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Topics addressed on June 28, 2006:
How long it takes for scores to go up depends on your overall credit history
How long after negative information is removed will it take for your credit score to go back up? When viewing your credit report, can a business see if you have been denied credit?
It is impossible to say precisely how much a credit score will change or how quickly because credit scores consider your entire credit history. How long it will take for your credit scores to improve and by how much depends on the information that was removed and how it related to your overall credit history.
There could be significant improvement quickly if there is no other negative information remaining. However, you could see very little change if there still are late payments or public records – court judgments, tax liens, or bankruptcy in your credit history, especially if the remaining negative information is more recent.
Your credit report does not indicate if an application was approved or declined. There may be an inquiry indicating you applied for credit. The only evidence of approval would be the appearance of a new account. However, if a new account is not added, it does not necessarily mean you were declined. You simply could have chosen not to accept the loan. Lenders do not interpret the appearance off an inquiry without a new account as a declination.
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- The "Ask Experian" team