credit score?

How often does your credit score goes up, does it go up every 6months with on time payments, or every month with on time payments. I need answers to this question because I want my credit score to reach 700. My score is now 509, but if I make payments from here and out on time, how long would it take for my credit score to reach 700. I don't have have any credit card debts just hospital bill collections, and utility bill collections thats no more than $6,000.

Public Comments

1. It will take a lot of time or some credit repair to get it up from 509 to 700. Collections stay on your credit report for 7 years whether you pay them or not...unless you request and they accept a "pay for delete." If I were you, I would learn how to repair your credit. Credit repair is free.
2. Credit scores are changing daily with new information. If you are trying to raise your score by 200 points with nothing but collections, it's going to take forever. You need to get a credit card and use it for everyday things like gas and food, being careful never to exceed 30% of your credit limit in any given month and pay it off in full before the due date every month. I have done this for the last 2 years with 2 credit cards and have raised my score 150 points.
3. If you have bad credit, that bad credit will stay on your file for 6 or 7 years even if you pay it off before that time. It will show paid on your credit file, but ultimately it is still negative credit. The only way to raise your credit score, is to get yourself a secured credit card, or get something financed somewhere (you'll probably pay real high interest if accepted). You can't gain positive credit from having only negative comments on your credit file. Even if you pay it off. You need to get something positive on there to outweigh some of the negative. Only then will your score climb. But it won't climb fast so be patient. Once you have bad credit, you are pretty much screwed.
4. The following 5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one. 1. Re-payment history This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score. 2. Outstanding debt The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is 30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum. 3. Length of your established credit history The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score. Read More from: http://www.credit-card-gallery.com/article/204,5_critical_factors_affecting_your_credit_score
5. Your credit score changes whenever a company reports info on your credit report. So it can happen in as little as two weeks. there are a lot of factors considered in your score and when you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it... Your Credit Score (also known as your MyFico score) is calculated with the following breakdown: 35% - Payment History 30% - Credit to Debt Ratio 15% - Credit History 10% - New Credit 10% - Credit Types in Use I raised mine to well over 700 points from 500 using these steps in less than a year -- : # Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score tracking listed below. It really helped my get my score up.) # Never Miss a Payment, Starting Today # Never use more than 20% of your Available Credit # Keep Credit Cards that Have No Annual Fees Open For as Long as Possible # Extend Your Credit Limit on Cards You Already Have before You Get New Ones # Get Credit Cards that Have CashBack Rewards to Contribute to your Balance # Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- # If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan # Take out a Small Personal Loan and Repay it Over a Year # Ask Someone With Good Credit if They will Account Shadow you Read more here: 10-Ways to Boost Your MyFico Score http://millionster.com/articles/debt/increase-fico-credit-score/ Try the credit tracker so you can watch how your score changes and get alerted everytime theres an update! It's pretty cool I've used it for a few months now since i'm trying to buy a house... let me know if links below work for u they're from my blog