Credit Scores

Two things..

I've been watching one score over time so I decided to splurge on a one-time look at another score. It was only two points off the one I'm watching so that was comforting.

The score I've been watching went up 4 points last month and 7 points this month. There weren't any explanations attached but I have a couple theories. This month I paid off both cards right before the statements so the balances were low and zero. Also, I think inquiries for my car loans should start falling off any time now. I think they stay for a year and I bought my car last June.

Normally I wouldn't care about such trivial things, but my score's at 748 now (one of them, one close behind, third unknown) and I'm ultimately aiming for 760+. 7 points could mean a difference in rates at mortgage time. So I've learned to pay off my cards right before the statement, and not request anymore credit. It's almost silly.. in the past number of months my card has had no more than $300 balance when the statement goes out, which coordinates with when the score changes come through. $300 is like, not even 4% of my combined credit limits.. Sheesh.

Monthly Update

Build emergency fund to 6 mo expenses - 100.8% (Up 10.5%)
Pay off car loan - 6.2% (Up 1.5%)
Pay off student loan - 7.1% (Up .3%)
House down payment - 1.1% (Up 1.1%)

Woohoo! See that? Thanks to the economic stimulus package and the usual savings my emergency fund goal is met!

I had paid ahead on my student loan about 5 or 6 months and I'm letting that catch up a bit, just covering interest in May. At this point I'd rather put it in the down payment fund. I'd really like to pay extra on the car loan but that would seriously hinder the down payment savings and I'm getting very anxious. Also, at the great rate it is at, I really think I should pay no extra until I'm ready to pay the whole thing off - preserve my liquidity as much as possible and all that.

I also had a good month lawn-mowing and teaching knitting classes.