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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.
3 Answers
- 1 decade ago
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...
- Anonymous1 decade ago
You got that right!!!
