Does your credit score drop as fast as it takes to increase?
It seems that somebody could pay on time and have a good score but run into some difficulties there score drops like ball and then they play hell too earn it back.
It seems that somebody could pay on time and have a good score but run into some difficulties there score drops like ball and then they play hell too earn it back.
BobWang
Favorite Answer
FICO can drop MUCH faster than it rises.
Swagg
yes and no... It depends on what you do to raise or lower it. Save 1000 dollars and purchase a CD something like a year CD. Have the bank put the interest in a money market account so it generates interest. After purchasing the CD pull a loan out for the 1000 dollars and put it in a account with the same bank using the CD as collateral. Do this for the rest of your life even if you don't need to pull a loan out. your score will shoot up in approximately 3 years very nicely... as long as you pay all your bills on time...
Anonymous
You got that right!!!