Tuesday, April 22, 2008

Racking up Points on Your Credit Score

A WSJ article this morning spoke about strategies folks go through to boost their credit score.

While I learned a thing or two about what to or not to do. The most telling part for me is the quote from Darrell Booker, who in the past year has tried a number of ways to boost his score. Included in his efforts have gone from removal of late payments to paying big bucks to a company to help him clean up his credit.

However (much to Darrell's credit) he realized the only real boost to his score came when he focused on paying off his credit cards. "Let me focus on things I know I can totally control," he says, "and that's reducing my debt."

That's about where I'm at.

Thursday, April 17, 2008


I've been trying to get this update out for the last few days. Life's been happening.

Yeah on the AX home front!!! The lowered rate has slashed my interest owed by $30.
I was in the process of sending AX an additional $100(extra payments for this billing cycle have totaled $425 so far), but the billing cycle is over. The May bill is $223.76. I decided not to wait. Even though this money wasn't going toward the flex payment balance, I sould be able to send them an extra $400 or more by month's end. Sooo............I reasoned::

$100 +
35.25 +(Motor Vehicles refund)
40 + (the $ I'd been paying Cititbank)
18 +(the difference between March & April's Bof A min.)
.51 (to round out the bill)
Total $193.76
I only have $30 before delve into the flexible payment balance. I've worked a little extra last month. Yes!!! Mo' money. Mo' money.

Wednesday, April 09, 2008

Daily Chores

I feel great!!! Now the real reason is cause God woke me up this morning and ya know He could have chosen differently. Barring that I finally secured an interest decrease from AX. 12% thank you very much. I'm now at 15.99, which M. told me she was doing as a courtesy for me because of my tenure w/them. LOL. This being my 3rd call. Not bad. I'll continue to make on time payments and then go for another rate reduction in four months. In addition a small bit of research made me aware prime is now 5.25%-down from 6%.

Tried the same w/BofA and asked them to reopen my acct. NOT!!! S. advised me to get an updated copy of my CR to have any mistakes removed; see if I could get my collection item removed by going back to the original source to negotiate direct payments to them. While I noted the reason for them closing the acct had nothing to do w/my coll item. That wasn't acknowledged. If nothing else it was an insightful convo and I will make another attempt soon. My monthly payment w/them decreased $18, which AX will have the courtesy of getting.

Lightning bolt!! The AX rate is now lower that BofA by 3 points. Hmm. Do i do it the psychological Dave Ramsey way or the DA wayby getting rid of the largest debt. More to think of. In the meantime I'll make another phone call.
peace y'all

Sunday, April 06, 2008

Week Close

This week has come to a close. Feel tired. Found out some more news today regarding my credit report.
peace out!

Thursday, April 03, 2008

The GOOD and the NOT SO GOOD

Earlier this week the M-Network's members blogged about their best and worst financial decisions. These are some of mine.
The Good
1-Still in an investment club I joined in 1997.
2-My land purchase.
3-Loving my self enough to handle my $; tracking debt reduction/spending; reading books and pf blogs; journaling; .
4-Saving little by little for bills that are due yearly. As a matter of fact I used the $ from my landowners fees toward the elimination of the Citi bill. I can pay them monthly and there is no interest.
The Not so Good
1-Not communicating around my ability to repay; burying my head in the sand and guaranteeing interest rate increases.
2-Not building on the land. Means I don't have a place to go or make passive income (the payoffs are low taxes and no mortgage).
3-Not paying attention to the fees of my SEP. I just found out they were deducted 2x yearly. Not funding it consistently or often.
4-Procrastinating on the personal tax tip.