How many months does it take to see an improvement in your credit score?

Question

If you are paying on time, keeping credit card balances low, and not incurring any new debt? How long does it take these responsible actions to actually start causing an improvement and increase in your score?

Answer 1

it all depends are what kind of credit you are trying to build.
I have been told by many people it takes a year to really see a big change in your credit score. this also depends are if you have had any negative things that have affected your score. have you EVER been late paying a bill? Having A credit card alone will not allow you to higher your score fast. you need to buy a used car, something you can afford, with or without a co signer, just as long as your name is on the title. this way everytime you pay on your car, you are building your CAR CREDIT up.

It is so weird how credit works. ITS HARD TO GET CREDIT, YET SOOO EASY TO LOSE IT.

i have been working on my credit since age 18, and ive had 2 brand new cars in my name since(both with a co signer) im was told my the car dealership at mercedes in houston, the next car i get i will be able to buy without a co signer.

The key is to get a small loan from a bank or anywhere, something you know you can pay ALL OFF in a few months or less. GET A 500 loan, and then at the end of the month pay it off with the 500 dollars you got. this is trick things that can help you with your credit score.

Everything you buy needs to be in YOUR NAME. get a cell phone, that is one thing that will help.

JUST REMEMBER TO NEVER BE LATE WITH YOUR PAYMENTS.

Answer 2

following critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.

1. Re-payment history

This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.

2. Outstanding debt

The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is
30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.

3. Length of your established credit history

The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score.

4. The state of your financial accounts
How much money do you have in your bank account, your income levels, your house, car, your assets etc. comes the next. A healthy bank account reflects a healthy credit score. Experts find that credit reporting agencies give this factor 10% weight while determining your credit score. Read more from: http://www.credit-card-gallery.com/article/204,5_critical_factors_affecting_your_credit_score

Answer 3

In my experience most changes happen immediately as they are reported.. which is usually within 2 weeks..

When you're trying to build your credit score it's important to get a comprehensive view of what is actually effecting it...

Your Credit Score is calculated with the following breakdown:
35% - Payment History
30% - Credit to Debt Ratio
15% - Credit History
10% - New Credit
10% - Credit Types in Use

If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score.

I've got a lot of information on my blog about credit scores, and I get a lot of questions so feel free to check out any of my posts on millionster.com; I believe my articles here address many of your concerns but if they don't and you still have any specific questions feel free to leave a comment and I'll reply.

How Can I Increase My Credit Score
http://millionster.com/articles/debt/ask-1mil-how-can-i-increase-my-credit-score/

and

10-Ways to Boost Your MyFico Score
http://millionster.com/articles/debt/increase-fico-credit-score/

Also be sure to check out the promotional links I've listed here to help you get a better picture of your creditworthiness:

MyFico's Full Credit Report
http://millionster.com/go/myfico

Suze Orman's Credit Report Repair Kit
http://millionster.com/go/suzekit

30-day Trial of Credit Score Tracker with Free MyFico Score
http://millionster.com/go/fico30

Answer 4

It is reported every month so there will be some improvement every 30 days, but the improvement is slow, it takes next to nothing to destroy it but takes time to improve. Give it 6 months to a year

Answer 5

6 months to 2 years depending on how low your current score is. `

Answer 6

6 months

Answer 7

the credit reporting agencies update and record every information, every 30 days, thus your credit score would be changing about every other month, depending how good you are with it

Answer 8

It can take up to 6 months to a year..