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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Question by JJ: Who should i talk to about getting a 50 loan with a 660 credit score?
I tried at wells fargo bank and they said my credit card balances were too high. is there a lender that will actually finance me.
Best answer:
Answer by Mr Goodhi ©
Credt union?
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Question by b_j_sanchez: How much and how fast will my credit score improve?
I had 6 cards and I am paying all of them off only 1 still has a balance and I am almost done. I closed 2 of them because I figured 6 was way too many. But I have also heard not to close your credit cards when you pay them off. Any advice what I should do with the 4 remaining ones? Close 1-2 more or leave them all?
As I pay them off how fast and how much can I expect to see my score improve? It’s currently around a 590 and I don’t know why it’s so low I was only late once or twice and never more than 30 days. I’ve been working in paying them off for a while now and haven’t seen it go up at all.. what gives?
Best answer:
Answer by Joseph, II
Keep the REST of your Cards Open (but without a Balance); make SURE you’re paying everything ELSE on time…- & try to be Pacient. Credit scores do NOT go up- overnight… If you can get a 100 point Improvement by this time NEXT Year- you’ll be doing ok… But be FOREWARNED; ANY mess-ups on YOUR part- will cost You MONTHS on repairing your Credit Score (if not Years…). Credit is aLOT easier to LOSE- than to get Back… 
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Question by Becka: Has the national credit score average gotten worse since the economy crisis?
Just curious….everyday you hear about banks and big companies going bankrupt, and people losing jobs…so I was wondering if as a “whole” the U.S seen a drop in average credit scores since the economy has been rough.
Best answer:
Answer by stan c
When people lose their jobs, it will effect their credit score since they no longer have the funds to pay their accounts on time.
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Question by s1sm00n: What is the best way to improve credit score if I have no credit?
I am debt free and have been since my bankruptcy over 12 years ago. I recently looked into getting a mortgage, but was told I can’t get one because my credit score is too low. I went on freecreditreport.com and got a copy and there are some things on there that are not identified, and I don’t know what they are. So, how do I have those removed? I am assuming that will improve my credit score so I can get a mortgage. Advice is appreciated!
Best answer:
Answer by Rae♥♥ NYPD
Purchasing things that would take months to pay.
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