Will this alone increase my score?

Question

By paying my bills on time and keeping my credit limits below 25% should my credit score increase by at least 50 points in the next 6 months. I have nothing past due, no open collections, and my last late payment was 12 months agao. I'm currently at 606 and would like at least 650 when I try for a mortgage in April. Any clues on how to increase my score would be much appreciated!
Thanks!

Answer 1

You don't give enough info to give an accurate answer. If you only have one late payment on your history, and still only have a 606, there is something else holding you back. Most likely you don't have enough credit lines or else you haven't have credit for a very long time.

Credit history is a major factor in calculating your credit score.

But what you are doing now will be helpful. I'm not convinced this alone will improve it by 50 points in 6 months.

Answer 2

It will help. Maybe not 50 points worth, but it will help. Unfortunately, the late payments are probably what are driving you down. Dinks on your credit report generally stay active for 7 years. even if your latest one was over 12 months ago, banks view that as a sign of a more risky loan.

Answer 3

You should be fine doing just what you described.

By then your late payment will be almost 1.5 years old and this will not effect the decision to loan you money for a home.