Only 14 more points to go!

iVillage Member
Registered: 06-25-2006
Only 14 more points to go!
8
Thu, 02-04-2010 - 7:11pm

Update: Title should say Only 9 more points!

I checked my credit score today - once every year I check my credit report and score and this year I am pretty happy. Both my husband and I are are so so close to a 720 and to having an "excellent" credit rating. 9 points all I need is 9 more points. Right now I am at a 3 credit report score of 711.

I was so doubtful I called my bank and talked to my mortgage lender man guy and asked him what they consider "excellent" credit score and he said 720 and above! !

And even better I know what I need to do to get there.

Get my balances down below 50% of the limit
Get down my debt so my revolving credit percentage is lower
Both things that are I am working on right now.

I don't have any late payments and my bankruptcy is off of my credit report (after 10 years!)

I don't mean to sound boastful but for anyone out there struggling with bankruptcy, struggling with wondering how you can get from "there" to "here" know you can. It takes time. It sure does but it is doable.

I still have $15,000 to pay down (yes I charged again after my BK in 1999), plus a mortgage (30 years) and student loans but today I feel like it just might be possible.




Edited 2/4/2010 7:12 pm ET by smoochdog
iVillage Member
Registered: 08-24-2007
Thu, 02-04-2010 - 7:16pm

Let me be the first to congratulate you!

Kate


empty purse

iVillage Member
Registered: 05-20-2005
Thu, 02-04-2010 - 7:33pm
Congrats!
Wedding
iVillage Member
Registered: 12-10-2009
Thu, 02-04-2010 - 8:47pm

Congrats!


I like that you know how you are going to get your score up more. I didn't understand that until I got a report from my car insurance and they show you your score and how they make it. It was helpful for me because I saw that if I lower our income to debt ratio and debt to money that is bowarable ratio we will be a better risk and in turn could have a better rate.

Liz

student loan paid off 2010

Bathroom remodel loan paid off 2013

Pending Car loan to be paid by the end of 2014!!!!!

 

iVillage Member
Registered: 07-05-2006
Fri, 02-05-2010 - 8:24am
WOw! That is great. That gives me inspiration that someday soon my credit score will improve. I can't wait!

iVillage Member
Registered: 10-01-2008
Fri, 02-05-2010 - 8:42am

Congratulations on raising your score.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 11-14-2008
Fri, 02-05-2010 - 11:01am

Ah Smooch that is great! 10 years is a long time. You sound very motivated in your current journey. Good luck!


iVillage Member
Registered: 08-04-2008
Fri, 02-05-2010 - 3:31pm

Watch that debt to income thing, not as clearcut as it seems.


This year my income went up to the highest ever, I also have less debt on my credit reports than I have had in the last 10+ years, but my score went down?


- I do not show any realestate debt (because I sold and paid it off, as well as rentals, in full.)


- I owe less per month and less total (but I also lowered CC balances available or opted for the CC company to lower them so I could keep a lower interest rate)


We are not talking a couple thousand here either.




iVillage Member
Registered: 12-10-2009
Fri, 02-05-2010 - 6:09pm

good points! I wonder what it would take to get a perfect score or if that is even possible.


Liz

student loan paid off 2010

Bathroom remodel loan paid off 2013

Pending Car loan to be paid by the end of 2014!!!!!