How fast do credit scores rise again? I need 6 More points by the 9th of August!?

Question

Essentially I HAD 5 credit cards maxed out. Now I am buying a house and I have until July 9th before the last credit score is pulled to buy this house on the 23rd. I have never made late payments, no other issues but the balances being high... I JUST paid them all down to the Numbers below over the last week... I need a 700 or higher to get the loan, I have a 694 middle score... Oh yeah I am a full time student hence the debt:
CC Balance/Limit
CC1 7300/7900
CC2 330/1700
CC3 999/2500
CC4 320/1000
CC5 999/2500

How fast do credit scores go up? After paying over $5,000 on to this debt in the last week, Is ~20 Days enough for my score to go up 6 points???

-Links or Knowlegable people on this would be helpful - Thanks Guys!

Answer 1

"Do not" cancel any of your cards, like some have recommended. That will be a sure thing to make your scores go down.

Do not apply for any other credit until after you are approved for your home loan. Applying will only hurt you this close to trying for the home loan.

And, pulling your own report will not create a hard inquiry, like one person claimed. When you pull your own report it will be a soft inquiry not a hard.

Whether you will see an increase after paying that much depends on how fast the credit card company updates your account.

If you had paid this month before they update to the bureaus, it should be updated this month. If you paid after they updated, it won't be updated until next month. The question is when do they normally update. You might call the credit card companies and ask them the dates that your accounts are updated with the credit bureaus.

You might see just enough of a rise in your scores after paying that much, if they are updated in time.

Answer 2

It is possible, just do not charge anything or do NOT pull your credit until that day. Every time that you pull a copy of your credit report your scores drop. Since you have three credit scores the main concern is that the middle score between the three is where you need it to be. Just to be on the safe side prior to pulling that credit report you might want to contact all three bureaus to make sure that if they haven't updated your report that they do it prior to pulling. You want to have them do what is called a line item update just to the things that you have paid off or paid down. This should increase your score. Good luck.

Answer 3

Its possible to have your scores rise quickly. Between now and then you could make a giant payment. Like the $320 credit card you could pay it off (if possible) and that would make your score rise. But between now and then don't buy anything on them. Hope you get the house.

Answer 4

It takes around 30 days for new credit information to appear in your credit report and hence show up in your credit score, although it might be possible to get lucky.

Answer 5

If I were you i'd take CC3 and pay off CC2, CC4, and CC5 then cancel them, That would get rid of all the traffic that can hurt you too. Your score should jump quicker by totally clearing out debts. I had to do a similar thing buying my house 4mos. ago. They will still see you owe $$$ to 5 companies.

Answer 6

you should make sure that all accounts that HAVE BEEN PAID have been reported to the credit bureau. You need to write letters asking them to close your account and report to credit bureau and send you a copy of the notification.