How long does it take to raise 10 points on your credit score?

[Anonymous]

My discover card sends me my credit score monthly and my latest statement said 710. I so desperately want to get it to 720 or higher. How long will that take me? I do have about 30K in CC debt but I have stopped using them completely and am paying them down as quickly as I can. My Mint goal has me paying them off within 1 1/2 years.

I don't have anything in collections (or had anything in the past 10 years).

Any advice on how long 10 points typically takes or other tips on getting it higher are greatly appreciated!

[Anonymous]

Apply for credit increases on the accounts with balances. Within 3 months your score should go up. Get the largest increases you can qualify for.

[Anonymous]

Anonymous wrote:Apply for credit increases on the accounts with balances. Within 3 months your score should go up. Get the largest increases you can qualify for.

Is this really true? I always thought tons of credit wasn't good?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Apply for credit increases on the accounts with balances. Within 3 months your score should go up. Get the largest increases you can qualify for.

Is this really true? I always thought tons of credit wasn't good?

Let me google that for you.

http://www.myfico.com/CreditEducation/articles/

[Anonymous]

Do not close any of your accounts as you pay them off. Your credit score is affected by the ratio of used credit to available credit (i.e. your credit limit on a revolving line of credit). This has never made a lot of sense to me for several reasons.

1. They use your credit to determine what your credit line should be (initial and for increases).
2. If you use your increased credit line, it will lower your credit score.
3. If you apply for new credit, it will negatively impact your credit score. And I believe applying for credit and being denied also lowers your score.

Good for you in paying down your debt. See if you can skim anywhere else and add more to your monthly payments.