Doug's Credit Center Blog

How Often Can Will My Credit Score Raise


If you recently made a huge payment on one of your credit cards or your car loan there is a good chance that you are eagerly awaiting your new credit scores. However, you must consider the length of time that it takes for your payments to be reported and how quickly you score can be affected.


How Often Entities Report

A major determining factor in how often your credit scores will raise is based on how frequently the lender reports to the crediting agency. For example, a major car dealers will inform the crediting agencies if you’re making your payments on a regular basis. However, a credit card from a small store, it can take awhile to be reported.

Not a Magic Fix

Just because you paid a payment on a bill does not mean that the fault is going to disappear immediately. Some problems can stay on your credit report for quite a number of years. For example, let’s just say that you are looking to get a car loan after bankruptcy at the moment. You recently made your first payment for the bankruptcy. This does not mean that the mark is going to magically disappear from your credit report! In fact, it could very well stay on there for close to a decade.

Negotiating The Problems

When something appears on your credit report that is really bad, you probably want to get it taken off of there as soon as possible. This is particularly true if you are looking into getting a home or car loan sometime soon. You need to identify the specific issue and then calling the crediting agency to find out what you can do.

If it is a false charge, you will likely have to dispute it. You should also call the place that claims you made the charge in the first place to find out if it can come off. Sometimes, you can negotiate with them as well. If you make a large lump sum payment toward your debt, the agency might remove the mark from your credit.

Clearly, the amount of time it takes for your score to rise can really vary. It depends upon:

  • How frequently the lender reports to the agency
  • The type of debt you have and whether or not you are paying
  • Whether or not you are in negotiations to have something removed from your report

Considering all of these factors should help to give you an estimate.


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