How long does it take to improve your credit score?

How long does it take to improve you credit score if you and paying a little over minimum each month and on time?Do credit scores really improve or get worse every three months?

Public Comments

1. It improves everytime you pay on time.
2. Simply put, carrying debt is not a bad thing for credit. Paying on time is a great thing and not paying on time is a bad thing. Your debt relative to your income can play into it but we're not all privy to the rules credit bureau's use in developing a credit score. Having no debt to pay back over a long period of time is a bad thing as many people who've never had credit cards and pay cash for everything have some of the worse credit scores. I believe bad marks on your credit stay on for 7 years unless it's wrong and you dispute it to remove them. In short, pay your bills on time, don't cancel credit cards soon after getting them and if you do have a bunch and you don't want to use them, just cut them up but don't use or cancel a bunch at once.
3. It depends on what on your credit report. If it is credit fraud, it can take years. My husband disputed 3 that didnt even have his signature, and were across the country and it took him 3 years to finally get them off. If you have no credit, open up a line and pay everything on time for 6 months, that is when most agencies report how you are doing. If you have bad credit, try a secured credit card. (you pay the amount you are going to use on credit, they hold it as a deposit) Don't get a loan for things you can't pay for, and only use credit cards for things you have the money for. When you get home, cut them a check.
4. If you pay on time, which you probably haven't, then each month, the creditors send in reports. This will include closed accounts, late payments, bk, repossessions, and timely payments. It will include inquiries based on your applying or a credit card company checking before they send out a mass application mailing. The best thing to do to improve is pay on time, or pay it off. Paying it off improves your score and puts money in your pocket. Try to live on what you can pay for in cash. You will see your bank account increase in value. Check Dave Ramsey.
5. It is good that you are paying on time. Minimum or a little over does not really matter. Depends on what is wrong with your credit it make take from 1 month to one year assuming that nothing else will mess up your credit during this time. Where you have to mainly look in order to improve your credit? 1. On time payment. 2. Length of the active trade lines reporting in your history, longer is better. 3. Keep not more than 40% of your credit limit as your ending balance on all your credit cards. 4. Number of inquiries for a credit which was authorized by you, less is better There are other factors to consider but the above mentioned are most important when you are looking for a fast improvement. Your credit information may be updated every day and your score depends on actual data at the time of inquiry.
6. 8 months. A small loan consolidation with low interest is the best I found interesting information about your answer & options here. http://all-debt-consolidation-loan.blogspot.com/2007/07/loan-consolidation.html