I've Come A Long Way In Such A Short Period Of Time Being On Here...

For just about anything you want to get off your chest about credit cards.
6 posts
Dylan1982
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Location: Chicago

I've Come A Long Way In Such A Short Period Of Time Being On Here...

Postby Dylan1982 » Thu Aug 02, 2012 9:13 pm

Here is a brief overview of what I've done since I joined this forum in March of this year.

All my information is being based off of Credit Karma.


March 2012
I started off with a overall credit utilaztion of 59% and a credit score of 658. This is all My GM card alone was at at 96% utilization.

I paid off 2 credit cards ($667 and $1,079). I then Increased my credit score from 658 and increased it to 700 (+42 points) and dropped my utilization from 59% down to 51%.


June 2012
I applied for 2 new CititBank cards - Thank You Preferred and Diamond Preferred. When I signed up my utilization was at 51%. Now it is down to 39% (credit karma was only 1 card is showing up and being reported) The other card has yet to show up. My credit score was at 695 and now it is at 716

I am paying off my GM Card balance in full in the next couple days ($7,350) and my car loan ($7,150) I cannot wait to see what my score on credit karma will be


July 2012
My score went down a bit due to me opening up 2 new Citi Cards. My avg age was at 7 yrs and 11 mos, now it dropped to 5 yrs and 11 mos. My oldest trade line is 10 yrs 2 mos.

But since I opened the 2 new cards and Credit Karma shows them reporting now, my utilization has dropped from 51% down to 0%.


August 2012
Now that we are in August, my overall credit utilization rate is 0%, Credit Karma is giving me a grad of C for that. My credit score is at 703. I did pay off my car loan in the middle of July and CK is still showing that I have a balance.

I wonder what my score will look like once CK reports my car loan being paid off in full? And I really wonder what my FICO Scores are, I am assuming that they will be much higher than what CK says??
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


kashmac123
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Location: Los Angeles, Ca

Postby kashmac123 » Thu Aug 09, 2012 5:50 am

Great job Dylan1982.

It is good to see what works. My ck score went down 39 points in 2 years. I am back in the game.

Good luck

Dylan1982
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sat Aug 11, 2012 10:47 am

Thanks, I'm pretty obsessed about my credit!
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Crashem
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Location: San Francisco, CA

Postby Crashem » Sat Aug 11, 2012 10:52 am

Great job Dylan! Paying off the car loan might actually hurt your credit a little as your "mix of credit" is reduced if you don't have another installment loan (think mortgage, car loan, etc.).

As for maxing FICO via utilization, it is actually better to allow one card to report small utilization (1-9%) and the rest of your cards to report 0 balance. Remember reporting a balance doesnt mean paying interest.
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

Dylan1982
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sun Aug 26, 2012 9:03 pm

Installment loan is different than having credit cards, right? I don't think that would matter too much. I paid the car off a year early. Had the loan for 5 yrs.

I did get another installment loan after I paid the car loan off.. So I guess I will see what my credit looks like when all the beraus report at the end of August.

My utilization is now at 6% (A) bc it is reporting a balance which gets paid in full every month.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

Dylan1982
Centurion Member
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Sun Aug 26, 2012 9:53 pm

Now according to credit sesame, my score is a 771. They pull from Experian.


My credit score from credit karma is a 703, they pull from TransUnion.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)



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