How Long Does it Take to Rebuild Credit?

Good credit is often a requirement for making big purchases, such as a car. If you plan on financing your next vehicle but aren't sure if your credit score is good enough, there are things you can do to raise it. It may take time, but it will make your purchase much easier. We want you to make an informed purchasing decision, so here's some important credit information you need to know.

One of the most damaging things that can affect your credit score is a late payment. Multiple late payments or serious delinquencies have even bigger ramifications. If you're behind on bills, it's important to get caught up as soon as possible. Late payments can stay on your credit report for up to seven years. The good news is that those late payments will have a smaller effect on your score as time goes on.

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Categories: Finance