Question by : How long before payments improve your credit?
For example. If you owe 4r companies 500 dollars each. Your current credit score is 590. How long will it take to come off your credit if you pay those creditors their money? Also about how many points would your score go up from 590?

Best answer:

Answer by cainvest1
Here are the eight factors that impact your credit score:

• Payment History (30%)
• Amount of Credit Used (20%)
• Amount of Cash flow (15%)
• Types of Credit (10%)
• Credit Balances (10%)
• Amount of Available Credit (5%)
• New Credit Lines Opened (5%)
• Length of Credit History (5%)

Your payment history weights high on the FICO score. Paying on-time and paying off debt has the greatest impact on improving your score.

It is impossible to determine how much your score will increase as all these factors are taken into account.

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