after cleaning up your credit report, when does the score go up?

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4 Comments
  1. Reply
    Suecydoll
    July 21, 2011 at 12:32 am

    Well, that can be tricky. Negative credit can linger for up to 7 years…but, there are measures you can take to gain positive credit. If you are responsible enough to do so (and be honest), getting a low credit line (usually this also means low interest rates) credit card and using it wisely can help your score immensely. What I suggest is use it maybe once a billing cycle on a low cost item, or an item that you already have the money to pay for. As soon as possible, pay off that item in-full (if before the due date, even better). But, do not charge on the card if you don’t have the money to pay for it already (just in case life happens, and prevents you from paying a bill on time).
    If you have trouble having money burn a hole in your pocket (even imaginary money), than a debit card with your bank with credit options (i.e. you can choose which one you purchase under) is a great way to be responsible in your spending. Most banks only allow a limited number of credit-based expenditures (all without the many dishonest hidden fees credit cards can tack on), and much of it accrues no interest if you have the amount being spent already in your account. Much of the time these are really just debit cards that give you positive credit spending history.
    If you do either of these you can have your score go up within a matter of months, but negative credit history prevents your score from going above a specific number. But, with years of good credit spending history, once the 7 year mark (sometimes 3 or 5) expires the negative scores, your score will go up very very quickly.

  2. Reply
    dustoff
    July 21, 2011 at 12:44 am

    When you start to build a record of new “positive” credit use.

  3. Reply
    Kevin F
    July 21, 2011 at 12:46 am

    It depends how you define “cleaning up your credit.” If you mean you paid off some old bills, your score may actually go down. Your credit is actually a snapshot of the last 2 years basically. Paying off old stuff leaves you with “current paid collections.” This likely will push your score down. All is not lost; I would use simple credit repair to bump these negatives from your bureau. It would have been best to do that to begin with but you can still salvage the situation.

  4. Reply
    bdancer222
    July 21, 2011 at 1:18 am

    Paying off old debt does not improve your score. The damage is already done and derogatory items stay on your credit report for the balance of they 7 year reporting period whether paid or not.

    However, creditors look at your whole credit report, not just the score. Paid old debt looks better than unpaid.

    To improve you score you will need at least 24 months of consistent, on-time payment history. It takes time to overcome bad credit.

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