farrah asked in Business & FinanceCredit · 2 months ago

Will my credit score improve?

I have 11 closed accounts reporting on my credit report and it shows all 0 balances. My credit score use to be a 700 but now it’s a 571 and it been like 571 for close to a year smh 

because I check on credit karma. I don’t know if it’s higher elsewhere. I filed chapter 13 bankruptcy in 2019 and I believe that is what hurted me. I’m so very sad 😢 will my credit score back up in a couple of months or do I have to wait 7 years for it to increase. I’m looking to get my first apartment in Charlotte, NC. I make around $20 an hr. I want rent around &

$900-$1000. Would my current credit score of 571 affect me from getting an apartment or would I just have to pay the deposit and 1st months rent to put down? I do have the money saved up. I’m looking to move around June so I will start to apply in May. 

4 Answers

  • 1 month ago

    Yes, the bankruptcy is the issue.  

  • n2mama
    Lv 7
    2 months ago

    Do you have any open credit accounts that you make regular on time payments on? If you don’t have anything positive on your credit report, only the closed accounts and bankruptcy, it’s going to take a long time for your score to recover. Your ability to rent an apartment may be impacted by your credit score. Do you have previous rental history, and was it good rental history where you paid on time every month? If you’ve never rented before, your credit score may have a bigger impact on your ability to rent a place. Keep saving up, you almost always need a deposit and first months rent to move into an apartment, depending on the landlord you also may need last months rent or a bigger deposit because of your situation.

  • 2 months ago

    The credit score that you see on Credit Karma would not affect whether you can get an apartment, or anything else.  Credit Karma makes up its own scores which are used only on Credit Karma, and nowhere else in the world.

    One of your other credit scores would affect whether you can get an apartment -- but not the score that is Credit Karma.

  • Anonymous
    2 months ago

    Your score will slowly improve if you have any remaining credit and use it responsibly. A discover secured card is a good option if you don't have a card.

    Yes a 571 could keep you from getting an apartment. But they may go on your prior rental history & payments.

    Its not going to jump back to 700 anytime soon but as time goes by the bankruptcy will hurt less & less.

    The credit karma score is fine for 99.99% of people. No need to pay or obsess over a REAL score.

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