How Quick Can a Credit Score Rise?

A person's credit score measures the probability that she will repay her loans. These scores range from 300 to 850, with 620 being the minimum "good credit" score. Your credit score can rise rapidly by following a few guidelines.

Time Frame

It is possible to see a significant rise in your credit score within three to six months, and a credit score can begin to rise in as little as one to two months.

Function

Debt-to-credit ratio is a large factor in your credit score. Generally, debt at 30 percent of your credit limit is considered ideal. Paying down your credit card balances will lead to a fast increase in your credit score.

Considerations

How fast your credit score will rise depends on your financial status. For instance, someone with a history of bankruptcy will need more time to reach a good credit score than a person with one charged-off account. Additionally, some financial institutions report to the credit bureaus sooner than others, so it may take more time to see certain negative items disappear from your credit report.

References

• MSN Money: 7 Fast Fixes for Your Credit Score
• The Motley Fool: Get It Done: Boost Your Credit Score in Months