Spent the summer erasing foolish debt

theHankster · ‎10-01-2023

Hello all. First time post here.

Wanted to share my experience in rebuilding credit. Back in April I left a dead-end salary job and I had 16k of debt across 5 cards. My scores had tanked from the 750 range to the low 600s.

Got a new job in mid-April, and laid out a plan to pay off 1 card per month. I am happy to report that 1 only have 1 card left to pay off, and my scores have recovered to being above 700

Jeffster1 · ‎10-01-2023

Good work!

FICO 8 (3/1/24) EX 805 EQ 824 TU 844

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 20K I Citi Best Buy Visa 10K I Macy’s Amex 4K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I

JoeRockhead · ‎10-01-2023

Nicely done, keep up the good work.

Indycoltsfan · ‎10-01-2023

Way to stay focused and eliminate your debt! It's a great feeling when you see your scores climbing.

Jeffster1 · ‎10-01-2023

To me...the greatest satisfaction for me becoming debt-free (I completed a 100% CH 13 for 3.5 years) is the fact that my entire salary now goes to ME. No interest...

Enjoy the liberation you will experience from having money sucked out of your wallet with no benefit to you.

FICO 8 (3/1/24) EX 805 EQ 824 TU 844

Current lineup as of 9/23
American Express Gold | American Express Blue Cash Everyday 11K | American Express Blue Cash Preferred 10K I American Express Marriott Bonvoy Bevy 5K I American Express Hilton Honors Surpass 3K I Bank of America Customized Cash Rewards Visa 20K | Kinecta MyPerks Rewards MC 35K | TD Bank Double Up Visa 4K | USBank Platinum Visa 5K | BMO Harris Cash Back MasterCard 12K | Capital One SavorOne MC 3K | Capital One Walmart MC 2K | NFCU Amex 15K | NFCU CashRewards Visa 20K I Citi Best Buy Visa 10K I Macy’s Amex 4K I Bread Financial American Express 8K l AAA Daily Advantage Visa Signature 6K I Wells Fargo BILT World Elite MC 30K I BCU Cash Rewards Visa 8K I Chevron Techron Advantage Visa 2.5K I JCPenney Mastercard $6K I UCLA Wescom CU Rewards Visa 7K I

FireMedic1 · ‎10-02-2023

Congrats! Way to go!

TRC_WA · ‎10-03-2023

Congrats. I'm about to do the same. Just got an amazing job offer ($50k raise) with a F500 company starting on Jan 1. Will make paying off all my debt in 2024 much much easier.

FICO8 current as of : 4-17-24 EQ: 724 TU: 707 EX: 706
Hard INQs last 12 months: EQ: 5 | TU: 8 | EX: 9
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 27% --- AAoA: 5.5 years --- Income: $200k
Last app: 4-6-24