Comments on: How long until my credit score can be considered "good"? http://www.mobilemerchantaccount.net/how-long-until-my-credit-score-can-be-considered-good The Best In Telephone Credit Card Processing Sat, 11 Feb 2012 07:41:53 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: bdancer222 http://www.mobilemerchantaccount.net/how-long-until-my-credit-score-can-be-considered-good/comment-page-1#comment-1205 bdancer222 Mon, 15 Mar 2010 13:26:38 +0000 http://www.mobilemerchantaccount.net/how-long-until-my-credit-score-can-be-considered-good#comment-1205 Paying off derogatory items does not improve your score. The damage is done and remains for the balance of the 7 year reporting period, whether paid, setttled, or unpaid. However, creditors look at your whole credit report, not just the score. Paid old debt looks better. Your insurance, phones, and internet are not extensions of credit and are not reported to the credit bureaus unless you default and are turned to a collection agency. You will need at least 24 months of consistent, on time payment history to see any improvement in your score. In a year, you may want to get another credit card. Use both cards and pay in full every month. This will expand your credit. Paying off derogatory items does not improve your score. The damage is done and remains for the balance of the 7 year reporting period, whether paid, setttled, or unpaid. However, creditors look at your whole credit report, not just the score. Paid old debt looks better.

Your insurance, phones, and internet are not extensions of credit and are not reported to the credit bureaus unless you default and are turned to a collection agency.

You will need at least 24 months of consistent, on time payment history to see any improvement in your score. In a year, you may want to get another credit card. Use both cards and pay in full every month. This will expand your credit.

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