I have a credit score of 575?

and i payed down half of my credit card. and payed off a collection do you think it should bring my score up by 5 or more points did this biginning of last month

I have a credit score of 575?

Assuming that you need to raise your score for a specific thing. You can ask a mortgage loan officer your exact same question. I am a real estate agent and have clients ask me similar questions all the time. Their mortgage reps call the loan underwriters and can tell them things like %26quot;if you pay these 2 cards down to less than 50% your score will rise 15 points.%26quot; However they need to prove it with receipts because the credit reporting bureaus never seem t report positive things quickly. So; yes you can but check with a pro.

I have a credit score of 575?

i can%26#039;t say anything for sure, but i%26#039;d think that would make at least that much of a difference for you.

I have a credit score of 575?

Whoa that%26#039;s low. It%26#039;s going to take awhile. It%26#039;s not going to go up overnight. it takes time.

I have a credit score of 575?

Your credit score sucks, but it%26#039;s still better than mine. But I%26#039;m a semi-employed musician, so that%26#039;s alright.

I have a credit score of 575?

It is kind of hard to answer that. Your credit score is a non-linear multi-factor analysis with decaying values. Single events do not have a large impact unless they are extremely adverse. Paying off the collection account was a great thing to do, but its adverse value decays with time and does not bring an instant change.

I have a credit score of 575?

Once something goes into collection, it doesnt increase your points if you paid it off. It only increases when you pay on time. Once the damage is done, they will not give you points for paying it. Pay your bills on time. It%26#039;s not so much if its paid in half or in full.. but it must be on time .. all the time. That will increase your points. Having a small loan, a car loan, etc and paying on time all the time will increase your points. And do not check your credit too frequently as this will reduce your points. Also having too many people %26quot;inquire%26quot; (such as new credit cards, loans, etc), will cause you to lose points. Good luck!

I have a credit score of 575?

Your credit score can rise 5 points but remember that every time you pull your credit report you lose points. So don%26#039;t pull it very often. If you need to fix your credit see what you can do with the bad items that are on there. Every time you have someone %26quot;take a look at your credit%26quot; for you it will cost you more then the 5 points you might have gained. That goes for mortgage companies, car lenders, credit car companies. Work with someone that knows what they are doing and fix any problems. It isn%26#039;t hard to have a credit score fixed if you really want it. Keep at it.

I have a credit score of 575?

Nothing is going to quickly jump your score if you have a collection history - you%26#039;ll have to patiently build an ontime payment history and not exceed recommended debt-to-credit line ratio to move that score.

Routinely do these:

-Never exceed 25% of your avail. credit on a revolving acct. Ask for a credit line increase to meet this criteria.

-Use one credit card for two months and pay it off every month then switch to another one for two months and pay it off every month...keep this up.

-Find a relative with excellent credit and ask them to add your name as authorized user without giving you the card. I did this for my brother after Hurricane Katrina. They will not be negatively affected by your credit history.

Best Wishes,

pup

I have a credit score of 575?

This will increase your score but reporting agencies use complicated algorithms to calculate your scores so there%26#039;s no way of knowing how much you score will be affected from the info you gave us. First of we have no idea what types of accounts or how many you have which is a big factor in calculating your score. Check out http://creditwisdom.blogspot.com/2006/09... for a breakdwon of how your fico score in calcuated and a link for a credit score estimator.

I have a credit score of 575?

You can bring your score up for it will take a couple of months. Please do not have any other company pull your credit. You can pull your own credit and it will not affect your score. If you have a business pull your credit it will cause your credit score down. Do not open any new credit and do not open any new credit for at least 6 months. After the 6 months limit putting in applications for credit, especially store credit cards.

I have a credit score of 575?

Please be aware:

Paying a collection item in full doesn%26#039;t necessary %26quot;boost%26quot; your FICO score unless you requested, in writing, a %26quot;pay for deletion%26quot; which recommends that the collection agency remove the item altogether from your credit report because of your settling the account.

Please see link below in regards to %26quot;pay for deletion%26quot; practices for any future collection notices you may receive.

Paying down half of ONE credit card balance might boost your credit score, but it depends on how much THAT credit card debt is relative to your total outstanding debt as contained in your credit report.

For example, if you have total outstanding debt of $40,000 and you paid one-half of a balance of $1,000 with Macy%26#039;s. You have not made a major dent in your overall debt. As such, your FICO score may not change much.

On the other hand, if you paid down a huge debt of $8,000 out of a total debt of $40,000, then you can expect a noticeable jump in your FICO score.