What are your credit goals?

Discussion in 'Credit Talk' started by doodyhead, Nov 8, 2001.

  1. doodyhead

    doodyhead Well-Known Member

    I have one goal in mind - to be able to purchase a home within a year- I think I can get my credit up to FHA standards pretty soon. I also have to put some money in the bank & get my collections/chargeoffs paid or removed.

    What am I doing to acheive my goal?

    1. Started Disputing
    2. Paid tax lien - have release - sending to CBs
    3. got a cc & jewelry account to reestablish credit
    4. Car paid off in 3 months so Debt Ratio will
    be good & will put car payment money in bank
    5. Mother is a broker & is helping me to qualify

    QUEEN_BEE Well-Known Member

    My goals are:
    Refinance car loan (21.5% interest, YUCK!!!)
    Obtain mortgage.
    Get two or three good credit cards.

    How will they be accomplished?
    Get rid of judgments
    Say vamoosh to 3 charge offs
    Establish more positive credit with cards, loans, etc.
  3. Pat

    Pat Well-Known Member

    Mine is almost the same - to be able to build a home next year. I have 2 pd chgoffs holding me back on EQ and 1 on EX. TU is clean except for some old 30 day lates. I'm almost there.

    What have I done to achieve my goal??
    1. Dispute
    2. Dispute, Dispute, Dispute
    3. Validation
    4. Got Married (Wife has A+ credit)
    5. Added as AU on most of wifes credit cards
    6. More Disputing

    What am I doing to achieve my goal?
    1. Catching CRA's in their lies to get my last derogs removed

    EQ 665, EX 669, TU 842 (woohoo!)
  4. Mist

    Mist Well-Known Member

    Mine is to have all my credit card debt paid off by April or May of next year.

    After that I want a new car and I want the best financing I can get so I will also be saving for a hefty down payment along with my trade-in. One of those 0% deals would be nice but I really want another Honda and so far I haven't seen them offer any 0% deals.
  5. uniondiva

    uniondiva Well-Known Member

    my credit goal is to build a new house in two years.
    How am I going to do that?

    1.Dispute all negatives
    2. No late pays on anything ever
    3. Bank all dh paycheck and live off one income (mine)
    4. reestablish with secured cards and cu loan
  6. author_22

    author_22 Well-Known Member

    My credit goals:

    1) get a Gold AMEX Rewards Plus in the next year.
    2) get a Diners Club in the next year
    3) get the HHonors AMEX Platinum in the next year.


    Continuing working to get off remaining derogs.
    Do not apply for anything else that pulls Equifax.
  7. Terry

    Terry Well-Known Member

    My goals are as follows:

    I want one other prime card, I have chase classic with a 6k limit (I want to see what increases will come my way about next summer). Amex denied me with a 692 credit score. I am hoping I get a preapproval in the mail.

    I want to obtain one other "prime card" Citi is out of the question as they check Experian for me. WORST report 601 creditexpert. Eqifax 692, TU 725.

    I want a prime mortgage within the next 18 months. Which confuses me. I know TU is my highest score, EQ close second, Experian worst report. I only have 1 charge off Capitol One 1995, and Gulf State 1996. Cap one will fall off next year.
  8. Bill B

    Bill B Well-Known Member

    Well like most i want to be able to buy a home within the next 3 years..My score is Exp: 658 and wifes is 668..We have no negatives of any sort nor never late on payments..We need our file to age.My oldest account is citi card and will be 2 years next month and hers is 39 months which is providian..In total we have a total of 7 cards but just closed 2 discovers and BT the $ to our citi cards and also Bt the $ to citi from providian which we keep open to age..

    1.) Citi-Bank limit $14,000 owe $11,000 at 7.65%
    2.) Citi-Bank limit $8,000 owe $7,500 at 6.99%
    3.) National City Gold limit $4,000 owe $3,300 at 12.49%
    4.)Providian limit above owe $0
    5.) Nextcard same as providian

    I figure in 2 years i will have this debt paid off as long as we stop using cards..Does anyone know what the requorments are for a FHA loan?
  9. doodyhead

    doodyhead Well-Known Member

  10. Bill B

    Bill B Well-Known Member

    Thankyou for the info
  11. creditwork

    creditwork Well-Known Member

  12. Kittw1

    Kittw1 Well-Known Member

    Credit goals:
    1. At least one Plat card by June
    2. Discover - "because it pays"
    3. My Cap One card back
    4. Mortgage - using program that if I locked now, I
    would have had at least 5.1% guaranteed.
    5. Increase my savings.
    6. Finally open my checking account (again) this
    week with the Delta Employees Credit Union under
    my mom! And another account with Wachovia/1st
    Union, or the other dumb bank- BofA...for a line in
    to their credit card products. Which card? I don't
    7. Some grantor's LOC account by June also.

    How will this be done:
    1. Dispute, dispute, dispute
    2. Validate
    3. File SC against EQ for reaged debt and other
    4. Send out my C & D letters
    5. Make EQ show and prove how they claim to have
    verified these debts. EXP & TU are cool.

    Personal goals
    1. Kill the LSAT on 12/01

    How will this be done:
    How this will be
  13. ble103

    ble103 Well-Known Member

    For me my credit goals would be to build up to 200K worth of unsecured credit,and then buy me a real nice home unsecured at a 4.9% B.T until i pay my balance off on my new house then after i complete this goal then i would be making money off of my cards.This is why exercising my credit is very important to me so that i can get the highest credit limits established,and take advantage of my very low rate offers from my creditor's.It feels great to be trusted with that kind of money,and i have a total of 120k worth of credit making it only 80k more to go to reach my goal of 200K.The avantage of buying a home on credit cards is that it is not only just a unsecured loan but also this makes my credit so strong that by the time i pay-off my loan i could have 250K or more worth of credit limits.Also i will pay my balance off a lot faster with the higher credit card payments as compared to a mortgage where it could take as much as 30 years to pay-off.
  14. creditwork

    creditwork Well-Known Member

    I did that. You should take into account the tax savings of a regular mortgage, must credit card interest is not tax deductable.

  15. staces5

    staces5 Well-Known Member

    My husband and I filed bk 7 on October 19th. We struggled for years after having three preemature babies who needed lots of medical attention for months as well as me adding up medical bills in my pregnanices, not to metion loss of income for us both while all this was going on. It all became to much and our credit was already in the 400's, so we did something we hated to do, we filed to get a fresh start! I would like to rebuild credit on order to buy a bigger home in 2-3 years, to do that, I plan to get a couple of secured cards and have vowed that NO bill will ever be even one day late again!! I know we can do it!
  16. amaineman

    amaineman Well-Known Member

    1. Learn from my mistakes.
    2. Pay down major debt within 5 years, only 30% shows under my name.
    3. Buy a house.
    4. Outfit a minivan with a high tech wheelchair lift ($14,000) for my other half.
    5. Pay-off current minivan in hopes of making this happen.

    My scores are now in the high 500's or low 6's.
  17. drmgirl6

    drmgirl6 Well-Known Member

    I too am post BK, having filed in Dec 1998. I have reestablished credit by financing a car 10 days after discharge. I reaffirmed a installment loan and have been paying on that without fail. I have just been approved for a secured card. I am a co-signer on a loan for my house that I just built in May but at 10.75% interest rate. My long term credit goals are as follows:

    1. To refinance my house at a much lower inerest rate and remove the cosigner
    2. To clean up my credit reports and keep them that way (to get the BK removed would be great!)
    3. To obtain 1 or 2 prime credit cards with at least 5 -10,000 limits each

    I just want to say, as I have seen several other people express, that I am truly glad that I found this board. The information here has been invaluable and I have told other people to definately check it out. Even though the questions asked I'm sure at times are redundant, the people here are always willing to give the answer again or point you in the right direction to find it. You guys are great and I'm always cheering when someone gets a situation turned in their favor. It's truly "people helping people". Thanks again, guys.
  18. myschae

    myschae Well-Known Member

    My credit goals over the next year are pretty modest.

    My husband and I recently refinanced our home at 6.6% (over a point down - drat we missed the recent .5 cut) but more importantly we got rid of PMI to the tune of $93.00 a month! Yeah!

    I'd like to simplify my credit a bit. I have an embarrasing number of credit cards left over from the days when we were cleaning up our act and I was afraid I'd never qualify again ;).

    Refinancing got rid of a HELOC which had been sitting there empty so that's one thing gone. And my Wachovia Visa card just got bought by First USA which I've heard a few bad things about so that card just might have to go (it's kind of a shame too, since Wachovia was very nice to deal with).

    Other than that - we're doing pretty well.

    Now, my other goals are to help a relative of mine clean up her credit. Which is how I found this board! I haven't even looked at her credit report yet and she says she's never even seen it. Gonna have to do that soon - then I'm sure I'll be coming back around for some advice!


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