How long will it take me to bring my credit score up?
Answers:
Ice and Spifi are correct, and I agree that are you sure that it was just your student loan that tanked your score? Make sure that all your credit cards are at 30% of the limit collectively. It would help also once you get that issue with your student loans resolved to ask for a small line increase to boost your debt to income ratio. About a year or so after it's all said and done, try it again to see what happens
If thats your only blemish on your credit report it wont take too long. Until it drops off complety you may not be able to bring your score to what it once was. But a 6 months to year or so of paying your bills timley will bring it well back up again.
My Fiance had a very similar situation. She brought her score from 570 to 635 in about 1 year.
You'll need to clear the student loan situation, and not be late on any payments, for at least one year. If you keep your debt to income ratio low, your credit should improve in eighteen months, to two years. It's important to not be late on any bills, not just the car loan.
I agree with Iceman, if that's the only derogatory thing you have on your credit? It should clear up quickly. The bad news is that in the world of credit quickly is anywhere from 12-18 months.
could take up to 6 months to a years..
make sure there are not late payments
The answers post by the user, for information only, BAnswer.com does not guarantee the right.
More Related Questions and Answers...