For the last year in a half I have paid all my bills on time. Also, I have paid off all of the collection that was on the credit report. Some are til there but in the status area state "paid in full". In addtion, I paid off one credit card and have two more that have a 00.00 credit limit and the balance on that is 5.00 and one for 0.00 credit limit and the bal. is 5.00. I believe i’m doing ever thing right. So how long do I have to wait the see my credit score go up?
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Sat, Jul 4, 2009
July 4th, 2009 at 6:04 pm
You are on the right track.
Get your balances on your credit cards to under 30% of your credit line(zero would be best). Once your credit cards report under 30% utilization(30-90 days after you pay them down) you should see your score go up. Like the other poster said a "paid collection" will stay on your credit report for 7 years but the farther away from that date the less impact it will have on your credit score.
Check out http://www.myfico.com and look in the credit education section. It will give you the info you are looking for to maximize your credit score.
Good Luck
July 4th, 2009 at 6:04 pm
It should be up already, check it again.
July 4th, 2009 at 6:04 pm
It should already be improving try to get the credit card balances under 30% of your credit line. The collections will stay on your credit report for a number of years usually 7 but as they age they will have less impact on you credit score. For more info check out this site:
http://clarkhoward.com/