@Revelate wrote:
@Anonymous wrote:
Hello - since you are answering questions on how long it takes to build credit, I am wondering if someone can provide a time frame of how long it takes to rebuild credit. In a nutshell, I recently graduated from a Master's program, and now I am seriously in debt. While I was in grad school, I lived off my credit cards and opened new cards once the old accounts were at the limit. Now I have a job and want to get back on track. As recommended, I got my 3 in one credit report, thoroughly checked out my credit history, and paying off as much as I can. What is a reasonable amount of time to fix my debt situation and raise my credit score? I am looking to buy my first home in the near future. Thanks!
Welcome to the forums!
It all depends if you have any negatives (chargeoffs, collections) from those debts, or whether it's all just sitting out there and you've made the payments all on time.
If it's the first, it's going to be variable and I highly recommend checking out the Rebuilding forum for strategies on approaching them; if it's the second, then it's just a matter of paying down your credit card debt and you'll likely be everywhere you need to be mortgage wise.
+1 Revelate
What was shown on CR's any Negatives such as lates or just maxed out cards?
Sounds like since you were able to keep opening new cards your problem is just UTL holding your scores down and the more balances come down the higher scores will go.
Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
