How Long To Raise a Bad Credit Score?

Question

Well I just recently learned that my credit score is really low and it is below 520. I don't know the exact score but I just know it is lower then that. I currently have a credit card bill I am working on paying off on time(after I was late for a little while) but my question is what do I need to do to make my credit better and more importantly HOW LONG WILL IT TAKE to make it better? I am looking to get into the 600 range....THANK YOU FOR YOUR HELP!!

Answer 1

All of the previous answers are correct in their own right. However, unsecured debt, such as a credit card payed off timely does very little to raise your credit score. What really boosts credit scores is repetetive on time payments on secured debts.....mortgages, car notes, student loans, etc. To have a score that low you must have had some charge/write offs. I would work at making those accounts right before incurring any more debt in the form of credit cards. And then see about getting a car note in your own name and staying good on that for about 2 years time and you should be in much better shape.

Answer 2

After you have gone delinquent on an account it takes 7 yrs for it to clear up on your credit report. Some suggestions are to call the creditor and work out a payment plan and pay off the debt. When you pay off the debt get an orchard credit card or household bank card, the limit is low like $300 but there is no annual fee and there is no other account set up fee. What you can also do is have someone add you onto their account say like your parents or someone else who is willing to have you piggy back on their account. But really the best thing to do is pay all your bills on time and keep your balances low and also do not apply for credit unless you absolutely are sure that you will get it. Also keep track of your credit report and score, make sure everything is correct and if not dispute the information. Trust me I'm going through the same thing you are, but my credit score went up 28 points in the past 3 months. Its tedious but in 2 or 3 yrs is should go up.

Answer 3

The only way to increase a personal credit score is to pay accounts in the manner agreed, do not exceed the credit limit and keep the debt to income to credit ratio at an acceptable level. Building or rebuilding a good credit score takes time and vigilant effort, generally 12 months of responsible credit use will improve credit scores. Read more from: http://www.credit-card-forums.com/thread/2318

Answer 4

you can figure on 6 - 12 months provided you pay your bills on time, pay down your credit cars to below 30% of your limit. Credit is a long term snapshot on how you pay your bills. Next do not apply for more credit that will bring down your score approximately 5 points for every inquiry. Hope this heplps

Answer 5

Contact one of the credit bureaus to obtain the address and/or contact number for the agency handling the debt (most of the time, it will be a collections agency). You can pay the debt and obtain a verification of paid-in-full status from the collections agency for your personal records, but it is unlikely that the debt status will be removed from your credit report. Bad debts remain on a credit report for up to 7 years. Paying the debt will not necessarily increase your score at all, and if it does, it may take years for the impact to become positive.

Answer 6

The fastest way to improve your credit scores is by doing some credit repair.

There is a lot to write about credit repair; too much to write here.

You can visit my site below that explains everything or you can search elsewhere online, but whatever you do, educate yourself on the subject.

Good Luck!

Answer 7

Make sure you read the whole thing, but this site will give you everything you need to repair, raise and see your credit score. :)

www.intellibiz.com/credit.html

Answer 8

3 months to a year