How long does it take to rebuild credit?

I don't have anything seriously bad on my report, but I did have some late payments on my credit cards in the past year. Now I have a new job that pays well and I am wondering how long it will take before I can be approved for like a car or a home loan.

How long does it take to rebuild credit?

hello, Depending on the bills you are late on.

Most credit card companies will re-age the account after you have made three ontime payments in a row. You will have to call and ask what there policy on reaging is. Most will garantee in writing and allow you to make all three payments at once. (ei. min payment $20.00 per month. Send 3 $20.00 payments mailed seperatly and marked for what month).

Student loans can be Rehabilitated. This is pretty much the same thing.

Next thing would be if you could find a friend or family member to let you be an Authorized User on there credit account. You do not have to have a credit card just be an authorized user. Lets say your friend lets you do this and they have had a credit card in good standing for 6 yrs. Once you are added and the creditor reports to the CRA you will have all 6 yrs of payment history! I did this myself and raised my score almost 100 points in a month. Make sure however adds you is in good credit standing because bad credit could also be reported. Remeber they do not have to give you card just add your name as an Authorized User.

Good luck

How long does it take to rebuild credit?

You have to show all payments are on time and paid every month..You will see the first improvement as little as 3 months and a larger improvement in your score at one year. Most marks rotate on your credit report every three months but they can see the last year as well.

How long does it take to rebuild credit?

Takes seven years for negative items to disappear from your credit report. Sorry, but I know from experience (twice).

How long does it take to rebuild credit?

could take 6 months to a year

How long does it take to rebuild credit?

It can depend on a variety of factors:

How much debt you have in general vs. your available credit make sure that your cards aren't maxed out

Whether you applied for new credit lately

And what kind of credit you currently have. Is it all credit cards. It helps your score if you have not only revolving (credit) but installment loans as well.

Also, are you sure that there's no errors on your report to begin with? If so, you should dispute each inaccuracy to all 3 credit bureaus.

It will taek some time, but you should be able to see a change within a year or so.

How long does it take to rebuild credit?

One thing that you can do now is to pay down your balance on your credit card. That will improve your income to debt ratio and therefore will increase your credit. There's nothing you can do to erase the late payments in the past. It's going to take time.