Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Scores
Profile Image

Question By

0 Contributions
0 People Helped
How can i recover from a 400 score at 22 years old? How long should it take?
So a little backstory. I never understood how finance and debt worked until recently. Im a 22 year old (23 in a month) who is done with college and left with only 15,000 in debt. I have 2 accounts that are in collections ( one i paid off today) the other is only for 200 dollars. I have enough money to pay off both things in collections today. I also have an income of between 3-7,000 a month depending on how much i sell. I have never had a credit card before because i always thought that was for people without money ( due to my not understanding how credit works) and now its clearly effected my score. What is the quickest way to recover from this? any help would be appreciated, i never thought i would have so much money in my bank account yet be so low on my credit score.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
3 Contributions
6 People Helped

hey 400

Helpful to 6 out of 6 people

im a whole lot older too one year ago my score was barely 500 on ck. Theres awesome advise here. I totally agree with jwsister. pay off old collections but negoiate for removal from credit reporting agencies. Next get a secured card from your bank or credit union. My credit union had 9.49%, however treat it like a debit card. My score jumped 85pts the moment this card reported. Each paid  collection netted 15pts each with the last netting 30pts. After six months got a CapOne quicksilver 39.00annual fee but get 1.5% cash back. My score jumped another 20plus pts. after 5months got credit line increase to 800.00and score jumped 30pts. They just raised me a month later to $1300.00 and my score is 733TU. 716 EQ 719EX.  CK 3.0scores are TU 709 EQ 708. Than theres all the other score fico, vantage, bankcard, insurance, mortgage score and more. What matters is my score jumped 200pts in less than a year and yours can too. Do one thing at a time and dont apply for any credit faster than one app per six months. I always pay my credit cards in full before i get  a statement. Dont carry any balances you will just pay. Thats the advise from lexington law. I carried 1% balances for months. Paying in full netted an addional 20+pts as well. Goodluck and just be patient it will happen for you, if only there was CreditKarma when i was ur age. I would have been in the 760 club long ago.

Top Contributor
11699 Contributions
4497 People Helped

Relax, It's Gonna Be OK

Helpful to 5 out of 5 people

I am a whole lot older than you and had long had the idea  that paying cash was the best way.  I'd studied accounting, too, and credit management wasn't in the curriculum.  Finding Credit Karma a couple of years ago has provided me a gold mine of information so my credit score has improved. I read all the articles and used many of the financial tools to learn more.

You definitely want to get all collections paid off as fast as possible because having gone to collections puts a negative on yoiur credit score. When you start paying on the student loans, do not miss one.  That is one debt that remains until paid in full, no matter how long it takes.

You can begin building your credit score by getting a secured credit card from your bank or credit union if they offer one, or from the list on this site. Keep your usage at or below 10% for the best usage mark on your score. It's not going to be a fast trip, but won't be that terribly slow, either. You are young, and smart and on your way Just learn from the information on this site, put it into practice and your  credit life can improve dramatically in a few years, which isn't too long.

1 Contribution
0 People Helped

415 credit score

Please I need to know what I can do to atlas reach 500 in 6months.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.