How long does it take for your credit score to go back up after a few late payments?
457465
I am in the same boat and have the same questions.  Be patient.  I started this last fall (around Oct 2005) and found that my credit score increased about 10 points within the first couple of months and now it sits there, unchanging, even though I pay off in full on my one credit card on time every month.  There is no definitive answer.  But it can happen.  And it will happen.  Keep doing the right thing.\n\nBy the way, if you can get a PayPal Visa credit card, and you probably can, once you get it, you can check your "credit profile" for free as often as you want.  It will list a summary of your credit standing.  Again, I like this because there is no charge.
12665
If someone asks you for money to increase your score, it is true that they are likely to be a thief, however, it is NOT TRUE that you cannot raise your score. Your credit score is primarily affected by a few things. First, any time that you make a late payment, even one that is only 30 days late, that will effect your score as much as 50 points the first month. It will climb slowly each month thereafter if you pay on time. So, don't ever pay late. Secondly, a large part of your score is determined by the ratio of credit used to credit available. If you have a $1,000 limit on your card, DO NOT leave a balance on that card of over $500. The lower your credit debt to credit limits, the better your score will be. Lastly, the longer you have credit, the better. Some people will cancel cards and accounts that are infrequently used. Don't do that! Leave them open. On the other hand, having too many credit accounts means you are a credit hog. Every time you apply for credit, your score will go down, for a few months.
1177350
In regards to Revolving Credit (Credit cards, etc.):\nPay down the balances to within 20-30% of your total credit limit. This should help to boost your scores. If you do not have the money to pay this down, call your credit card companies up and ask for a limit increase.. this will automatically allow your debt to limit percentage to lower.\n\nIn regards to Installment Loans: If you have ANY loans with high risk lenders (i.e. American General Finance, Well Fargo Finance or any other company with "Finance" in their name) pay them off quickly, or borrow from your local bank / credit union to pay them off if possible. Due to the risky nature of these lenders, the fact that you have this type of loan will hurt your scores. Paying them off will boost your scores.\n\nIn regards to credit mix:\nMake sure you have a balanced mix of types of credit... in other words, you should have 1-2 credit cards, 1-2 loans and possibly a mortgage. This shows good balance in credit and a healthy score should be given.\n\nOne last tip: Although they claim it does nothing to improve your score, mortgage lenders across the US have found that by requesting to Opt Out of the credit bureaus mailing lists (that they sell!) you may see a boost in scores in about 10 days... usually small, but it might push you over the goal you need. See the resources for the link.\n\nGood luck!
1047980
it's an urban myth that things are removed from your report after 7 years. Not true. What does happen is that after time, things no longer affect your score. But it will be on there until the day you die and then some. I pulled a persons credit and it turned up they were deceased. But I could tell he had late payments on his credit cards from 10 years ago. Your account will show a zero balance on your report. any late payments will showup on there as well as when they occured. If you paid off your stuff, make sure you receive letters from your creditors stating you owe no balance and everything is paid. keep them. obtain your credit report and make sure it reflects that you have paid your balances off. if not, contact the reporting bureau and send copy of aforementioned letter and tell them to update. call your creditor and have them update it on their end to the bureaus as well.
1008568
i think any late payments dont show up on car credit.. im really not sure but good luck with getting a new car :)
1095206
Because you don't own the company. Companies seek to preserve profits. What they do with your money is that they invest it and hope to get a return on it. That's why it takes awhile to get your money back.\n\nIf you were expecting a payment on time from someone, and they pay it late, won't you get pissed off? So the company shows their anger by punishing you with late fees. At the same time, your credit score may go down.
913330
Your credit can change minute by minute.  It all depends on when companies that you have accounts with report to the bureaus.  When the companies report, it changes not only your payment status, but outstanding balance in comparison to high credit limit, # of months reported, and how long the account has been opened,etc and all these will affect your credit score.\n\nAlso not all companies report monthly when you are in good standing, they may report less often, so that good history my not show as soon as payments are made.
939079
Yes! A mortgage history (that is on time every month) will quickly boost your credit score! (on the downside, any payments over 30 days late will just as quickly kill it...)
815986
Give it 30 days before you call the creditor. And as far as your credit report goes it can take the bureau up to 90 days to update. After that time period you can call them to correct it.
129335
It's sort of a catch-22.  Most things remain on your credit report for 7 years (such as a late payment).  If it goes to collections (let's say after 3 years) then the 7-years starts over again with that item on your credit report.  However, let's say you realize it after another 2 years, want to stop it from being a negative on your credit report, so you repay it - the collections agency will mark it on your credit report as paid, and it resets for another 7 years!  So, while it helps you to repay it, it hurts you at the same time (if you don't repay it, it will always negatively affect your credit score, even if it doesn't appear on there, and the credit agency can always exercise a lien on any money you make down the road).
150875
It sounds as if your FICO score has been decimated by your ex. A FICO score is a snapshot of your credit risk picture at a particular point in time. The higher your score, the lower the risk to lenders. A FICO score can range from 300 to 850. The very best rates go to people with scores above 770, but a score of 700 is considered good (the average score is somewhere around 725), says Craig Watts, Fair Isaac's spokesperson. If your score is in the low 600s or below, it's time for concern. As you fall below about 600, you will see an increase in your lending rates. \n\nThe first step to increasing your score is to know where you currently stand. By law everyone is entitled to a free copy once a year. Also, you are entitled to a copy of your credit file free if you have been denied credit from the bureau that reported the information. If you've been denied credit, you must apply for your file this within 60 days of the denial. Log on to http://www.annualcreditreport.com or call 1-877-322-8228.\n\nOne way to instantly up your FICO score is to be put on an account with another individual who has a good credit score. You only need to be an authorized user, NOT actually ever use or even have possesion of the credit card.Your name only has to be associated with the account. By "piggybacking" on an account with someone who has good credit, you instantly up your own. Conversely, being on an account with someone who has bad credit drags your score down (as you have found out!). \n\nGenerally, people with high FICO scores consistently:\n* Pay bills on time.\n* Keep balances low on credit cards and other revolving credit products.\n* Apply for and open new credit accounts only as needed.\n\nFICO scores consider five main kinds of credit information. Listed from most important to least important, these are:\n* Payment history.\n* Amount owed.\n* Length of credit history.\n* New credit.\n* Types of credit in use.\n\nTalk with your lenders about the circumstances around you/ your ex's late payments. You can request that certain data be taken off or amended on your report. They may or may not do it but it is worth a try if it improves your score.\n\nBTW, one thing a person should NEVER do as it ADVERSELY affects their FICO score is close accounts once they are paid off! That actually lowers your credit score. FICO scores take into account your debt to credit ratio: \n\nIf you have 3 credit cards with $1,000 limits on each and they were all maxed out your debt to credit ration would be 100% of your available line. If you paid of two of the cards in full your debt to credit ration would be 33% (you only owe $1,000 on $3,000 of available credit). If you closed the two accounts you paid off and had one card left maxed out at $1,000 you would instantly go back up to a 100% debt to credit ration. So, bottom line when you pay a card off- Never close the account, just cut the card up.\n\nHere is an article from SmartMoney.com on "Credit Fixes That Can Fix You"- http://www.smartmoney.com/debt/advice/index.cfm?story=creditfixes\n\nand "Keeping Score" about improving your FICO score- \nhttp://www.smartmoney.com/nowwhat/index.cfm?story=20020826
1157807
Yes, your score goes down....However, if they only pull a credit report from say..Experian that score will go down and the other two will remain the same.\nAll inquires will stay on your credit report for 2 years then drop off.  Try not to have your credit pulled to many times in one month.  If you have revolving credit or loans, and you make your payment a couple of times, your scores should go back to where it was when you had it pulled the first time.\nIf you go to...www.privacyguard.com\nyou can sign up for one month for $1.00 (I believe its $12.95 thereafter) and you can keep track of your fico scores and see who is pulling your credit.  The worst things to have on your credit report to bring your scores down the worst are collections, judgements and charge offs.\nAlso, try not to max your credit cards.  On credit cards try to always keep your balance at half of your limit to maximize your fico scores and never 30 days past due.  On loans, try not to pay 30 days late either.
1082533
Getting additional credit and making the payments does not necessarily improve your credit score.  Generally, you will want to pay off credit and reduce the amount you borrow to improve your credit score.  Also, it depends on how you make your payments between now and March 2007.  If you make your payments, and do not take on any additional credit, your score could improve.....I would need additional information on your existing credit situation to be sure though.
350470
Well all of you information will be on your credit report for 7 years.  Charged off accounts impact your account negatively, only when they are paid in full will they bring your score back up.  If it is not listed on your credit report DO NOT worry about it, if you are only worried about your credit score.  Looking at your scenario, it looks like your credit is in the high 500's, low 600's.  I would suggest keep making payments on time, do not close out any accounts that are currently paid to date, and if you have any more questions contact me... :)\n\ngood luck.
112859
If you have satisfied the debt and it's showing a $0 balance, that is not an inaccuracy.\n\nIt also does not bring down your score unless your payment history for that account show slow pays beyond 30, 60 and 90 days.  Additionally, it also brings down your score even if you paid down the account if the payment was received in response to a collection or a chargeoff.\n\nAlso, the reporting of a credit account does not, by itself, bring down your credit score.  Other factors come into play such as\n\n1) How old your credit history is.  \n2) What types of credit you have/had: revolving (credit cards, etc), installment (car loans typically), real estate (mortgages).\n3) Your repayment history and whether your accounts are paid as agreed or whether there have been slow pays\n4) Whether there have been garnishments, collections, liens, bankruptcies\n5) How many inquiries have been made in the past few months (i.e. have you been applying for loans all over town or trying to get credit cards)\n\nUnfortunately, I think you're out of luck on this one.  \n\nUnless you have grounds to have those accounts removed (e.g. that wasn't your account, the payment history is inaccurate), they will continue to be reported for about 5-7 years.  \n\nThe reason for this is that, before approving your credit application, creditors want to know how well you repay credit lines and loans in the past, not just the accounts with open balances.  They also want to know if you're carrying too much debt.
834484
If the report is accurate, the only thing that will take it off is time. That time should be very soon, 5-7 years it will cycle off. If you have been on time with all payments since this occured, you should have no problems.\n\nOne sure way to avoid late payments is have them on auto draft out of your checking account. This will prevent late payments and keep your interest rates LOW! I went from an AmEx black card in 2001 to broke in 2002 so trust me I know about credit repair. Happy to report the empire has been rebuilt and the black card has returned. \n\nIf you have not been late since 01 your fico score should be 700+.
99654
No, if you have credit with the company they usually report monthly or so. If you get your credit report it will tell you what months you were late over 30, 60 or 90. When it goes into Collection...well, thats a red flag. They have a section on your credit report for things like that and bankrupcy.