Credit is The Key to Financial Success        Mark Bustamonte      Regional Sales Director           954-707-2932www.MyFin...
How long does it take to improve credit score isa question I get quite frequently. The answer tothis question can and will...
The first thing I would tell you is theimprovement of your credit score is NOT anovernight process. In some cases it could...
Are you trying to increase your score by acertain number of points to meet a credit scorerequirement to make a purchase? O...
So where do we start when        looking toimprove your credit score?
Obviously you need to have a copy of your creditreport to review. What exactly are you lookingfor when reviewing your cred...
Make sure that the information that is reporting iscorrect. Things like your name, address, socialsecurity number, employm...
The next thing you want to look for is anyderogatory information that might be reporting.Things like late payments, collec...
As well you want to check the public recordsection of your report to see if you have anyjudgments or liens reporting. If y...
After you’ve checked for derogatory informationreporting the next step is to check your debt tocredit balances. In other w...
So if your credit limit is $1000.00, you want tokeep your balance below $300.00. By simplydoing this you can greatly incre...
Another item to look at is how many and whattype active accounts do you have open? Howmany revolving accounts, installment...
This is something that can take a little time toestablish but something you need to be awareof. You may need to establish ...
These are just a few on the things that will helpyou improve your credit score. The importantthing to remember is that it’...
So the question really isn’t, how long does Ittake to improve credit score, but “what do I needto do to improve my credit ...
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How long does it take to improve credit score

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How long does it take to improve credit score is a question I get quite frequently. The answer to this question can and will depend upon the individual personal credit profile and situation.

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How long does it take to improve credit score

  1. 1. Credit is The Key to Financial Success Mark Bustamonte Regional Sales Director 954-707-2932www.MyFinancialEducationServices.com
  2. 2. How long does it take to improve credit score isa question I get quite frequently. The answer tothis question can and will depend upon theindividual personal credit profile and situation.No two credit profiles are alike. There aremany factors that go in to determining aperson’s credit score.
  3. 3. The first thing I would tell you is theimprovement of your credit score is NOT anovernight process. In some cases it could takeas long as a year or more. In other cases it couldtake as little as 45 days. The key here is, whenyou say, how long does it take to improve creditscore? What are your goals?
  4. 4. Are you trying to increase your score by acertain number of points to meet a credit scorerequirement to make a purchase? Or are youtrying to raises your score to the highestpossible level to improve your overall financialpicture?
  5. 5. So where do we start when looking toimprove your credit score?
  6. 6. Obviously you need to have a copy of your creditreport to review. What exactly are you lookingfor when reviewing your credit report? The firstThing you need to do is check your report foraccuracy.
  7. 7. Make sure that the information that is reporting iscorrect. Things like your name, address, socialsecurity number, employment info, residence.This information may not play a role in your scoreBut remember this is your report and you want itto be accurate.
  8. 8. The next thing you want to look for is anyderogatory information that might be reporting.Things like late payments, collections or charge-offs.
  9. 9. As well you want to check the public recordsection of your report to see if you have anyjudgments or liens reporting. If you have thistype of information you may need to talk with aprofessional service to assist you in thepossibility of removing these items.
  10. 10. After you’ve checked for derogatory informationreporting the next step is to check your debt tocredit balances. In other words are any of yourcredit cards maxed out or over the limit? Therule of thumb here is to pay down your creditcards to 30% of the available balance in order tomaximize your credit score.
  11. 11. So if your credit limit is $1000.00, you want tokeep your balance below $300.00. By simplydoing this you can greatly increase your score ina short period of time, as long as there are noother issues with your credit report.
  12. 12. Another item to look at is how many and whattype active accounts do you have open? Howmany revolving accounts, installment accounts,store credit, secured accounts…etc. Mixture ofcredit also plays a role in having a good creditscore.
  13. 13. This is something that can take a little time toestablish but something you need to be awareof. You may need to establish addition revolvingaccounts (2 to 3 seems to work well). Again,remember to keep your balances below 30%.
  14. 14. These are just a few on the things that will helpyou improve your credit score. The importantthing to remember is that it’s going to take sometime but the effort will be well worth it in thelong run.
  15. 15. So the question really isn’t, how long does Ittake to improve credit score, but “what do I needto do to improve my credit score”, then make thelong term commitment to just do it andeverything else will fall into place. Mark Bustamonte Regional Sales Director 954-707-2932 www.MyFinancialEducationServices.com

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