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How long does it take to increase credit score from 650 to more than 700?

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My daughter is planning to buy a home and her friends have suggested her to increase her credit score to 700 before looking for a mortgage. Presently, her credit score is around 650. She has checked from the 3 credit bureaus - Experian, Equifax and TransUnion. Can anyone please guide how to increase score to 700 in few months and what moves to take?

Make her an authorized user of your credit cards. Make sure you choose the oldest credit card with with highest credit limit. This may help.

Sub: #1 posted on Thu, 11/24/2016 - 20:34

ditchdebt ditchdebt

(Posts: 679 | Credits: )

Hi, you and she; both need to plan her next financial steps so that her credit will grow easily.

First, if she has student loan, she need to put it on automatic payments. It'll help her to avoid any late payment.
Secondly, if you have old credit cards with good payment history, add her as an authorized user of the oldest card with high credit limits.
Third, if she has old debts (less than 24 months old) with collections, ask her to pay directly to the creditor.
Also, suggest her not to apply for too much new credit, it may hurt her score.

Hope that'll help!

Sub: #2 posted on Wed, 11/30/2016 - 05:10

tiarajoseph11 tiarajoseph11

(Posts: 467 | Credits: )

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