Wednesday, December 31st, 2008
How quick will paying down my credit cards affect my credit score?
I have 2 credit cards that are both past due pretty bad. Im in the process of selling my car and i plan on putting the money from the car into the credit card debt. My goal is to get a loan for a motorcycle.
After paying down my credit cards, how quickly will my credit score be affected? Should i wait a few months?
Try this one – http://creditreport.undonet.com
I use it to monitor my credit score during last 3 years. They can preestimate any changes of you scores for different scenarios of payments.
January 1st, 2009 at 2:17 am
Well if you are pass do badly then your credit is most likely in the 500s. It will take at least a year of on time payments to get you back into the 600s, then even longer to get into the high 600s. I would wait a year before looking, a few month will not do anything significant to raise your score.
Good luck.
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