Probably a large percentage of posts on my site are about money and/or credit. Could be for many reasons... like that's all I have to talk about or maybe it's just one of the more important topics I feel like discussing? Either way, if you've been following along for the past few years, you'd know that I've been working on rebuilding my credit for a little over 4 years now.
I don't even know how low it was at its lowest point. Probably 500 or less. I remember tracking it when it was in the 500's and that was well after I had started making improvements in my credit. As I've mentioned previously, just in the last year, I've paid off well over $10k in various debts (credit cards, car loan, student loans, etc).
One thing I need to focus more on still is credit cards. It was awesome to pay off my car loan, but installment type loans are typically "OK" in the credit world as long as you're on time. It is the unsecured "credit card" debt that hurts. Especially when you're using a high percentage of your available credit.
For the last year or so I've been stuck in the low to mid 600's. Not awful... and certainly an improvement over where I started - but not where I want to end up for sure. Imagine my surprise today when Credit Karma estimated my score at 698! Ya, I was pretty shocked.
My best guess is that this is mostly related to my "on time payments" finally going up to 100% as my last late payment (from 4 yrs ago) finally fell off my report. I also noticed today that the number of total accounts I have went down by 1 - which may have been the account with the last late payment - I don't know. I won't know until next year when I pull my 3 annual credit reports again.
As promising as this is, it should get even better. If you recall, not long ago I paid $1500 that I was going to use for my new car down payment to my Citibank card. On a card with a $5k limit, that makes a hell of a dent. Thing is, that amount has not yet been reflected on my Credit Karma account. So I'm expecting that once that info is updated later this month when my new Citibank statement comes out - I should expect another little bump - at least I hope.
I'm hoping this will do a couple things for me... a) Allow me to get my new car loan with no cosigner. And b) Buy a house in the next 1-3 years. Someday...