Is raising a 560 to at least a 700 possible with 2 years of time after bad credit decisions?
Hey CRedit I recently took up taking responsibility for my credit health and raised my 440 to a 560(trans union fico) by negotiating and paying down collections within a period of 7 months. I know at some point my score is going to start plateauing but is getting a 700 possible in a 2 year time frame. The reason I set this as my goal is because I will be separating from the army at that time and would like to purchase a home to rent out(like a lot of my peers are doing) and wanted to take advantage of the lowest rate home loan I could get.
Anyway the stats currently bring me down
5 missed payments from student loans(back to current because I am back in school and making payments on them)
1 closed credit card in collection for 1500( planning on paying it off during tax refund dispute did not work)
1 repossession (3 years ago) with a balance of 2300$ left
And for what I have going for me
2 secured credit cards 200$ limit each Keeping balance under 5%
And a credit builder loan that will go on for 2 years a 25% a month.
Any suggestions to keep raising my score?
Posted Jun 4, 2020, 11:30 PM UTC