Tweet
We will need to move or but a house by mid July. So we are working hard on paying down our redit. So I was curious how long it takes for this show up and better your credit score?
-
-
Re: Question About Credit
The effects are almost instantaneous, if you pay down the CC's drastically and the credit bureaus have not taken this into account, give the CC companys a call and make sure they've accurately reported your account activity. A credit score won't heal overnight though, it usually creeps up in steps and will take a few months before the wound clears up, the longer you go with a low debt to credit limit ratio the better your score will get. Also, it's good to keep your longest standing and highest credit limit cards even if you don't use them. Best thing you can do is to get a complete credit report and go over it with a fine toothed comb, look where simple things are hurting your score (like too many CC accounts). -
Re: Question About Credit
When the car dealership ran my credit, a credit card payment from 2 days earlier was already on the credit report.Comment
-
Re: Question About Credit
Wow, that was fast. When I got mine, it still showed a balance on a vehicle that I had recently paid off.Comment
-
Re: Question About Credit
Thanks for all the fast responses. Well hopefully we can make some great payoffs in the next 2 months. Then it will be 3 months before I need that to really count in our favor.Comment
Comment