Recent Divine Discussions

Thursday, June 21, 2007

Credit Score Update

Credit Score as of 5/17/07 (average of all three credit scores):

678


Credit Score as of 6/20/07 (average of all three credit scores):

664

Down 14 dang on points! Ugh! I think those two new accounts I opened up in the last 3 months caught up with me (Discover and Chase). And most likely the extra $1000 I added to my credit card debt in April might have done a bit of damage also. This is why I hate moving. I got stuck paying two rents and all those moving expenses and deposits. I know it will pay off in the log run since I did save myself $300+ a month and now stay in a larger and nicer apartment.

Well I need to get back on the ball with that. I have to have the following items in check before I can start home shopping:

  • Get debt-to-income ratio down to under 40%. (currently at 42%).
  • Get credit limit-to-credit balance ratio under 50% (currently at 39%)
  • Have a credit score of 750 or higher by August 2007 (currently at 664)
  • Have $3000 saved in my Emergency Cash Fund (currently $677.34).
  • Have $4000 saved up in Home Purchase Fund (currently $701.99).

I hope to achieve all 5 by February 2008. I have already met the credit limit-to-credit balance ratio. I just need to make sure I stay below 50%. The struggle never ends.

Dimps




7 comments:

Krystal said...

How did you find out what your score was for all 3 bureaus? Did you pay for them separately or did you find out for free??

I paid to see my Equifax score back in March, and I've been dying to know what my score is now, but can't justify paying to see it!

Dimples said...

@ krystal

I have a Providian credit card that allows me 24/7 access to my Transunion credit score. I also signed up for trials with Privacy Matters and FreeCreditReport.com and both allow me to see my Equifax and Experian credit scores. Both trials are ending soon. I enrolled in them through offers on Cash Duck. When my trials end I will cancel my accounts with them so I won't get charged and then search for another medium offering a free trial.

Rad said...

Gotta love Cashduck, I signed up for both of those trials myself. Just keep goin on the path you goinand your score will come back up girl.

D.C. said...

Keep it up Dimples. Your score will rebound quickly. I'm with you on reducing the dti ratio. Keep on swimming keep on swimming :O)

Dimples said...

@rad

Cash duck is awesome. How you doing with it? I gotta get some offers in before the end of this month. Thanks for the encouragement.

@ D.C.

I hope it does. I had a goal to hit 700 by July but that doesn't look like it will happen. I am going to need to realign my goal for that one. Girl I am swimming! Backstroke, breaststroke, and every thing. LOL

ms.voad said...

hey dimps...
how is your david bach book? i just happened to pick up a copy today and noticed it on your blog....

Dimples said...

It's a real good and informative read. I am almost done with it.