credit score-help?

Question

I have 5 things on my credit report

2 current mortgages.
1 old mortgage paid off
1 credit card high balance
1 credit card paid in full.

I've was 30 days late on one of my mortgage once. of course that dropped my score. My credit score is low.

When can I expect to see a change in my credit score. To my surprise I applied for a loan an was denied.

Answer 1

That late mortgage payment is going to hurt you for some time. You will need at least a 2 year on time payment history to start rebounding your score from that.

The second thing which negatively impacts your score is probably your debt to available credit limit ratio. Anything over 50% will kill you score. You should get it below 30%

Pay down that credit card. Put yourself on a strict budget and throw every penny you can squeeze onto that credit card debt. It's never a good idea to carry a high balance on a credit card.

Answer 2

What is the score? How long ago was the 30 days late on the mortgage anmd what is your debt to income ratio?