If I pay some of my debt(I owe about 4K...current credit cards)
How fast will it show on my credit report?
I was thinking using some of my down to pay my credit card this week and getting auto loan in two week.
Is it too soon to show up on my report or should I just used it all on my down.
2006-11-20 11:56:56 · 4 answers · asked by Eko A 1 in Business & Finance ➔ Credit
It will not do anything until the creditor reports.
Some creditors report monthly other bi monthly some only report every 4-6 months.
Chances are it will be within 45 days.
2006-11-20 14:26:01 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I would go to the car dealer and let them pull a credit report and ask them. It probably won't matter a lot unless you have a lot of debt to income which is really what they look at as far as interest rates go. If you make just enough to pay your bills and have debt that will increase your cosrt of living, then the car too? Just get to know one of the dealers and see if it would be worth it. Try more than one really to see. Cars are hard to sell these days. Go in with a price and stick to it. What you can afford each month only, no more.No matter what the debt needs to go down too, so, if you want to wait it would be better probably because if you go in there they won't let you leave haha, good luck.
2006-11-20 12:08:01 · answer #2 · answered by MISS-MARY 6 · 0⤊ 0⤋
It can take 30 to 90 days for credit card companies to report new balances to credit reporting agencies. Score may change when balance is paid down significantly.
2006-11-20 12:00:26 · answer #3 · answered by RedSoxFan 4 · 0⤊ 0⤋
start charging things and pay off the balance as soon as the bill comes
2006-11-20 12:03:59 · answer #4 · answered by Jenny A 6 · 0⤊ 0⤋