How long does it take to improve your credit score?

The duration required to improve your credit score varies depending on the factors that caused your score to be low initially. If your credit score is low due to a short credit history or being new to building credit, the process of improving your score can be quicker and easier. However, if your score is low because of missed payments, it may take longer to rebuild your score as missed payments remain on your credit report for a certain period, even after you have settled your debts. Opening new lines of credit can have a negative impact on your credit score as it affects the average length of your credit history and results in hard inquiries.

Improving your credit score necessitates consistent efforts, such as making timely bill payments and keeping your credit accounts active for as long as possible. It’s also important to review your credit report regularly to identify and correct any errors, as they can contribute to a lower score. Additionally, having a diverse range of credit accounts, such as auto loans, mortgages, and credit cards, instead of solely relying on credit cards, can positively impact your credit mix, which accounts for 10% of your FICO® Score.