How long will it take to raise your credit score?
Trish, If you have outstanding loans or bills, make sure they get paid off. Once they are, your credit score will come up pretty rapidly as long as you are still making some sort of a payment, ie. a credit card. First off, make sure if you have any small charge offs or outstanding loans, get them done and paid! A bank will look at those and say to themselves, "If this person can't pay a $100 loan, why would I loan her $15000?" To answer your question, if you get all your bills paid off and maintain a small amount on your credit card, you will be car ready within 18mos to 2 years. If you don't, your credit will creep up instead. If you have a lack of credit, buy a car under $10000 and suck it up for 18 months, build your credit and then get rid of it and get the car you want. If you have any other questions, email me at rbulmer@gengras.com
How long will it take me to make a credit score of 750+?
Forever. Scores that high come from repeated large purchases and a multitude of accounts. Utilities. bank and commercial credit over a ten year period. you have to have much more than one credit card to reach 750 Sorry. The fact that you got your credit card and charged it to the max killed you possibility for a 750 score. Your average daily ballance in checking and saving will need to be very high. and you 5 year employment history. Same address same Job. Are you sure you want a 750? KaitsMommy2006 has good advice. Bill S is Bull S
How long will it take to get 720+ credit?
Maybe it's just me, because I hear your story, and I see other people on here claim that it takes time to get it over 700, but from my experience, credit/fico scores are like the first day in school. You know, when the teacher says you start with an "A" and it's up to you to keep it? I started with a Capital One card and a $500 limit. Within 3 months -- I swear to god -- I had a fico score of 760. I used the card, kept a small balance, paid it off, used it, paid it off, used it , kept a balance, then paid it off.On the 4th month, I was getting BOMBARDED with pre-approved credit card offers from everyone except American Express (I guess I didn't meet their criteria yet). So, my only suggestion would be to request to have that credit card changed to an unsecured one, and see if that does the trick, because 7 months is a long time. Also, even if you have a good fico score right now, your credit is still considered weak because you don't have enough history and available lines. You will need to let a few years pass, get several credit cards, and some kind of installment (loan) history before you can really go out there and apply for an auto loan or a mortgage.
I just got my first credit card. How long will it take to get a score of 700, if I handle everything perfectly? (I know how to live without debt.)
Maximum within the next two years. But make sure that you 'always' use it when you buy anything, i.e., petrol, dining out, supermarkets and so on. If you are on time with your payments, they are opt to increase your credit limit. However, if you cannot pay off the whole outstanding amount, make sure that you pay the minimum amount required by due date and thus you will be able to build a good credit rating. Also make sure that you are working and your job is stable, too.
How long will it take me to build a credit score of 700 from no credit?
This could be done in about 18 months I’d say. Simply open a secured credit card, and pay it on time every month. Pay off the balance in full. After 8 to 12 months, you might be able to upgrade to an unsecured credit card. Pay that card off in full, and always on time as well. See here for more information on secured credit card options.If you really want to guarantee that you’ll enjoy a 700, and to accelerate the process, consider a credit builder loan as well. Self Lender - Credit Builder Loans - Build credit with a credit builder account is a good place to look, as is your local credit union.
How long does it take to get a 720 credit score?
There is no definite answer to this question. It may take 6-12 months for some, while some people can take more than that. The same depends on the steps they adapt to build their CIBIL score and how effectively they follow it.It also depends on the credit history of the person. If they made a bad financial decision in the past, chances are it is still reflecting in their credit history. Hence, in order to improve the CIBIL score[1] and push it to 720, one needs to wait for several years before the ‘bad financial decision’ stops reflecting in the credit history.The other things that can be done to improve CIBIL score are:Pay your credit bills on time, Don’t delay the paymentsDon’t use the credit card beyond the limitDon’t be credit hungryBorrow a mix of a secured and unsecured loan.Keep your debt-burden ratio low.Footnotes[1] Five Ways In Which A Personal Loan Can Boost Your CIBIL Score
My credit score is 480 how long till I get to 620 or something reasonable?
It could be as little as 30 days if you know how to work the system. Basically, take a close look at your credit report. Anything that says you were more then 30 days late, dispute it with each of the TRW companies. Say that those items "were never late." Any collectors on your TRWs, say that those accounts "are not your accounts." If they no longer have your account, they cannot contest this and you can have them removed thereby bringing your credit score up. After you have disputed these items, the TRW companies will begin an "investigation" where they will contact the creditors and ask them to verify if your dispute is accurate or not. If they do not respond, the item is removed forever and your score will go up. Other ways to get your score up...is 1) never close credit accounts if you can help it, 2) pay within 30 days (even if it's late, as long as it is not 30 days late, it will not be reported), 3) keep your balances to 35% or less of what you owe (example would be...owe no more then $3,500 for every $10K of credit you have), and 4) get different types of credit. Cell phones and utilities to do not affect your credit because they are not credit items...they are pay as you go items. Only the auto loan will affect your score. I recommend going to Citibank.com and applying for a credit card. They are the largest bank in the US right now and fairly easy to get a card with. Plus, they have great rewards. Check out the website below to see how your score is determined. Good luck and... Hope this helps.
How long with it take to increase my credit score?
I have a credit score of 489. I'm a 19 year old college student. I believe it is so low because I applied for about 10-15 credit cards and just kept getting denied because of limited credit history. I finally got approved by Capital One Journey for $500 in April of 2011 and have paid in full each month and after 6 months they bumped my limit to $750. Since then, I have gotten another credit card with Capital One ($750 limit) and have only paid interest on it for one month. I also had gotten approved for a Citi Dividend Card with a $1,200 limit but only applied because of the 0% 7 month Intro APR to pay for school books. I currently have $2,700 in credit between the 3 cards and owe around $350 that I plan to pay off in the next few months. I work part time and bring in around $900 a month. I was really surprised to find out my score was this low. How long will it take me to get a good score and am I in bad shape financially?