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.

4 Responses to “How quick will paying down my credit cards affect my credit score?”

financespecialist30 Says:

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.
References :

Cris C Says:

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.
References :

Credic J Says:

Your credit score was probably hit pretty badly when you missed payments. You should spend some time rebuilding credit before applying… although it doesn't hurt to try
References :

Jennifer Says:

Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. I came across this company on NBC News Special Edition.Check it out here:
http://lnkurl.com/25
References :

Leave a Reply