Ask Credit Karma: When Will My Credit Score Improve, and By How Much?

Ask Credit Karma: When Will My Credit Score Improve, and By How Much?

It’s summer’s home stretch and you might be putting your sunblock and swimsuit away, but we forecast a bright, sunny credit future for you still ahead! Today, we answer curious LearnVesters’ credit-related questions.

How long does it take to see an increase in your score? If I've been working on mine since September 2009, can I expect to see a decent increase when I check again next month?
--Kate T.

Credit scores can change at any time, whenever new information updates your credit report. But a myriad of factors calculate your credit score, so it’s not an exact science to predict how and when your score will change. For example, if you are paying down debt but declared bankruptcy in the past, it takes a confluence of credit actions, not just one isolated action, to rebuild credit. Or if you have late payments on record, it takes several months of on-time payments to establish good payment history.

But have faith that working on your credit score will pay off over time. Keep up good credit habits and check your credit score regularly to track progress (since creditors typically report to the bureaus every 30 days), and your credit score will soon see brighter days.

What are the types of increases one can expect to see in a credit score with various debt repayments and credit increasing activities?

--Amy B.

If you want an interesting look at how your credit may change according to certain actions, check out our free Credit Simulator. Again, there’s no exact science to credit scores, but seeing a glimpse of how your credit score could increase if you stick to your debt repayment plan or credit card diet is a good motivation to follow through.

Have a credit conundrum of your own? Tweet your stumpers to @LearnVest or post on LearnVest’s Facebook for our next exclusive Q&A, and stop by our Credit Advice Center for a look at what other credit-conscious consumers are chatting about.


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