What's your Master plan for 2015?

[funkiehouse]

 

I somehow missed the story before the picture that you posted later. I'll be the first in line on the day your shop opens.

 

 

Sweet. We're hoping for either a Huntington Beach, Redondo Beach or Santa Monica location if all works out. We may be priced out of doing everything we want to do because of initial startup funds and higher lease prices per SqF in those areas. We'll see how it goes. We have a few years to get it all figured out.

[funkiehouse]

- more hidden/business TLs

 

 

I need to get me one of these. Not that we leave much of a balance on cards, usually.

[funkiehouse]

 

As far as I'm concerned, I fared pretty well in 2014. Right now I would consider myself in a holding pattern and wanting to help others.

 

I got several new prime cards this year and, including my AUs, I have about $53k in available credit ($140k if you count AUs). Our actual overall utilization (I consider my wife's bills into my utilization so we keep things under control) is hovering around 3%. She has close to the same amount of CL as I do, except she is in the 800's.

 

I still have some OC baddies that I am trying to work on but those have been going VERY slowly. I have a few things that will hopefully fall into early obsolete range near the end of 2015.

 

Getting rid of my unpaid repo has been an ongoing challenge for over a year now but I intend to keep on looking for ways to deal with it. That's the only unpaid baddie that I have and it's what keeping me in the 690 - 700 range (not that I really care that much about my FICOs at this point).

 

I don't think we will be financially ready (nor my reports) for a mortgage this year. We are thinking of trying to save a lot more because we are considering finding property and building our own home, which is no easy task in the Los Angeles market. 1st - 2nd quarter of 2016 is looking more like mortgage time for us.

 

I am also in college right now so I am hoping to get that finished up next year.

 

It will be a gardening year for me. The only card changes I plan on making is change my Amex BCE to a BCP and maybe PC a few cards and close a few. The only thing that may change that plan is a great sign up bonus that can't be left behind.

 

We are also starting (pretty early) on creating a business plan to open a high-end sandwich restaurant/deli. We would like to include baked goods, a coffee shop, our own branded retail goods such as olive oils, a variety of fresh salads, and various types of pasta/tofu salads. It will basically look like your local grocery deli department but a lot nicer. Depending on the location and retail space we find we would like to have a space that has a second floor where we could have a wine bar. The deli/retail/bakery/coffee areas on the first floor would focus on breakfast and lunch hours and the wine bar would opening in the evening. We really want a business that is not just limited to a lunch or breakfast crowd so it can be dynamic. Our goal is to open in 2017-2018. I really think its time to focus on working for myself and not someone else. Plus being a job creator is something I have always wanted to do. My reports will be pretty clear at that point. They'll have to be if we want a business loan!

 

That's about it for me. I hope you all have a Happy Holidays and a great 2015.

That sounds like a very nice business...I'd love to know when that is open and to check it out!

 

 

Thanks. It's quite a ways off but I'll let everyone know!!

[RussInGotham]

 

And when I'm done, my FICO scores will be over 800.

[Konrad2012]

I go to a place that kills it on the high-end salad / sandwich concept.

 

You go to one counter to get your sandwich. Either one of the 20 or so they have on a menu board (actually on 50 inch flat screens), or you just start ordering your own ingredients to make your own concoction.

 

You go to another counter to order your salad. You have a choice of 5 or 6 ruffages, and like 40 additions. 10 dressings. I want to say the base price is whatever ruffage combo, and like 5 or 6 additions. They have this huge stack of stainless steel bowls, in which they throw all your stuff in, and then toss your salad with or without the dressings (insert salad tossing joke here).

 

You can also up-order a free range chicken breast, sliced grass fed tri tip, wild salmon, or wild ahi.

 

It's kind of set up like a Subway or Chipotle. I mean its high end and really nice, I compare it to them only how you are looking through a glass wall at all of their different prepped ingredients and such.

 

And then they have a huge chiller with at least 100 things to drink, and they also pre-make salads and sandwiches so someone can just grab and go.

[funkiehouse]

Sounds a lot like what we have in mind.

 

There is a place in LA (Joan's on Third) that I found and they have a similar concept for the retail/sandwich portion. They have different sections for coffee/baked goods, retail, and the sandwiches. This is what they look like. I'm not interested in the catering service they provide because I would rather do the wine bar.

 

[funkiehouse]

It's a nice place but I can take the concept to the next level.

 

[Asakujaku]

Next year, I really want to get started on my credit repair journey. I will admit that I am a little fearful and intimidated but I'm tired of having high interest rates and low credit scores.

[mizliz1011]

I want steady mid 700's and up, clean up my mortgage, get rid of 3 OC Chargeoffs on EX, get BCP, Sallie Mae, and one great travel card with a great signon, get in with Citi, conquer Chase BL, build my CL's, and understand mileage and MP and work 'em baby. What has happened since this time last year, almost $100G in credit from high 400's Fico's 6 months ago is unbelievable, all owing to info here. I would love a CSP but it is unlikely. I will survive.

 

I am the luckiest woman in the world. Thank you everyone. You know who you are. xoxoxoxo Merry Christmas and all that jazz. What a year it was, what a year it will be.

[Konrad2012]

 

I somehow missed the story before the picture that you posted later. I'll be the first in line on the day your shop opens.

 

Sweet. We're hoping for either a Huntington Beach, Redondo Beach or Santa Monica location if all works out. We may be priced out of doing everything we want to do because of initial startup funds and higher lease prices per SqF in those areas. We'll see how it goes. We have a few years to get it all figured out.

Huntington would be preferable...I don't bother driving to SM our the Redondo beach Beer Pier anymore.

 

You could pull that off in Irvine, Tustin and all over OC.

[funkiehouse]

 

 

I somehow missed the story before the picture that you posted later. I'll be the first in line on the day your shop opens.

Sweet. We're hoping for either a Huntington Beach, Redondo Beach or Santa Monica location if all works out. We may be priced out of doing everything we want to do because of initial startup funds and higher lease prices per SqF in those areas. We'll see how it goes. We have a few years to get it all figured out.

Huntington would be preferable...I don't bother driving to SM our the Redondo beach Beer Pier anymore.

 

You could pull that off in Irvine, Tustin and all over OC.

 

 

Yeah OC is where we eventually want to live. I think it would do well in Huntington but not near the water. The weekends would do pretty well but I think the bulk will come from the lunch business crowd. There are some good inland spots that I have seen. I think Laguna Beach would be a great fit but it would need to be smaller due to real estate costs.

[ewitkows]

Went from 8k to 34k this year. Just working on CLIs and AAOA. After Oct Carecredit should be paid off and then just maintain no monthly balances.

[Burgerwars]

I opened three bank credit cards in 2014. My personal limit is I try to keep to one card every six months, but I went over by one.

 

I do have more cards than I ever need, but have two on my radar for 2015, and maybe a third. One is Rabobank. They have a branch network in the middle part of California. The other is I'm waiting for One West Bank to merge with CIT Bank. The combined bank will be called CIT Bank. No big reason to open accounts, other than to diversify my credit with a couple more major banks.

 

If I apply for a third card, it will be Sinclair Oil. I "need a card" with a dinosaur on it.

Edited December 25, 2014 by Burgerwars

[Konrad2012]

 

 

 

I somehow missed the story before the picture that you posted later. I'll be the first in line on the day your shop opens.

 

Sweet. We're hoping for either a Huntington Beach, Redondo Beach or Santa Monica location if all works out. We may be priced out of doing everything we want to do because of initial startup funds and higher lease prices per SqF in those areas. We'll see how it goes. We have a few years to get it all figured out.

Huntington would be preferable...I don't bother driving to SM our the Redondo beach Beer Pier anymore.

You could pull that off in Irvine, Tustin and all over OC.

Yeah OC is where we eventually want to live. I think it would do well in Huntington but not near the water. The weekends would do pretty well but I think the bulk will come from the lunch business crowd. There are some good inland spots that I have seen. I think Laguna Beach would be a great fit but it would need to be smaller due to real estate costs.

I was born in South Laguna Beach. Very nice, very expensive. Not a lot of a real business-like crowd you are looking at for that place.

 

Irvine, Newport, Tustin, Costa Mesa (North Side), Santa Ana (by the Civic Center or South Coast plaza biz district), Orange (by the City/UCI Med Center) those are the places that pop in to my mind. Unless you go North County like Brea and Fullerton...

[SmellyMonkey]

I got a new job this year and moved to another state. Make more money gross but not a smuch net because now I have state income taxes. But, have more opportunities here.

 

I hurt my credit somewhat because of the move and getting place and the other crap you have to deal with when you move. But I am still above 700 in my lowest score and 760 with TU. Interestingly enough I now have $18K CL with AmEx, FNBO, and Barclays. So for next year I plan on paying those debts, seeing about increasing my remaining CLs, and then just gardening. I do miss having almost zero debit, but it was a small price to pay. I needed to get out of where I was and moving across the country does cost.

 

I will say this has shown me the wisdom of having multiple cards and cranking their CL as much as you can: when you need them you do not max them out.

[kls0654]

- more *D

- more combining

- more hidden/business TLs

- CLIs

What do you mean by "more hidden /business line" what is this?

[mendelssohn]

 

- more *D

- more combining

- more hidden/business TLs

- CLIs

What do you mean by "more hidden /business line" what is this?

The majority of business CCs don't report to personal credit unless you default.

[kls0654]

How can I get started on this?

 

Can you please point me to a conversation about this?

[mendelssohn]

How can I get started on this?

 

Can you please point me to a conversation about this?

Apply for business CCs.

[kls0654]

Will they check personal credit reports?

[Konrad2012]

 

 

- more *D

- more combining

- more hidden/business TLs

- CLIs

What do you mean by "more hidden /business line"

The majority of business CCs don't report to personal credit unless you default.

Ink Plus is coming soon...need to start searching for offers

Edited December 26, 2014 by Konrad2012

[mendelssohn]

Will they check personal credit reports?

Yes.

 

 

 

 

 

- more *D

- more combining

- more hidden/business TLs

- CLIs

What do you mean by "more hidden /business line"

The majority of business CCs don't report to personal credit unless you default.

Ink Plus is coming soon...need to start searching for offers

That's on my January 2016 hit list (my reports are clean).

 

I applied when the bonus was 70K and was declined. Even with a 50K bonus, it's easy to accumulate points quickly with the 5x categories.

[Civiljudgements]

Thank you for starting this topic Funkie, it has mad me realize that I have a lot of work left to do (reality check).

 

1. Work on remaining judgements on all 3 cra's.

2. 2 remaining CO's, Cap 1 and HSBC.

3. 5 paid collections all attached to one of the paid Judgements.

4. On a more positive note, keep all accounts at a $0 balance except for 1 ($2 balance).

5. Graduate my local CU card to unsecured in February.

6. CLI on my NFCU M/C and NavChek in a few months.

7. Contine reading and learning on CreditBoards everyday.

8. Make it to 700!

 

Thanks all for making 2014 a great year for my rebuilding progress, if not for everyone here I would still be at the bottom.

[oldtimer1]

Funkie and all,

 

I have plans to keep striving to improve my credit worthiness in the coming year. In January of this year I started my credit repair/rebuilding journey and have had great progress in my opinion. The year started with credit scores in the low 600 range to today where I have solid 700's across the board. My files were loaded with derogs ranging from liens, judgments, and med collections that really had been ignored by me for a few years. A promotion at work prompted me to do a reality check that started me on my journey. What a mess I was and I feared my company would be doing a background check on this role I was about to be offered. (BTW - they didn't and I did get the role, but thank God it made me get real about taking care of my personal finances! Even if I am 50 yrs old!)

 

In the last 12 months all of the derogs have either rolled off my files or have been resolved in some other other fashion. I think patience was the key and patience is really needed when dealing with Med Collections. You all can find my story in WhyChats Medical Collections forum on CB. I can't thank WhyChat and others enough for the help and encouragement to get that accomplished! (An aside - also all TU/EQ Inqs clean. Only EX has 11 with 4 due to roll off in the early spring - B* experts really helped thanks)

 

For 2015 I have the basic goal of getting my scores into High 700s or even to 800 and if I take care of business, I think I have a legit shot! For credit card action see below where I started from and what I plan to do in 2015 with credit. Feedback most welcome.

 

My Credit Cards Pre-2014 (I lived a cash life)

• CapOne $500
• Cortrust $250
• CreditOne $750
• Merrick $1,000
• Orchard #1 $300
• Orchard #2 $300
• JC Penney $600
• Wells Fargo $1,000
• Total $4,700

 

Today

• Diner's Club Premier $20,000 (Not Reporting)
• Diner's Club Elite $20,000 (Not Reporting)
• AMEX Skymiles $15,000
• Barclay USAirway $7,500
• Barclays Rewards MC $6,500
• CapOne 5178 $2,250
• CapOne QS 5178 $1,000
• Chase Amazon $6,000
• Chase Freedom $6,000
• Citi AAAdvantage $7,000
• Discover It $1,200
• HomeDepot Consumer $9,000
• JC Penney $4,000
• NFCU Cash Rewards $18,000
• NFCU Flagship $15,000
• PayPal Extras $1,500
• United M Plus Explorer $5,000
• USAA Visa $2,000
• WalMart MC $3,000
• Wells Fargo Visa $2,200
• Total $152,150
• (I came a long way and added 148K in TL and doesn't inlcude $15K CLOC af NFCU)

 

2015 Action Plan for Credit Cards

 

• Close both CapOne Cards if I can’t consolidate CL to QS. These guys don’t like me and I really don’t like them.

• Close Barclay’s US Air Card and move CL to Rewards MC unless someone sees a better plan or knows a reason to keep it open. Already have the bonus miles added to my Dividend account.

• Amex Skymiles – 3X CLI in Feb

• Close Discover It – not sure I will get love from them having had a low SL.

• Open CSP and hopefully get an offer from Chase first – will be late in 2015 as I had 3 Chase cards in 2014. If I am approved I will likely close my Freedom and move my CL over to the CSP.

• I have 2 AMEX cards that are backdated to 1983 helping my overall AAOA (5 Years) at this time. I want to add 2 more in the near future. My target card is the SPG and I get monthly offers from them as I stay in their properties on a monthly basis. Not sure what other AMEX I might try for to round out the MSD play.

• Try to convert my Chase United MPlus Explorer to the Club version. I know it’s a higher AF but I really need the club access. I fly 99% on United as that’s where my status is these days. Not sure if it’s a simple call to Chase or what, but I will try.

• Close JC Penney – I have SD’d this card since it carries a 26.99% APR – really? It is one or my older lines that has open date of 2008. Closing it won’t harm my AAOA and will keep the DW from potentially using it on a whim.

• PayPal Extras MC – close this one. I really messed up here as it was a pop-up offer on my account dashboard. Wish I hadn’t applied and I really don’t like Synchrony.

• Keep after CLIs with NFCU.

• Enjoy the heck out of my hidden TL with Diner’s Club.

• After all of this completed I think it will have been a great 2015 on the revolving credit front!

 

 

Thanks for letting me share and document my plan, Oldtimer

 

 

[funkiehouse]

 

 

 

 

I somehow missed the story before the picture that you posted later. I'll be the first in line on the day your shop opens.

Sweet. We're hoping for either a Huntington Beach, Redondo Beach or Santa Monica location if all works out. We may be priced out of doing everything we want to do because of initial startup funds and higher lease prices per SqF in those areas. We'll see how it goes. We have a few years to get it all figured out.

Huntington would be preferable...I don't bother driving to SM our the Redondo beach Beer Pier anymore.

You could pull that off in Irvine, Tustin and all over OC.

Yeah OC is where we eventually want to live. I think it would do well in Huntington but not near the water. The weekends would do pretty well but I think the bulk will come from the lunch business crowd. There are some good inland spots that I have seen. I think Laguna Beach would be a great fit but it would need to be smaller due to real estate costs.

I was born in South Laguna Beach. Very nice, very expensive. Not a lot of a real business-like crowd you are looking at for that place.

 

Irvine, Newport, Tustin, Costa Mesa (North Side), Santa Ana (by the Civic Center or South Coast plaza biz district), Orange (by the City/UCI Med Center) those are the places that pop in to my mind. Unless you go North County like Brea and Fullerton...

 

 

The area around the Santa Ana mall and civic center are both areas I have interest in. Fullerton near UC was another place. Thanks for the other tips!