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How long does it take for your score to come back up?


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My score before disputing on EQ was 627 then it flew to 670 then down hill from there. It was 602 now yesterday it was 587 :eek: I have started rebuilding within the past 2 weeks. When can I expect to see a turn around?

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<blockquote>Originally posted by kb9tbq

How have you started on rebuilding your credit?

If you just opened new accounts; it takes at the least 30 days for the creditors to report these.

</blockquote>

I have gotten a few new cards. I also got approved for a Home Depot card. The card isn't even in my hands and they have started reporting it already. So Maybe I am looking at 30 days? My score goes down everyday that I check it.

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Well there are a few factors in play here:

Recently established credit will initially hurt the score - but as you use the account & establish a good payment history. It will age & contribute to the scores increasing.

Also look at how many of what types of accounts you are holding. Too many of one type like more than 3 or 4 revolving credit cards can negatively impact the score.

Also look at the credit limit established per account; so if you have other accounts which are maxed out. You may consider transfering partial balances over to the new accounts. You want to keep utilization to less than 40% per account for the best results.

I am sure the recent inquiries are also playing into the lower credit score. Will just take some time to recoup from these. If you have older inquiries that are near the 2 year mark - you should see an increase when they start falling off.

Going back to the mix of credit; if after a while you can show better than two years good payment history. Try to get established installment loans - with banks / credit unions. Avoid doing business with personal finance companies if you can.

This part will take some time to start reaping the benefits of the newly established accounts.

*** On the subject of you already seeing tradelines added to the credit report. Would say that you must of applied close to their reporting time of the month. But each creditor is different as to what time of the month they report. It will be only once a month though that you see changes made on the credit rpeorts.

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