how long it'll take to build my credit from 580 to mid 600?

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  • how long it'll take to build my credit from 580 to mid 600?


Answer #1 | 22/12 2013 14:44
It all depends...upon you! Obtain a credit card or two (Discover and a VISA card from a good bank/store) and use them. Pay everything you charge monthly. Borrow some money, and pay it off ahead of schedule. That includes your student loan (a bad idea to begin with). You need to pay more than the minimum amount and pay it off early. One of the biggest things in determining a credit score is credit history, which means how long you have had credit.
Positive: 62 %
Answer #2 | 22/12 2013 14:44
Stop obsessing over your score. It really is not that important, despite all the monitor serrvice commercials. Score is only a screening tool. Creditors make decisions based on what shows on your credit report. If the only thing on your credit report is a student loan, you have very limited credit history. That means you will be turned down for many loans even if you have a 740 FICO score. On the other hand, someone with an extensive history and a 640 score would be approved. A year's worth of on time payment history MIGHT improve your FICO score 20 points.
Positive: 56 %
Answer #3 | 22/12 2013 16:06
AS credit score is based on a 12 month actify and goes up 5 to 10% per month proviiding you are paying on time. In 12 months you'll have a fair score 620/659. in 24 a good score 660/749 and in 36+, excellent 750/840
Positive: 36 %

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