Journey of Improving My Credit

I received my first credit card March 2014 which was a Discover Card. I applied for the credit card as a Student Credit Card to begin building and establishing credit. My mom has also taught me the importance of good credit. She always told me credit is essential for home and car purchases. So I did well with managing my credit at the beginning.

October 2014, I totaled my '96 Benz aka Baby Touchee. One of the most devastating days of my life. My baby was gone. I cried all day. Then hours later my mom says, "Lets get you a new car because you need to be able to get to school and work." This will sound like blessings to others, which it was of course, but I did not want a new car let alone one I had to make payments on. However, I went and my mother and I picked a car. My new baby Gabby, 2011 Toyota Corolla. I was happy to have a newer modeled car but it wasn't my Baby Touchee. In my head, I was signing my life away for many years to commit to making a monthly car note. I was still sad about that after the purchase. However, I was extremely thankful for my mother for making sure I knew not to dwell on things and make the best of it and she helped with the down payment. Forever great full.

Then, here comes Capital One trying to ruin me. (haha) Of course they started with a low credit limit then they just kept raising the limit. Next thing I know, its at $10k and maxed. (that escalated quickly huh, hahaha) So that credit card is history and buried. The year of 2017-2018, my motto was "Y.O.L.O." and I'm now paying for that. I was just spending, spending, and spending instead of making responsible financial decisions. February 2019, I created a note in my phone to track my credit score to see the rising or failing of my credit score. I downloaded Credit Karma to keep track of my credit. I love the details and notifications it constantly sent me to keep me on track. I definitely recommend this app. Now I know its not the most precise app but it provides a great ball park.

Now, this year I made it a priority to start improving my credit. My credit score at the beginning of the year was in the 400's. Yes trash af, I know. (haha) So the main decision that helped me begin improving my credit was getting a roommate to help me save money to pay on my debt. I had two collection accounts, car note, student loans and my Discover Credit Card. My credit reached 610 by April 2020, I was so proud and happy by that jump alone. It gave me hope and encouragement to keep pushing for a greater score.

Today, May 9, 2020, I have now paid off the remaining balance of my car note 8 months earlier than the loan maturity date. My two collection accounts are now paid to its entirety. My discover card has a remaining balance of $100 to pay down. I am extremely excited and proud that I have accomplished such a major milestone, paying off a car and obtaining ownership of it. I'm so anxious to see what my new credit score will be, within the next month I should see the updated report. My goal is to reach a 750 credit score by May 2021.

I hope this helps someone else to start improving their credit and to give them the hope it is possible. Start by reducing the unnecessary monthly bills and excessive spending habits you may have. Now with patience, determination and responsible decisions, you too can improve your credit score.