Wednesday, March 17, 2010
I found out today that my credit score is 700.
That may not mean much to some of you, but if you knew my credit history you would be as amazed as I am.
It all started when my sister and I were driving in my HOT CAR (the air conditioner is blowing VERY HOT AIR) when she asked me if I really want to pay to fix it. I am not going to lie, after the last problem I had with my car I seriously considered buying a new car, but I figured with my credit history I did not think I would be able to. This conversation put a bug in my head to see what my credit score is, the last time I checked it was 619. I was not hopeful because I am sitting on almost $100,000 of student loan debt plus $10,000 of credit card debt. I logged on to Myfico.com, paid the $15.95, and almost had a heart attack. You could have knocked me over with a feather.
Being able to see the progress I have made with improving my credit score has given me the resolve to continue to pay off my credit cards. I am more determined now than ever before.
Lessons To Be Learned
1. PAY YOUR CREDIT CARDS ON TIME, EVERY TIME, NO EXCEPTIONS.
I still have a ways to go in getting myself out of debt, but I pay my bills early if not on time every month. It obviously makes a world of difference.
2. STUDENT LOANS DO NOT HURT YOU AS MUCH AS YOU THINK.
I thought with the amount of student loan debt that I have I would never be able to have a decent credit score. But I do, and so can you.
3.BUT PAY THEM ON TIME.
I pay my student loans on time every month with out fail. When I had some financial problems I deferred the payments until I was able to get back on my feet. Do what you have to do to keep up with the payments.
4. DON'T GIVE UP.
I have had plenty of slip ups but I haven't given up, as long as you are alive you can improve.
I haven't felt this good in a long time.