How Fast Can You Raise Your Credit Score? (2024)

Your credit score is constantly changing, and for most people, the ultimate goal is to get their credit score to go up. So how long does it take for your credit score to rise?

The length of time it takes to increase your credit score can vary depending on your situation. However, you could see an improvement in as little as 30 to 45 days depending on specific action steps.

How long it takes to improve your credit score can also depend heavily on the type of event that caused your credit score to drop.

MyFico credit score

MyFico credit score

Brand name


Monthly fee

$19.95 to $39.95 per month

Credit scoring model used


Identity insurance

Up to $1 million

Average score recovery time by type of event

A missed payment or an account sent to collections for non-payment can easily result in a 60 to 100 point drop in your credit score. How long it takes your score to recover can vary depending on your starting credit score and actual event that led to the decrease.

Here is some general information on the average credit score recovery time. These estimates are based on a fair credit score of around 680 to 720.

EventAverage credit score recovery time

Missed or defaulted payment

18 months

High credit utilization

3 months

Hard credit inquiry

3 months

Late mortgage payment (30-90 days)

9 months


3 years


6+ years

MyFico credit score

MyFico credit score

Monthly fee

$19.95 to $39.95 per month

Credit scoring model used


Identity insurance

Up to $1 million

Experian CreditWorks℠

Experian CreditWorks℠

Brand name


Monthly fee


Credit scoring model used


Identity insurance


Missed or defaulted payment

Payment history is the most important factor that makes up your credit score. When you miss a payment, you run the risk of receiving costly late fees and lowering your credit score.

Some creditors have a grace period allowing you to pay late while others may report your missed payment sooner.

If you’re struggling to make a payment on an account, always reach out to your creditor to see if they have any relief options for you such as deferment or a different payment plan.

High credit utilization

A common rule of thumb is to keep your overall credit utilization below 30%. If you do end up with a higher credit utilization or even max out your credit cards, you can always work on paying down the balances and see your credit score recover in just a few months.

Hard credit inquiry

Hard credit inquiries can stay on your credit report for up to two years. However, the negative impact on your credit score can be reduced in just a few months.

Also, if you’re shopping around for a loan such as a car loan or home, multiple (similar) credit inquiries accumulated during the same timeframe will be counted as just one credit inquiry.

Late mortgage payment

Once a payment is 30 days past due, lenders can report it to the credit bureaus. Falling behind on mortgage payments is a slippery slope that can actually increase the cost of your loan over time or even lead to foreclosure.

It will take longer for your credit score to recover after a late mortgage payment, but it’s not impossible to boost your score if you can commit to making on-time payments for the next several months.


It takes a longer time to recover your credit score after foreclosure and this legal process can start after 90 days of missed payments. The higher your credit score is, the more you’ll see a sharp decrease and it can take several years to rebuild your credit afterward.


If you file for bankruptcy, you can expect this record to stay on your credit report for up to seven to 10 years. However, you can start to see an increase in your credit score after a few years of positive payment history and other healthy financial habits that can impact your score.

Even if you’ve filed for bankruptcy before, it doesn’t mean you can’t get approved for new credit or get a mortgage in the future.

Types of credit score models

There are several credit scoring models which are used to generate your credit score. The average person has several credit scores based on the credit scoring model as well as how each of the three major credit bureaus reports their score.


FICO is one of the most common credit scoring models. It was established in 1989 by the Fair Isaac Corporation. There are several different FICO score versions ranging from FICO 2 to FICO 9, and many creditors use FICO credit scores.

FICO credit scores can range from 300 to 850.


VantageScore is another credit scoring model and competitor to the FICO score. VantageScore was developed in 2006 by the three major credit bureaus, TransUnion, Experian, and Equifax.

Just like FICO scores, VantageScore also provides credit scores for auto loans, banking, and personal loans.

VantageScore credit scores also range from 300 to 850.

How is your credit score determined

Several factors impact how your credit score is determined. Knowing these factors can help you improve your score and maintain good credit.

  • Payment history: This is the biggest factor that impacts your credit. Be sure to make on-time payments on your credit cards, loans, and other accounts. Consider setting up automatic monthly minimum payments to maintain a positive payment history.
  • Amounts owed: This refers to how much you’re borrowing compared to your income and credit limit. Generally, lenders don’t like to see that you’re utilizing most of your available credit. Credit bureaus will also lower your score if your total amount owed seems too high.
  • Length of credit history: Typically, the longer you keep accounts open, the longer your credit history will be which can positively impact your score.
  • Credit mix: This doesn’t have a huge impact on your credit score, but it is helpful to have different types of accounts open such as a mortgage, auto loan, credit cards, student loan, etc.
  • Net credit: This refers to the number of hard inquiries you have. Try to avoid applying for new credit options and accumulating several hard inquiries during the same year.

Top ways to raise your credit score

Based on the most important factors that impact your credit score, consider trying some of these tips to help boost your credit.

  • Commit to making on-time payments. Consumers can’t afford to make late payments or miss payments altogether. Your credit score will drop when creditors report the late payment, and it can take several months or more for your score to record. Instead, set up automatic payment reminders and commit to building long-term positive payment history.
  • Keep credit card utilization low. Prioritize managing your spending to avoid utilizing more than 30% of your credit limit. If you know you can’t afford to pay off your credit card balance in full at the end of the month, avoid overspending with your card and reframe your budget. Consider using a budgeting app like Simplifi by Quicken to manage your expenses, track all your card transactions, and view all your credit card balances in one place.
  • Try to keep older accounts open. If possible, keeping older credit cards and revolving credit accounts open can lengthen your credit history and improve your score.
  • Consider a secured credit card. If you have a thin credit file or are looking to improve your credit score, try getting a secured credit card first. You’ll need to make a deposit of $200 to $300 first, but managing this card well over time will improve your score. After a few months, your credit card issuer may even automatically upgrade you to an unsecured credit card. The card_name only requires a $200 deposit and also allows you to earn cash back on your purchases.
  • Shop for a bad credit loan. You might not be qualified to apply for a tradition personal loan; however, there are plenty of issuers willing to lend money to borrowers with poor credit scores. Do your research to determine the best bad credit loan for you. Moreover, you can also look into credit builder loans which are offered by banks and other online lenders. How it works is you borrow a small amount of debt and make payments over time that are reported to the three major credit bureaus. Some credit builder loans even allow you to make payments that go into a savings account then get returned back to you at the end of the repayment term.

Take action and watch your credit score rise

Your credit score will change over time and depending on certain financial events. The good news is that even if your credit score drops, it can increase with time. The time it takes to improve your credit score will vary depending on your starting point and the cause of your credit score decrease.

Also, taking specific financial actions such as paying down balances, limiting hard inquiries, and making on-time payments can help speed up the time it takes to improve your score.

Frequently asked questions (FAQs)

How much can a credit score go up in a month?

There is no set maximum amount that your credit score can increase by in one month. It all depends on your unique situation and the specific actions you’re taking to improve your credit. Realistically, you probably won’t see your credit score increase by more than 10 points in a month.

Still, a timely event such as a few hard inquiries falling off your credit report or a credit utilization ratio (for example, by paying off your credit cards) can lead to a significant increase in your credit score in a month. Remember, building credit takes time and credit scoring models are based on your activity and account history over time.

Simply put, one month of positive on-time payment history is great, but six to 12 months of positive payment history is better and will have a greater impact.

Is a 650 a good credit score?

A 650 credit score is considered good but not great. A score above 700 is considered excellent and of course, the closer your score is to 850, the better.

What credit card can I get to rebuild my credit score?

There are several credit card options to help you rebuild your score. You may want to start with a secured credit card since they are easier to get approved for. One option is the Capital One Platinum Credit Card and another is the Credit One Bank Platinum Visa card.

The OpenSky® Secured Visa® Credit Card* is also a good option for anyone looking to rebuild their credit after bankruptcy.

*Limited Time Offer: $51 funding voucher applied for all new accounts. Get a $200 credit line for $149. Click the "OpenSky® Secured Visa® Credit Card" link to see additional terms and conditions.

The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.

How Fast Can You Raise Your Credit Score? (2024)


How Fast Can You Raise Your Credit Score? ›

The length of time it will take to improve your credit scores depends on your unique financial situation, but you may see a change as soon as 30 to 45 days after you have taken steps to positively impact your credit reports.

How fast can you raise your credit score from 500 to 700? ›

The time it takes to raise your credit score from 500 to 700 can vary widely depending on your individual financial situation. On average, it may take anywhere from 12 to 24 months of responsible credit management, including timely payments and reducing debt, to see a significant improvement in your credit score.

Can I raise my credit score 100 points in 30 days? ›

In fact, some consumers may even see their credit scores rise as much as 100 points in 30 days. Steps you can take to raise your credit score quickly include: Lower your credit utilization rate. Ask for late payment forgiveness.

What brings your credit score up the fastest? ›

4 tips to boost your credit score fast
  • Pay down your revolving credit balances. If you have the funds to pay more than your minimum payment each month, you should do so. ...
  • Increase your credit limit. ...
  • Check your credit report for errors. ...
  • Ask to have negative entries that are paid off removed from your credit report.

How quickly does credit score rise? ›

How long does it take for your credit score to go up?
EventAverage credit score recovery time
Missed/defaulted payment18 months
Late mortgage payment (30 to 90 days)9 months
Closing credit card account3 months
Maxed credit card account3 months
3 more rows
Jul 27, 2023

Is 650 a good credit score? ›

As someone with a 650 credit score, you are firmly in the “fair” territory of credit. You can usually qualify for financial products like a mortgage or car loan, but you will likely pay higher interest rates than someone with a better credit score. The "good" credit range starts at 690.

Is 700 a good credit score to buy a house? ›

Yes. Assuming the rest of your finances are solid, a credit score of 700 should qualify you for all major loan programs: conventional, FHA, VA and USDA loans all have lower minimum requirements, and even jumbo loans require a 700 score at minimum.

How fast does credit score go up after paying off a credit card? ›

How long after paying off debt will my credit scores change? The three nationwide CRAs generally receive new information from your creditors and lenders every 30 to 45 days. If you've recently paid off a debt, it may take more than a month to see any changes in your credit scores.

What is a good credit score to buy a house? ›

It's recommended you have a credit score of 620 or higher when you apply for a conventional loan. If your score is below 620, lenders either won't be able to approve your loan or may be required to offer you a higher interest rate, which can result in higher monthly mortgage payments.

What's the most your credit score can go up in one month? ›

There is no set maximum amount that your credit score can increase by in one month. It all depends on your unique situation and the specific actions you're taking to improve your credit.

What builds your credit score the most? ›

There is no secret formula to building a strong credit score, but there are some guidelines that can help.
  • Pay your loans on time, every time. ...
  • Don't get close to your credit limit. ...
  • A long credit history will help your score. ...
  • Only apply for credit that you need. ...
  • Fact-check your credit reports.
Sep 1, 2020

What is #1 factor in improving your credit score? ›

1. Payment History: 35% Making debt payments on time every month benefits your credit scores more than any other single factor—and just one payment made 30 days late can do significant harm to your scores. An account sent to collections, a foreclosure or a bankruptcy can have even deeper, longer-lasting consequences.

Should I pay off my credit card in full or leave a small balance? ›

It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.

What credit score is needed to buy a car? ›

The credit score required and other eligibility factors for buying a car vary by lender and loan terms. Still, you typically need a good credit score of 661 or higher to qualify for an auto loan. About 69% of retail vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian.

Why did my credit score drop 40 points after paying off debt? ›

Why credit scores can drop after paying off a loan. Credit scores are calculated using a specific formula and indicate how likely you are to pay back a loan on time. But while paying off debt is a good thing, it may lower your credit score if it changes your credit mix, credit utilization or average account age.

How much will my credit score go up if I pay off a collection? ›

VantageScore® 3.0 and 4.0, the most recent versions of scoring software from the national credit bureaus' joint score-development venture, ignore all paid collections and all medical collections, whether paid or unpaid. As a result, those accounts will not affect your VantageScore.

How to go from 500 credit score to 700? ›

6 easy tips to help raise your credit score
  1. Make your payments on time. ...
  2. Set up autopay or calendar reminders. ...
  3. Don't open too many accounts at once. ...
  4. Get credit for paying monthly utility and cell phone bills on time. ...
  5. Request a credit report and dispute any credit report errors. ...
  6. Pay attention to your credit utilization rate.

How long does it take to go from 540 credit score to 700? ›

The time it takes to increase a credit score from 500 to 700 might range from a few months to a few years. Your credit score will increase based on your spending pattern and repayment history. If you do not have a credit card yet, you have a chance to build your credit score.

How long does it take to get a 700 credit score from 550? ›

It can take 12 to 18+ months to build your credit from 500 to 700. The exact timing depends on which types of negative marks are dragging down your score and the steps you take to improve your credit going forward.

How long does it take to build credit to $700? ›

Starting with zero credit history, you can establish credit in as little as six months. Achieving a "good" credit score of 700 or better usually requires making timely payments for at least 18 months to two years, but it's possible to find shortcuts.

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