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Naresh1992

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Low Scores!!! Need help...
My credit scores are EX-482 and EQ-485.I know its horrible, but plz help!!!!!!

I have 3 cards viz. Discover -1750$, Amex-1000$ and Credit One-550$. All cards maxed out. I just got out of school three months ago and started my first job last week. I plan on clearing all my balances on my cards by end of November or early December. How fast will i see an increase in my scores? Only 2 Late payments have been recorded by Discover, I have been prompt in making minimum payments.

Will i increase my score somewhere close to 750 within 4 months considering i use less than 10% on all my cards once it’s all cleared up.(I know its way more to ask for)
I plan on buying a new car by March 2017. Is it a good idea? Any help in this sort is greatly appreciated.
Thanks

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I would venture to say 750 is unobtainable in near future unfortunately, the high balances/utilization have no long term effect to your credit scores, it reflects whatever balances you have at the time it's pulled. But what will weight your scores down are the recent late payment(s), even when comes to a time your scores do reaches your desired level? The bad mark(s) may still play a role in your approval process, especially when comes to mortgages. If it's possible? write few "Good Will" letters to creditor(s) to ask them remove the lates, you may need to send it few times and send to their higher ups, wouldn't hurt to try. Best of luck.

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