I opened up a credit card through my bank. unfortunately the apr is 24%. I have payed off all the out standing debts on the card. How long does it take to see results from my score?
2006-09-22 14:20:44 · 4 answers · asked by curt a 1 in Business & Finance ➔ Credit
as long as your bank is updating the credit line you should see results within 30 days of every on time payment. the apr is high, but don't close the trade line, established credit is a great thing to have.
2006-09-22 16:19:02 · answer #1 · answered by bella_4624_19 4 · 0⤊ 0⤋
That would all depend on when the the 3 credit goorulls ran there last credit checks on what has or hasn't been reported to either or any of them. Keep in mind you can't leave a gap of 2 years without any credit action on your part, they tend to forget about you, so to be on the safe side a new loan of some kind within that 2 year span would be wise. payoff early is a real good practice and just oweing something keeps you on the Talley. Since you've gotten this card from your bank, I'd think that keeps the door open to you for future loans of larger amounts. A rule of thumb for you. Never ever have any one bill equal a quarter of your monthly income, within 6 months you'll know why, and why?? you'll start to get behind on all your bills trying to keep up??? BEEN THERE,DONE THAT
2006-09-22 21:56:49 · answer #2 · answered by plowboy 2 · 0⤊ 0⤋
Make sure you keep the accout open because available credit helps raise your score. It takes 30-60 days to show positively on your report.
2006-09-23 14:43:48 · answer #3 · answered by fromthecrescentcity 1 · 0⤊ 0⤋
Dude are you serious 24%
2006-09-22 23:41:05 · answer #4 · answered by Detective Emil 3 · 0⤊ 0⤋