do you think i could repair my credit by january?
Im trying to get a loan and i wont get approved because my score is 525. I owe a student loan of $1,798.00, Macy’s about $300.00 Victoria’s secret about $350.00 and express $300.00. When i was 19 I settled a mastercard off which was about $ 2500.00. If I pay everything but the student loan can I bring up my credit score? if not what do you guys suggest? thanks and god bless
Are those current credit cards or are they in default? If they are current, pay them off. It is silly to pay the high interest rate on those store credit cards.
Are you saying that you defaulted on the Mastercard and settled for less than full balance? Or is the balance still unpaid?
Even if you paid off every one of these debts in full, you will not raise your score enough by January. Damage done by derogatory items stay even if you pay in full. Credit scores simply don’t go up that quickly.
You will need at least 24 months of consistent, on time payment history to even begin to improve your score. The longer the good payment history, the better your score.
