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. http://myfinancialeducationservices.com/personal-finances/long-improve-credit-score/

1. Credit is The Key to Financial Success
Mark Bustamonte
Regional Sales Director
954-707-2932
www.MyFinancialEducationServices.com

2. 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.
No two credit profiles are alike. There are
many factors that go in to determining a
person’s credit score.

3. The first thing I would tell you is the
improvement of your credit score is NOT an
overnight process. In some cases it could take
as long as a year or more. In other cases it could
take as little as 45 days. The key here is, when
you say, how long does it take to improve credit
score? What are your goals?

4. Are you trying to increase your score by a
certain number of points to meet a credit score
requirement to make a purchase? Or are you
trying to raises your score to the highest
possible level to improve your overall financial
picture?

5. So where do we start when
looking to
improve your credit score?

6. Obviously you need to have a copy of your credit
report to review. What exactly are you looking
for when reviewing your credit report? The first
Thing you need to do is check your report for
accuracy.

7. Make sure that the information that is reporting is
correct. Things like your name, address, social
security number, employment info, residence.
This information may not play a role in your score
But remember this is your report and you want it
to be accurate.

8. The next thing you want to look for is any
derogatory information that might be reporting.
Things like late payments, collections or charge-
offs.

9. As well you want to check the public record
section of your report to see if you have any
judgments or liens reporting. If you have this
type of information you may need to talk with a
professional service to assist you in the
possibility of removing these items.

10. After you’ve checked for derogatory information
reporting the next step is to check your debt to
credit balances. In other words are any of your
credit cards maxed out or over the limit? The
rule of thumb here is to pay down your credit
cards to 30% of the available balance in order to
maximize your credit score.

11. So if your credit limit is $1000.00, you want to
keep your balance below $300.00. By simply
doing this you can greatly increase your score in
a short period of time, as long as there are no
other issues with your credit report.

12. Another item to look at is how many and what
type active accounts do you have open? How
many revolving accounts, installment accounts,
store credit, secured accounts…etc. Mixture of
credit also plays a role in having a good credit
score.

13. This is something that can take a little time to
establish but something you need to be aware
of. You may need to establish addition revolving
accounts (2 to 3 seems to work well). Again,
remember to keep your balances below 30%.

14. These are just a few on the things that will help
you improve your credit score. The important
thing to remember is that it’s going to take some
time but the effort will be well worth it in the
long run.

15. So the question really isn’t, how long does It
take to improve credit score, but “what do I need
to do to improve my credit score”, then make the
long term commitment to just do it and
everything else will fall into place.
Mark Bustamonte
Regional Sales Director
954-707-2932
www.MyFinancialEducationServices.com