How Long Does It Take to Get Credit From 600 to 700? A Detailed Guide

Improving your credit score from fair to good can seem like a daunting task. Many people wonder, how long does it take to get your credit score from 600 to 700? The truth is, there is no one-size-fits-all answer The timeline depends on your specific credit situation and how diligently you work on boosting your score

In this comprehensive guide, we’ll break down what goes into your credit score, steps you can take to increase it, and provide a realistic timeframe for seeing your score improve from 600 to 700. Let’s get started!

What Factors Make Up Your Credit Score?

It’s important to know what makes up your credit score before we talk about how to raise it from 600 to 700. FICO is the most common model used to score credit, and it looks at these five main things:

• (35% of the total) Payment history: how often and how much you pay your bills. Late payments can significantly lower your score.

• Amounts owed (30%): This is also known as the credit utilization ratio, and keeping your balances low compared to your credit limits is good for your score.

• Length of credit history (15%) – The longer your positive credit history, the better.

• Ten percent of new credit comes from opening multiple new accounts in a short amount of time, which can hurt your score.

• Credit mix (10%) – Having different types of credit (credit cards, loans, etc.) can help your score.

As you can see, payment history and credit utilization have the greatest effect on your overall credit score. Focusing on these areas will give you the most bang for your buck.

Realistic Timeline to Boost From 600 to 700

Now, let’s get into the meat of things – just how long does it take to go from a starting score of 600 to the goal of 700?

The honest truth is that it typically takes about 12-24 months of diligent work to boost your score by 100 points or more.

However, every situation is different based on your specific credit report and score breakdown. Many factors influence how quickly you can improve your credit:

• Where you’re starting – Closer to 600 or 650? The lower you start, the longer it may take.

• Negative marks – Late payments hurt more than high balances. Resolving errors helps too.

• Credit history – A short credit history will take longer to build up.

• Your habits – Responsible habits like paying on time accelerate your progress.

While raising your score by 100 points won’t happen overnight, you absolutely can do it within two years or less by adopting positive credit habits.

Step-by-Step Game Plan for Increasing Your Credit

Ready to roll up your sleeves and get to work? Here is a step-by-step guide to boost your credit from 600 to 700:

1. Review Your Credit Reports

The first step is to check your credit reports from Experian, Equifax, and Transunion. You can access free reports annually at annualcreditreport.com.

Reviewing your reports helps you:

• Identify and dispute any errors – incorrect info drags your score down.
• See all open accounts and recent activity – this gives you the full picture.
• Check for fraud or identity theft – catch problems before further damage occurs.

Correcting errors and removing fraudulent accounts can give your score an immediate boost.

2. Pay All Bills On Time, Every Time

One of the quickest ways to tank your credit score is paying bills late. Payment history is 35% of your FICO score, so this is priority number one.

• Set up autopay or calendar reminders to avoid late fees.
• Pay at least the minimum due, but pay in full if possible.
• If money is tight, contact creditors to negotiate payments.

Even if you have late payments already on your report, showing a consistent history of on-time payments will steadily rebuild your credit.

3. Lower Your Credit Utilization

After payment history, your credit utilization ratio has the biggest impact on your score. This measures how much of your available credit you are using.

• Experts recommend keeping utilization below 30%, with lower being better.
• On individual cards, aim for less than 10% utilization if possible.
• Pay down balances aggressively by paying more than the minimum due.
• Consider doing a balance transfer to a low or 0% APR card.

Lowering your utilization takes discipline, but it can significantly boost your score over time.

4. Don’t Close Old Credit Accounts

While you don’t need to actively use all your credit cards, avoid closing your oldest accounts if possible. The length of your credit history is 15% of your FICO score, so keeping your longest-running accounts open preserves that record.

For accounts you want to stop using:

• Charge a small purchase every 6-12 months to keep the account active.
• Set up autopay to pay it off in full each month.
• Cut up the physical card if needed to avoid temptation to rack up debt.

Building long-standing positive history will help counteract any newer negative marks.

5. Apply for New Credit Selectively

It can be tempting to open a bunch of new credit accounts to give your credit availability a quick boost. However, each application triggers a hard inquiry, which can ding your score a few points. Too many new accounts at once also lowers your average account age.

Be strategic when applying for new credit:

• Space out applications by 6-12 months to avoid raising red flags.
• Consider adding yourself as an authorized user on a spouse or family member’s old account instead.
• If you do apply for new credit, ensure you can manage the account responsibly.

Slow and steady adding of new credit wins the race.

6. Monitor Your Credit Regularly

Checking your credit reports and scores from all three bureaus once every three to six months is essential. As you implement positive credit habits, monitoring allows you to:

• Verify your score is trending in the right direction.
• Stay vigilant for any errors or fraudulent activity.
• Adjust your game plan if progress stalls.

Often, the last 20 or 30 points can be the hardest to build. Regular monitoring keeps you focused and motivated.

Maintaining Good Credit Habits

Congratulations, you’ve now crossed the 700 mark! Don’t let your hard work go to waste. Here are some tips for maintaining your excellent credit:

• Continue paying all bills on time, every time.
• Keep credit utilization at 30% or lower.
• Don’t apply for unnecessary new credit frequently.
• Set a calendar reminder to check your credit reports quarterly.
• Create a system to stay organized with payments and credit account management.

Healthy credit habits like these will help ensure your score stays comfortably above the 700 mark and allows you to qualify for great rates for mortgages, auto loans, and more.

Bottom Line

Improving your credit from fair or mediocre to good takes time and discipline. But with consistent effort, it is possible to go from a starting score of 600 to 700 in about one to two years.

The most important factors are paying bills on time, lowering your credit utilization, and letting negative marks fade into the past while adding new positive information. Adopting long-term habits and tracking your score along the way will get you to your goal before you know it.

With a score above 700, you gain access to better loan rates, credit card offers, rental terms, and insurance premiums. The benefits of joining the “700 Club” make all your hard work worth it!