Generally speaking, the higher your credit score, the better off you are. But the recovery time from a missed payment or financial setback differs for everyone.
, according to FICO, a leading credit-scoring company. FICO scores range from 300 to 850.The best way to increase your credit score comes down to paying your bills on time or reducing your credit-card balance.
Such positive credit behaviors can start to improve your score as soon as a few billing cycles. "As a rule of thumb, you could see an appreciable difference in six months," said Ted Rossman, industry analyst at CreditCards.com.For example, "if a missed payment has dragged your score down, your score could rebound in a month or two, a series of late payments will take longer to make a full recovery," Griffin said.
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