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New Member
Posts: 4
Registered: ‎11-19-2010
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How Long Till I Get To 650?

Here is the deal I'm 23 and recently graduated

 

I don't have any major negatives just some late payments on credit cards

 

Right now my score is 450 ish but thats because of 60-90 day late payments

 

I have 4 cards and paid off 3 off them and 4th one will be done

 

only things remaining will be basically an 8k auto loan which is current and 40k in student loans that will be current by the end of the month

 

if i pay everything on time and dont use any revolving credit for a while or sparingly how fast can I get to 650 ish

 

I don' t have any big negatives like repos or charge offs bankruptcy or settlements etc...just late payments

 

few months? a year? few years?

 

I'd like to get to 700 plus but short term is 650 possible? I'm thinking February 2011 is my goal

Moderator
Posts: 17,292
Registered: ‎07-14-2009
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Re: How Long Till I Get To 650?

Hello and welcome to the forums.

 

We will need a little more information. You say you only have late payments but what kind and how many of each (30,60,90 day lates) and how recent are each of them. That can dictate how much they are hurting you and for how long.

 

Unfortunately a 90 day late is considerd a major derogatory so could be your biggest concern.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

New Member
Posts: 4
Registered: ‎11-19-2010
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Re: How Long Till I Get To 650?

I had two of my cards 90 days delinquent the other two I paid off already and the last one remaining i will pay off in a week (all aruond 1k each)

 

 

Moderator
Posts: 17,292
Registered: ‎07-14-2009
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Re: How Long Till I Get To 650?


anil099 wrote:

I had two of my cards 90 days delinquent the other two I paid off already and the last one remaining i will pay off in a week (all aruond 1k each)

 

 


How long ago did all the lates happen exactly? The more recent the date the more it hurts your score.

 

It's good that you paid these off but that won't remove the damage done. The lates will still report for 7 years from each individual date of delinquency unless you can get the creditors to remove them early.

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Senior Contributor
Posts: 4,194
Registered: ‎03-24-2008
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Re: How Long Till I Get To 650?

Welcome you've come to the right place to learn about CS's(credit  score)s and CR's(credit report)s.:smileywink:

 

When did your 90days late happen?

 

Do you have current CR's and FICO scores?

 

Where and when did you get your score?

FICO's May 2015 EQ764 ~~Live below your means and always keep an emergency fund -Love Everybody ~ Big Kenny ~ Big and Rich ~~~~~Credit Scoring 101 - Common Abbreviations - Freq Req Threads - Free Credit Reports - What Steps Do I Take?DV? PFD?
Established Member
Posts: 55
Registered: ‎10-26-2008
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Re: How Long Till I Get To 650?

Hello,

From my experience there is no quick fix to getting your credit score to jump that quickly that fast.  If you have bad credit now, one of the best things you can do is build healthy habits. Pay your bills on time every month and make sure your credit util is about 30% of your balance. Your score will eventually start to increase as you build on time payments and actually use and manage your credit cards. Hope this helps. It takes patience!

Epic Contributor
Posts: 20,883
Registered: ‎03-19-2007
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Re: How Long Till I Get To 650?

[ Edited ]

The absolute, first thing I suggest is what was suggested earlier.

Take each account reportring to your CR, and provide the date and severity of each and every delinquency reported. It is not enough to just say "I had some derogs."

You cant plan credit/FICO repair without this.

List each OC account.  List the date and severity of each delinquency under that account.  A 90-day late implies both a prior 30 and 60-day late, and all affect your score. A 90-day late is a major derog.  Multiple derogs, at whatever level, are your biggest albatross now.

List whether each OC account is currently in paid, good standing, delinquent, or closed.

That simple listing spells out your credit repair focus

You can then add 7 years to the date of each individual monthly delinquency on each OC account.  That tells you when it will fall from your CR due to its own old age, without you having to do anything.  For those old monthly deliquencies that are not soon to drop of their own old age, then you can use GW letters to try to get their earlier deleition.  Come back here for advice on how to request their deletion.

Score improvement will come from addressing each prior delinquency.  FICO scores each derog, not each account.

Moderator
Posts: 17,292
Registered: ‎07-14-2009
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Re: How Long Till I Get To 650?


AdPray123 wrote:

Hello,

From my experience there is no quick fix to getting your credit score to jump that quickly that fast.  If you have bad credit now, one of the best things you can do is build healthy habits. Pay your bills on time every month and make sure your credit util is about 30% of your balance. Your score will eventually start to increase as you build on time payments and actually use and manage your credit cards. Hope this helps. It takes patience!


IMO 30% is still much too high.There is no one tactic that will work the same for everyone but if you go back through and read many of the older posts I think you'll see that what helps most people is to have both overall and individual utilization at 9% or less.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

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