I found this forum and lurked and took in information. Dec 2012 I opened an Amazon store card with an $800 CL. Use monthly, PIF. Slow and steady.
In the middle of this year I finally took it upon myself to tackle the student loan. I began rehabilitation of the loan which will remove the default status and bring all of my payment history current by April of 2014. All of the negatives and late payments associated with this loan will fall off my CRs that same month and I will have a perfectly clean credit history.
As of Dec 2013 my scores were in the mid to upper 600s, with EX lagging behind because it reports two accounts related to my student loans instead of one each on EQ and TU. I decided to take a risk and pursue some credit cards with prime lenders to thicken my CR while getting rid of my old awful high AF cards. I was approved by recon for a Chase Freedom (1500) and instantly for a Discover IT (3000). The accompanying paperwork with my Discover IT that came today listed my FICO at 701, which was a huge milestone for me.
So in short, thanks largely to this forum, I've been able to raise my score from the low 500s to 700, all while adding prime cards and increasing my available credit from $500 to $5900. While these limits pale in comparison to others here, I still can't fathom that they actually belong to me. I can't wait until mid 2014 when all of my derogs are wiped away so I can finally purchase my first home, hopefully with favorable terms.
Thank you to everyone here for the positive feedback, constructive criticism, and encouragement. The MyFICO community literally saved my financial life.
I am very late for 2013, but early for 2014. I would like to purchase a home this year. I am optimistic in that I'd hope to make it happen in 6 months. That means I have to raise my score 100 points. I do not have any late payments since 2011, so I think I will be good also since someone here noted they raised theirs in 1 month. I filed bankruptcy in 2011 and was well on my way to a great score in early 2013. A divorce this year tanked my score about 60-75 points. Now I am trying to recover and raise my points in order to qualify for a home. I have 5 credit cards all totaling about 5500 in limit hovering around 90% utilization. On Dec 31st. I will pay these down to about 50% Utilization and cross my fingers for the best.
Thank god for this forum!
Starting Score: 555 Equifax
Current Score: 555 Equifax
Goal Score: 650 Equifax
Hi I copied and pasted as you directed however the HTLM code doesn't allow me to save it, please reconfirm how I can add this challenge to my profile again thank you and have a wonderful day.
I started out in July with ZERO credit history. Got added as an AU for a USAA CC and opened a secured credit card with $250 CL with my bank. Had a bunch of rejections after that. Last October, got my first few preapproved offers in the mail and decided to go for it, and got approved for Discover and Citi. Also got approved for Amex last month after receiving an email offer with Delta.
For 2014, I want to get an auto loan with an acceptable APR. Also want the CL on my Discover card increased (currently it is at $750). Planning to garden until 5/2014.
Happy New Year everyone!