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Topics addressed on June 23, 2010:
You can’t improve your credit “all at once”
How can I improve my credit all at once?
The direct answer is you can’t do anything that will cause your credit to go from bad to great overnight. Any kind of rehabilitation takes time.
Remember, your credit report is a credit history. It gives lenders and other businesses insight into how you manage your credit over long periods of time. Bringing all of your payments current and paying off debts likely will help, but you will need to continue to make all of your payments on time and use your credit cards while keeping your balances low to demonstrate that you have taken control of your credit.
Just how long it will take to restore a strong credit history depends on how severe your past problems were. The more severe the issues and the longer they lasted, the longer it will take to restore your credit history. The good news is that it can be done.
Negative information doesn’t last forever. You can find details about when information is deleted in past columns.
Thanks for asking.
- The "Ask Experian" team