How long after paying down cards will score go up?

[LS2982]

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@haulingthescoreup wrote:

As long as you have the money available to do it, paying off your revolving debt is the area over which consumers have the most control, and it's the fastest way to improve your scores. You just have to pay, wait for each account to update, and wait for the new balance to be posted on your reports.

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It can be hard to do that on a fixed income or budget for some people tho. I can't wait until the end of the month i'm paying off all C debt, hope to see a 700 EX score and 680 EQ/TU

[haulingthescoreup]

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@LS2982 wrote:

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@haulingthescoreup wrote:

As long as you have the money available to do it, paying off your revolving debt is the area over which consumers have the most control, and it's the fastest way to improve your scores. You just have to pay, wait for each account to update, and wait for the new balance to be posted on your reports.

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It can be hard to do that on a fixed income or budget for some people tho. I can't wait until the end of the month i'm paying off all C debt, hope to see a 700 EX score and 680 EQ/TU

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I completely agree, which is why I threw in that bit about "as long as you have the money available to do it."

It's also an excellent reason why those on fixed incomes and tight budgets need to be so very careful about how they handle their revolving credit. Unless you have a source of extra cash, it can take forever to pay off balances, especially if interest charges are eating a chunk of your payments.

Congrats on your upcoming freedom from debt! It's a fantastic feeling.

[LS2982]

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@haulingthescoreup wrote:

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@LS2982 wrote:

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@haulingthescoreup wrote:

As long as you have the money available to do it, paying off your revolving debt is the area over which consumers have the most control, and it's the fastest way to improve your scores. You just have to pay, wait for each account to update, and wait for the new balance to be posted on your reports.

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It can be hard to do that on a fixed income or budget for some people tho. I can't wait until the end of the month i'm paying off all C debt, hope to see a 700 EX score and 680 EQ/TU

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I completely agree, which is why I threw in that bit about "as long as you have the money available to do it."

It's also an excellent reason why those on fixed incomes and tight budgets need to be so very careful about how they handle their revolving credit. Unless you have a source of extra cash, it can take forever to pay off balances, especially if interest charges are eating a chunk of your payments.

Congrats on your upcoming freedom from debt! It's a fantastic feeling.

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I cant wait!! I'm excited to see the increases after every update!!

[Anonymous]

I have a question.

I just checked my credit score and it is 586. I have to closed/delinquent credit card accounts on that. One is capitol one that went to collections and the other is care credit that went to collections. 

I would like to pay them both off as well as my current auto loan (which ive made all payments on) when I get my tax refund within the next month.

What are some good reccomendations? I have read mixed reviews online , not to pay it off as it negatively affects your credit score? I need suggestions!

 I also read not to settle for a lower amount bc that looks bad on your credit report too..which stinks bc thats what I was planning on doing would ask them to lower it.

[NikJ4]

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@LS2982 wrote:

I cant wait!! I'm excited to see the increases after every update!!

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Congrats LS! That is awesome. Yes, I am in the process of paying stuff off also to help recover my score again.

[keithB]

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@frogfan12 wrote:

I say about two months for the CCCs to report the lowered balance to the credit bureau and it to be accurately reflected on all credit reports.

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+1

[09Lexie]

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