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Raising Credit Scores

Established Member

Raising Credit Scores

I am trying to get my score from the 500's to the low 700's.  I just paid off everything on my credit report that wasn't medical, and also a judgement, and settled on one other.  In total, I took care of at least 12 things.  I paid down every credit card, and a personal loan, all within the past 2 weeks.  How long will it take for the score to rise, and also, in the next 2 weeks I will be paying everything else off but 1 collection.  I will only have the one collection from medical and I am going to try to settle it.  Will this get my score to rise faster, or will it take months for it to go up.  I have been getting letters from pay offs, and sending them certified to the 3 credit beurous.
Message 1 of 4
3 REPLIES
Regular Contributor

Re: Raising Credit Scores

You should see a nice jump paying off all that. The ones you paid off over the last 2 weeks may not show up if you missed the CCard and Company Report date. So you may not see that change until AUG 15th or so. Then anything you pay off in the next few weeks MIGHT be included in the AUG totals but you should see your true amounts by SEPT.

My Reports are sometimes updated at the Beginning or Mid of the month so you may see some payments post and see a small jump.

Good going tho !!!
Message 2 of 4
Established Member

Re: Raising Credit Scores

I am trying to buy a house by sept 1st, that's why I am trying to eliminate as much as possible.  I have already gotten a higher credit limit on 1 credit card by doing this, I jumped at least 50 pts before I started doing any of this.  Thanks for the input
Message 3 of 4
Regular Contributor

Re: Raising Credit Scores

Keep it up but keep in mind that lenders will also verify mortgage payments or rent payments. You also want to keep 3 - 6 months of reserves in a checking  or savings account. Good Luck!
Message 4 of 4