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!

Question

Posted in Credit Cards
Profile Image

Question By
ssh2pd

0 Contributions
0 People Helped
if i pay all of my credit card debt by jan 2014 what can my credit score increase to by may
it is currently 558 on here and 507 on freecreditreport. i am 21 and a senior finance major and fear that my credit score will prevent me from getting a job

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
432 Contributions
364 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Without more details it is hard to even estimate. Reducing your utilization from 90% to 20% could potentially increase your score by as much as 150 points, assuming you have no late pays.

Top Contributor
199 Contributions
216 People Helped

Have you tried the debt simulator? It's somewhat helpful.

It's my understanding that fair or average credit is OK for financial positions. I'd be more concerned about active delinquencies and negative stuff like bankruptcy, so I'd start with the delinquencies. Between that and paying off your other revolving debt you should see a decent improvement. Make sure you're paying on time every month and pull all three reports to confirm that there aren't any errors.

Even with all of this it takes several months for all changes to appear on your report(s).

Results 1-2 of 2Results 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.

SIGN UP NOW

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.