My credit score status and August net worth

zieak ♦ August 21, 2007 ♦ Leave Your Comment

Since i noticed the free FICO score available to WaMu credit card holders i take a peek at it when i pay my credit card.  You can see that it took a little dip in July – probably from the addition of an American Express card to use at Costco and the Zoom Bikes accounts that Mike and i opened up.  I have heard it is wise to do credit card applications all on the same day – that reduces the number of queries to your credit reports.  Looks like lumping them in the same month didn’t hurt me too much since it bounced back up even higher than in June.  On all of my accounts i pay more than the minimum due.  Sometimes i go a little crazy with payments.  A while back Bank of America offered to pay off your credit card if you made purchases or made online payments.  So i scheduled $25 payments for each day of that month.

Last month my net worth was $44,000.  That primarily is my retirement account, home equity (which is not entirely mine), car value and liquid assets.   This month my net worth is just over $50,000.  Is that rate unsustainable?  Probably.  But summer is actually lower income for me generally.  I don’t DJ much and i spend more money on home improvements and travel.  In the winter i seem to catch up on debt (well, just pay it down).  This net worth statement does include the accounts for Zoom Bikes which are not entirely mine.  They are, however, tied to me and so warrant reporting.  I foresee another significant gain in net worth for next month as we pay the mortgage an extra $1,100 or so.  I should have completed a big web project too which should nearly erase my Zieak Enterprises credit card debt (Federal Taxes and a new computer).