How long will it take to raise my credit score?

My current credit score is 574. I have been paying my bills on time and haven't applied for more credit recently. I want to know if this process will take years or months.

I payed off 2 credit cards recently with a loan i obtained. I also payed off another installment loan.

Any idea of the point value on these types of transactions.

13 Answers

  • 1 decade ago
    Favorite Answer

    First thing I see wrong is that you BORROWED money to pay off credit cards. DON'T DO THAT. Don't rob Peter to pay Paul. Thats a habit that will bury you if you continue to do so in the future. You just possibly lowered your score some more. You accomplished nothing by doing that. Now, go ahead and continue paying on that loan for the credit card payoff. It will still help build your credit score in the long run.

    Credit card use is good and fine as long as you don't go in debt more than 1/3 of your available credit limit on a single card and I HIGHLY advise a person to make 2-3 times the monthly payment as often as possible. These 2 actions alone will raise your credit score. You will know without asking as a card company will gradually increase your credit limit. (Thats a positive sign your score is increasing) but don't go on a spending frenzy with the card(s). Remain cool. I still don't go over $2000-$2500 in debt on a credit card (with a $12,000 credit limit) for the interest and monthly fees eat you alive nowadays even on that amount.

    STEADINESS and CONSISTENCY are the keys to raising your score. For example, long term employment with the SAME employer, living at the SAME physical address a long time, paying ALL bills on time every time, already DEMONSTRATED ability to pay back loans on time every time, with EXTRA payments as often as possible on any loan whether it is by contract (auto, home, etc.) and of course the liquid loans of credit card(s). 1-2 credit cards is enough for anyone. More cards than this with open accounts (even with a zero balance) pulls down your score as these are viewed as available credit and accessable at any given moment. Use the cards you already have ( the 1 or 2 of them) and that has great credit score building power. Jumping around to lower introductory rates and changing cards pulls your score down. Bouncing around is viewed as a form of inconsistency and unstable. Remember 3 words, CONSISTENT and STEADY and DEMONSTRATED. Thats what builds credit scores. Future employers also look at credit scores, it shows character of a particular individual. So credit use and score building and maintenance is an absolute positive thing all people should focus on. The higher the score, the better the risk you are, the LOWER your rates will be on a future loan. There are MANY benefits to increasing that score for anyone. Managing your finances now and paying a little higher interest rate till your scores increase will result in the lower interest rates and higher scores in the future. Months turn into years and scores change with this evidence. Your personal actions determine the course this all takes. Keep a FIRM grip. You will be the winner in the end.

    Source(s): My own personal experience, a score of well over 800+.
  • Anonymous
    5 years ago

    The best way is to pay all your bills on time... Any late payments or even missed payments get reported by most lenders and that hurts your score. Pay everything on time and your score will rise! It is possible to get your credit score fixed so to speak. There are many companies that will charge $50-$100 to pull your credit reports and get anything that shouldn't be there removed for you which will immediately raise your score... Try the link below, very informative...

  • 1 decade ago

    The number one thing that lowers credit is late payments. Only time helps these. The second biggest factor is debt load vs available credit. If you have 30k in debt and 35k in available credit, they see you as overextended, mean while someone with 100k in debt with 1 million in available credit will have a good score. If you get your report from equifax, they have the score power thing where you can simulate your credit score if you say pay off your bills, or pay minimum for 6 months etc.

    The best way to increase your credit is pay on time, and pay off bills as much as possible. In time the late payments will diminish, but it takes time.

  • 1 decade ago

    They go by how many opened accounts you have and the balances. If you have opened accounts with 0 balances that is good. Too many new accounts brings the score down. Too many inquiries brings it down whether it is by a creditor or by you. Your credit score can change daily but it will at least take until the next month to show the two accounts have been paid.

    My guess is that by next week your score will go up some.

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  • 6 years ago

    You need to check out this video on how to increase your credit score by using a 100% legal loophole. Here is the video URL:

    I was able to get to 595 from 489 in just one day and from 489 to 748 in just a few week; that's pretty fast in my book. Good luck!

  • Anonymous
    1 decade ago

    If you have lots of time and persistence, you can take a stab at it yourself. Be prepared to put in some serious time, however.

    Check out the credit repair link at

    The non-profit company they link you up with gets most of their results in the first 90 days.

  • 1 decade ago

    at least a few months.....get it up to 580 and you can do 100% financing on a home

    get it up to 620 and you can get a better interest rate

  • 1 decade ago

    You can raise your credit score within 24hrs. legally and ethically if you know what your doing.

  • 5 years ago

    Was going to ask this too

  • 6 years ago

    How long will it take to raise my credit score?













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