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Zanshiro

Zan's Credit Journey

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They did an EQ pull, currently 728 FICO 08 there, for a DP. I'll try to remember to put it in CP database at work later.

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And then, to update minor goal steps along the path:

 

In my 3-4 year long term goal of being fully debt free and clear (No disasters hitting, hopefully), I shifted 20k from the HELoC onto 0% offers from US Bank and Discover, which have 16 and 14 months, respectively.

 

Major things left, organized largest to smallest interest rates (After 0% expires of course):

 

1) CC Debt - 42,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. (Inclusive of the 30k I've shifted from HELoC over the times)

2) HELOC 30k @ 4.29% (5 years left on ability to flex that if needed)

3) About 60k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 7k @ 1.74% (Keeping this through local CU, other offers are far worse) - Car's about a wash if I had to trade it currently, which I have no plans on doing. Till the proverbial wheels fall off! (Or 'til maintenance outpaces would-be payments, more accurately)

 

My plan's been to focus on fast-burning payments on the HELoC, make minimums on others, and burn the HELoC down quickly while keeping utilization under 50% and my DTI under 30% (I've been dedicating about 65% of overall income towards this with a tighter-belt budget). My theory is that I can always pay it back off with the HELoC in the case that my dastardly plans go haywire for any reason. Any thoughts, advise, or other?

 

Other things of note: Income's currently up to around 86k/yearly, but in sales, of course, it fluctuates and isn't a 'steady and stable' amount. Last month was big, this month is shaking out that way too, so the more the chunk I dump on things. The second job is steady and stable @about 20k/yr just part timing while my business has been picking up with my personal company, so hopefully that trend continues, and I'll see greater gains towards that, which all can funnel back onto the debts.

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On another random note, I *might* have found why BofA had their random tick-up-their-bum AA a ways back. I actually logged into the "Trusted ID" mess that EQ gave us after the big hack just for S&G mostly...and lo and behold on their "Equifax Credit Report" and "Credit Information" it looks like they have a DTI breakdown. I'm sure they offer some sort of DTI offering to the lenders, and that could be how mine got jacked up.... the new NFCU mortgage is showing there at over $850 a month, when my total payment I make is $455 right now ($452 and some change actual payment required). I called NFCU but they claim they can't send it in, it has to come from the CRAs. But on my Equifax report, it shows as a $452 monthly payment, so I'm not even sure how/what I'm disputing there -_- Either way, it's about a 6% swing in DTI, which I suppose the bank could get jittery on with how I've been paying down things and shifting HELoC over to cards for 0% offers?

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And then, to update minor goal steps along the path:

 

In my 3-4 year long term goal of being fully debt free and clear (No disasters hitting, hopefully), I shifted 20k from the HELoC onto 0% offers from US Bank and Discover, which have 16 and 14 months, respectively.

 

Major things left, organized largest to smallest interest rates (After 0% expires of course):

 

1) CC Debt - 42,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. (Inclusive of the 30k I've shifted from HELoC over the times)

2) HELOC 30k @ 4.29% (5 years left on ability to flex that if needed)

3) About 60k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 7k @ 1.74% (Keeping this through local CU, other offers are far worse) - Car's about a wash if I had to trade it currently, which I have no plans on doing. Till the proverbial wheels fall off! (Or 'til maintenance outpaces would-be payments, more accurately)

 

My plan's been to focus on fast-burning payments on the HELoC, make minimums on others, and burn the HELoC down quickly while keeping utilization under 50% and my DTI under 30% (I've been dedicating about 65% of overall income towards this with a tighter-belt budget). My theory is that I can always pay it back off with the HELoC in the case that my dastardly plans go haywire for any reason. Any thoughts, advise, or other?

 

Other things of note: Income's currently up to around 86k/yearly, but in sales, of course, it fluctuates and isn't a 'steady and stable' amount. Last month was big, this month is shaking out that way too, so the more the chunk I dump on things. The second job is steady and stable @about 20k/yr just part timing while my business has been picking up with my personal company, so hopefully that trend continues, and I'll see greater gains towards that, which all can funnel back onto the debts.

Equifax is a mess. There must be something with Equifax and NFCU. I have 1 CC, a car loan and a CLOC with NFCU. Equifax has been reporting the car loan as a revolving account with the remaining 8K+ as an outstanding CC balance depressing my score from 775+ it should be to 764. Discover pulled EQ and I suspect the small CL it gave me has to do with these errors on my EQ report.

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So my dispute seemed to have no effect, the update on EQ's own Trusted ID says it received a "negative comment" but it just says "Fixed Rate" on main report now. The DTI type page there remains the same with no comments. Any idea where to write/call/kick to try to resolve if that's the error?

Edited by Zanshiro

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S

 

 

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Welcome, Wanda. Did you accidentally sit on your phone or were you trying to post something? :)

I think I accidentally sat on my phone

 

 

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Equifax is a mess. There must be something with Equifax and NFCU. I have 1 CC, a car loan and a CLOC with NFCU. Equifax has been reporting the car loan as a revolving account with the remaining 8K+ as an outstanding CC balance depressing my score from 775+ it should be to 764. Discover pulled EQ and I suspect the small CL it gave me has to do with these errors on my EQ report.

Are you using reports directly from Equifax or something like Credit Check Total?

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On 5/19/2018 at 1:42 PM, Zanshiro said:

And then, to update minor goal steps along the path:

 

In my 3-4 year long term goal of being fully debt free and clear (No disasters hitting, hopefully), I shifted 20k from the HELoC onto 0% offers from US Bank and Discover, which have 16 and 14 months, respectively.

 

Major things left, organized largest to smallest interest rates (After 0% expires of course):

 

1) CC Debt - 42,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. (Inclusive of the 30k I've shifted from HELoC over the times)

2) HELOC 30k @ 4.29% (5 years left on ability to flex that if needed)

3) About 60k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 7k @ 1.74% (Keeping this through local CU, other offers are far worse) - Car's about a wash if I had to trade it currently, which I have no plans on doing. Till the proverbial wheels fall off! (Or 'til maintenance outpaces would-be payments, more accurately)

 

My plan's been to focus on fast-burning payments on the HELoC, make minimums on others, and burn the HELoC down quickly while keeping utilization under 50% and my DTI under 30% (I've been dedicating about 65% of overall income towards this with a tighter-belt budget). My theory is that I can always pay it back off with the HELoC in the case that my dastardly plans go haywire for any reason. Any thoughts, advise, or other?

 

Other things of note: Income's currently up to around 86k/yearly, but in sales, of course, it fluctuates and isn't a 'steady and stable' amount. Last month was big, this month is shaking out that way too, so the more the chunk I dump on things. The second job is steady and stable @about 20k/yr just part timing while my business has been picking up with my personal company, so hopefully that trend continues, and I'll see greater gains towards that, which all can funnel back onto the debts.

 

Updating the above:

After almost clearing the issues of house, new situation (Post disaster that I jinxed myself with? :P😞

 

1) CC Debt - 12,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. 

2) HELOC 40k @ 4.29% (5 years left on ability to flex that if needed)

3) About 58k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 6.3k @ 1.74% (Keeping this through local CU, other offers are far worse) 

 

Emergency accounts: ~5k liquid, 8k 401k  (work), 11k (Robinhood, taxable 401k), 1k (M1 Finance, started a DRIP process there with several DGI-style stocks)  Good advice on how best to setup those?  Should I be looking into more Roth angles as opposed to traditional 401ks?  Or is there a better method to use?  I could push more (slightly) in my company's 401k, but their match is around 2%, and my ROI there is about 10% for the year, while I'm doing 18% in my own investments, so I don't feel the 'bonus' 2% I'd get is worth shoving more there than into my own investments currently.

 

Updating on FICO (08s), as I forgot that minor part of the equation:  TU 757 / EQ 738 / EX 738 - TU benefits by them having told Chase's 30-day late from way back when to FOAD early, while the others aren't as merciful :D  So I guess that one 30-day late over 6 years ago is roughly the difference in the sets (19 points), as other than that one difference, they're mirrors.

Edited by Zanshiro
FICO update, forgot that part.

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On ‎10‎/‎3‎/‎2018 at 7:06 PM, Zanshiro said:

 

Updating the above:

After almost clearing the issues of house, new situation (Post disaster that I jinxed myself with? :P😞

 

1) CC Debt - 12,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. 

2) HELOC 40k @ 4.29% (5 years left on ability to flex that if needed)

3) About 58k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 6.3k @ 1.74% (Keeping this through local CU, other offers are far worse) 

 

Emergency accounts: ~5k liquid, 8k 401k  (work), 11k (Robinhood, taxable 401k), 1k (M1 Finance, started a DRIP process there with several DGI-style stocks)  Good advice on how best to setup those?  Should I be looking into more Roth angles as opposed to traditional 401ks?  Or is there a better method to use?  I could push more (slightly) in my company's 401k, but their match is around 2%, and my ROI there is about 10% for the year, while I'm doing 18% in my own investments, so I don't feel the 'bonus' 2% I'd get is worth shoving more there than into my own investments currently.

 

Updating on FICO (08s), as I forgot that minor part of the equation:  TU 757 / EQ 738 / EX 738 - TU benefits by them having told Chase's 30-day late from way back when to FOAD early, while the others aren't as merciful :D  So I guess that one 30-day late over 6 years ago is roughly the difference in the sets (19 points), as other than that one difference, they're mirrors.

Very Nice. Good to see folks planning ahead and sticking to it. I also like the way you have configured things. Nicely analytical. As for Roth, etc. a lot depends on age, work stability, and other personal/family? considerations. Given your approach above, you will likely make much better decisions that any suggestions I could offer.

 

Keep up the great work!

 

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Finally heard back from BofA with the letter from ICAN's thread.  They said their reason for shutting everything I had with them down out of the blue was my high DTI ratio on my TU report.  I asked them what they based that on, as my DTI was nowhere near offensive.  I know I've updated my income with them before to achieve CLIs more easily, and yet they claim it was listed at my 2002 salary still (Around 36k/year)....Which, wouldn't that be a bit ludicrous to extend me all that credit, then see that I'm floating 25k-ish, and revoke everything?

 

Well, they said they could offer to open me a new card only, and wouldn't backdate it, because "Those terms and conditions you had on your original card are no longer available" --- So essentially, it's still an FOAD letter from them, bwahahaha.  Oh well, bye-bye BofA, thanks for the memories!

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Update for the New Year Plot:

 

MOST of house is done with recovery.  Still need cabinets and interior doors (Because why would I need doors?  Save that for last)  So in the few thousand likely to get all that wrapped up.  Current status:

 

Updating the above:
 

1) CC Debt -  Going to (hopefullyover)estimate 5k to finishing house, and say 31,,000 combined - will need to flip these to 0%, likely target the NFCU Platinum for the 12 months @ 0%, and then another option so it's not all in one, as I don't expect they'll throw me a 50k line.

2) HELOC 45k @ 4.89% (1.2 years left on ability to flex that if needed - Was the shorter, so I was mistaken prior...WF's doing their famous "Your contract was with Wachovia originally, we're adjusting it, and the hybrid lock is gone") -- That makes me want to flip this away from WF, and the DCECU looks pretty darn good for the interest refund potential.  If not, that rate's right in line anyway.  Other suggestions here?

3) About 57.2k on mortgage @3% (Refi end of 2017 through NFCU)

4) Used car loan 4.9k @ 1.74% (Keeping this through local CU, other offers are far worse) 

 

Emergency accounts: ~5k liquid, 8k 401k  (work), 11k (Robinhood, taxable 401k), 1k (M1 Finance, started a DRIP process there with several DGI-style stocks, put that in Roth 401k so that dividends aren't taxed)  

 

Updating on FICO (08s),  TU 768 / EQ 754 / EX 754 - None of them show Chase late anymore, yay.  However, now I'm perturbed that I can't tell anything difference besides the scores, even when a pair of banks updated scores the same time frame.  Ah well, nothing to do but gardening a long while after these BTs, get in shape to get a travel card and a CSR (Or whatever's cool at the time :P)

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4 hours ago, Zanshiro said:

Update for the New Year Plot:

 

MOST of house is done with recovery.  Still need cabinets and interior doors (Because why would I need doors?  Save that for last)  So in the few thousand likely to get all that wrapped up.  Current status:

 

Updating the above:
 

1) CC Debt -  Going to (hopefullyover)estimate 5k to finishing house, and say 31,,000 combined - will need to flip these to 0%, likely target the NFCU Platinum for the 12 months @ 0%, and then another option so it's not all in one, as I don't expect they'll throw me a 50k line.

2) HELOC 45k @ 4.89% (1.2 years left on ability to flex that if needed - Was the shorter, so I was mistaken prior...WF's doing their famous "Your contract was with Wachovia originally, we're adjusting it, and the hybrid lock is gone") -- That makes me want to flip this away from WF, and the DCECU looks pretty darn good for the interest refund potential.  If not, that rate's right in line anyway.  Other suggestions here?

3) About 57.2k on mortgage @3% (Refi end of 2017 through NFCU)

4) Used car loan 4.9k @ 1.74% (Keeping this through local CU, other offers are far worse) 

 

Emergency accounts: ~5k liquid, 8k 401k  (work), 11k (Robinhood, taxable 401k), 1k (M1 Finance, started a DRIP process there with several DGI-style stocks, put that in Roth 401k so that dividends aren't taxed)  

 

Updating on FICO (08s),  TU 768 / EQ 754 / EX 754 - None of them show Chase late anymore, yay.  However, now I'm perturbed that I can't tell anything difference besides the scores, even when a pair of banks updated scores the same time frame.  Ah well, nothing to do but gardening a long while after these BTs, get in shape to get a travel card and a CSR (Or whatever's cool at the time :P)

This is a high-quality problem.  :lol: 

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17 hours ago, cv91915 said:

This is a high-quality problem.  :lol: 

Once the dust settles from the above adjustments above, I will see if I can pick apart FICO nuances.  Mini-memory jolt tells me that on TU, the HELoC wasn't counted as a revolver, but as real estate, while on EQ and EX, it was.  I think I just solved the issue, in the form of a utilization % difference, possibly, eh?

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Qualified for 401k at my PT job.  They use Vanguard, which I prefer to my FT job's Fidelity, and in a bit of sadness, setup the day after Jack Bogle's death. 😢  Setup the 401k there as a Roth, putting 90% of income towards it, they do a 4% company match, which also beats my FT's 2%.  So I'll fully load up there beforehand.  I've also shifted my FT job to 20% of total income contributions for the year.  That should actually be over IRS limits, but since I haven't had this 'issue' before, will one hand know what the other hand's doing in terms of stopping before going beyond limits?  Doesn't seem like it, so I'll have to do some juggling end of year likely.

 

Windfall of $3k, throwing that on the HELoC for overall interest savings, which can always be re-flexed before the 0% cards are due if need be.  But for now, FICO be damned, lowest interest stays 'til the end....especially when it's 0%!

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Well, seems my taxes went up this year, as many found.  Original estimate on that NYT calculator was essentially a no-change (+/- $10), but with the mortgage interest no longer being eligible and a few other things, I'm in standard deduction range, and rather than the tiny net $300-ish back from last year, I owe about $250.  Not an amount I'm mad at keeping the interest-free loan, but still a $550 swing is annoying.  With the promotion at work, however, I need to tweak the W4 because it could get too big to desire in a lump-sum pretty rapidly.

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4 hours ago, Zanshiro said:

Well, seems my taxes went up this year, as many found.  Original estimate on that NYT calculator was essentially a no-change (+/- $10), but with the mortgage interest no longer being eligible and a few other things, I'm in standard deduction range, and rather than the tiny net $300-ish back from last year, I owe about $250.  Not an amount I'm mad at keeping the interest-free loan, but still a $550 swing is annoying.  With the promotion at work, however, I need to tweak the W4 because it could get too big to desire in a lump-sum pretty rapidly.

Mortgage interest is still deductible for mortgage amounts up to $750,000.

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4 hours ago, cv91915 said:

Mortgage interest is still deductible for mortgage amounts up to $750,000.

Hmm, I can still fix before it goes out.  And odd the bank didn't send me a 1098 on it; I'll have to poke online and see. Thanks, shows my scatterbrain with everything going on!

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Welcome, Wanda. Did you accidentally sit on your phone or were you trying to post something? default_smile.png

Accidentally sat on phone


Sent from my iPhone using Tapatalk

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Qualified for 401k at my PT job.  They use Vanguard, which I prefer to my FT job's Fidelity, and in a bit of sadness, setup the day after Jack Bogle's death.   Setup the 401k there as a Roth, putting 90% of income towards it, they do a 4% company match, which also beats my FT's 2%.  So I'll fully load up there beforehand.  I've also shifted my FT job to 20% of total income contributions for the year.  That should actually be over IRS limits, but since I haven't had this 'issue' before, will one hand know what the other hand's doing in terms of stopping before going beyond limits?  Doesn't seem like it, so I'll have to do some juggling end of year likely.

 

Windfall of $3k, throwing that on the HELoC for overall interest savings, which can always be re-flexed before the 0% cards are due if need be.  But for now, FICO be damned, lowest interest stays 'til the end....especially when it's 0%!

 

You may have to adjust your contribution rates to match the IRS limits. There are limits per person and per account. You could be penalized if your contributions are over the limits.

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On 10/3/2018 at 10:06 PM, Zanshiro said:

 

Updating the above:

After almost clearing the issues of house, new situation (Post disaster that I jinxed myself with? :P😞

 

1) CC Debt - 12,000 combined - all at 0% float currently, will be paid off before the 0% periods expire. 

2) HELOC 45k @ 4.29% (5 years left on ability to flex that if needed)

3) About 58k on mortgage @3% (Refi last year through NFCU)

4) Used car loan 6.3k @ 1.74% (Keeping this through local CU, other offers are far worse) 

 

Emergency accounts: ~5k liquid, 8k 401k  (work), 11k (Robinhood, taxable 401k), 1k (M1 Finance, started a DRIP process there with several DGI-style stocks)  Good advice on how best to setup those?  Should I be looking into more Roth angles as opposed to traditional 401ks?  Or is there a better method to use?  I could push more (slightly) in my company's 401k, but their match is around 2%, and my ROI there is about 10% for the year, while I'm doing 18% in my own investments, so I don't feel the 'bonus' 2% I'd get is worth shoving more there than into my own investments currently.

 

Updating on FICO (08s), as I forgot that minor part of the equation:  TU 757 / EQ 738 / EX 738 - TU benefits by them having told Chase's 30-day late from way back when to FOAD early, while the others aren't as merciful :D  So I guess that one 30-day late over 6 years ago is roughly the difference in the sets (19 points), as other than that one difference, they're mirrors.

So updating the update after the mini-catastrophes, and with some life changes.  While the last year and a half was going, I went back to school, finished my associate's (Business Management/Finance), and am adjusting to try and keep that plan on at least within the 5 years total of starting track.  Total repairs after said flood and findings ended up around 37,000, which disgusts me, because that entire house could've likely been rebuilt for that.  It makes me damn tempted to go to a trade school and learn building, honestly.

CC Debt 0% floats: 37,000 currently (Yes, sadly up.)

HELOC 43k

Mortgage: 55.2k

Student loan 0%: 2400 (Paying $300/mo to pay it off before grace period expires)

Used car loan $3,400 @1.74%

 

Emergency accounts: ~8k liquid, 17k 401k  (work prime -12k of that Roth, rest standard), 12k (Robinhood, taxable 401k), 2k M1 Finance.

 

Took a promotion at the PT job and it's now full-time, so around $800/wk as the second salary, 30% of it goes into the Roth 401k, rest goes to paydowns.  Nothing like a kick in the shins while you're running a marathon, right?  But yearly post for self-accountability.

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8 hours ago, Zanshiro said:

So updating the update after the mini-catastrophes, and with some life changes.  While the last year and a half was going, I went back to school, finished my associate's (Business Management/Finance), and am adjusting to try and keep that plan on at least within the 5 years total of starting track.  Total repairs after said flood and findings ended up around 37,000, which disgusts me, because that entire house could've likely been rebuilt for that.  It makes me damn tempted to go to a trade school and learn building, honestly.

CC Debt 0% floats: 37,000 currently (Yes, sadly up.)

HELOC 43k

Mortgage: 55.2k

Student loan 0%: 2400 (Paying $300/mo to pay it off before grace period expires)

Used car loan $3,400 @1.74%

 

Emergency accounts: ~8k liquid, 17k 401k  (work prime -12k of that Roth, rest standard), 12k (Robinhood, taxable 401k), 2k M1 Finance.

 

Took a promotion at the PT job and it's now full-time, so around $800/wk as the second salary, 30% of it goes into the Roth 401k, rest goes to paydowns.  Nothing like a kick in the shins while you're running a marathon, right?  But yearly post for self-accountability.

Things are definitely trending in the right direction. 

 

When ups > downs you are making progress, and you are making progress! 

 

Congrats on a lot of work and a great update!  

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