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How long and how much?
I just paid off all my debts. My credit score is in the upper 500's. How long must I wait for my credit score to go up and how much should it go up? I had one judgement for a hospital bill, I had another hospital bill, I had a lab charge from a hospital, and I had an electric bill a close friend had ran up and ditched me with. This was about $2,200 worth of charges and none older then 2 years except for the initial judgement. I'm only 23 years old. I continue to keep a credit card that I make small charges on and payoff every month. I paid off all my debts about 15 days ago.

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Focus on your credit report, not score!

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If you plan to rebuild your credit to apply for a loan later on, read on.

I copy my answer for another question here. It may help answering your question as well.

Most people worry about their credit score, while they should, instead, worry about their credit report. When you apply for a loan, credit card for example, credit grantor will pull your credit report. A score will be calculated based on that credit report. That score can be from the bureau where the report was pulled or credit grantor can apply their own mysterical function to come up with a score. Only when your score passes a certain high threshold level (normally very high), then that's it, you get approved right away. More often than not, your application will be pending, until a real credit analyst looks at your credit report and makes a decision. Having said that, if you keep paying on time (in full or even more than in full is best), your credit report for sure looks better this month than it looked last month, no matter how your credit score changes. Now I will explain why you have such change. This is because your balance will vary each month, that leads to a varying utilisation percentage, a major component in calculating credit score. So even every other aspects of your credit report are the same, you will most likely have a new score every month!

Keep up the good work that you're doing with your credit card. Your REPORT is guaranteed to look better after every month.

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