How long will it take for my credit score to raise as I pay off each credit card?
Wednesday, April 21st, 2010 at
9:10 pm
I’m working on raising my credit score…I have a few credit cards and have paid off one completely. Does your credit score raise immediately or does it take time? How long?
About a third of your score is based on the ratio of credit card debt to limit. Carrying balances of 30% hurts your score; 50% takes a big bite; 90% kills your score. As you pay off your overall credit card balances below those percentages, your score will improve.
Filed under: Raise My Credit Score
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About a third of your score is based on the ratio of credit card debt to limit. Carrying balances of 30% hurts your score; 50% takes a big bite; 90% kills your score. As you pay off your overall credit card balances below those percentages, your score will improve.
References :
IT WILL TAKE YOU A LONG LONG TIME TO RAISE YOUR CREDIT SCORE……..MY UNCLE HAD A CREDIT SCORE OF 750+ FOR MANY YEARS AND ONE DAY HE FORGOT TO MAKE A STUPID CREDIT CARD PAYMENT SO HIS SCORE WENT FROM EXCELLENT ALL THE WAY TO GOOD…. IT TOOK HIM ALMOST A YEAR TO RAISE HIS CREDIT SCORE BACK TO THE EXCELLENT SCORE!!!!
References :
Hi,
Some credit card companies, such as Washington Mutual and American Express, give consumers their free credit score when they sign up to apply for a credit card. Once your application is approved and you are issued your new credit card, your free credit score is updated monthly on your account and you get to access it without any additional charge.
thank you!
References :
http://www.howtoestablishgoodcredit.com/