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A bad credit score won't hold you back forever

How long will it take to improve a bad credit score?

Secured Loans > Our Loans > Bad Credit Loans > How long will it take to improve a bad credit score?

If your credit score needs improvement, it doesn’t always need to be a long road to recovery. 

Rebuilding your credit score can take time. However, there are ways you can begin improving your score today. 

Read our guide to discover how long it could take you to rebuild your credit score.

How long will it take to turn a bad credit score around?

When it comes to improving a bad credit score, there is no set time frame. It all depends on how badly your credit was affected, what you consider a “good” credit score to be, and how different credit agencies rank your score. 

For example, if your credit score is rated as “very poor” and you want to hit the “excellent” mark, it could take years to rebuild your credit and reach this point. However, if your credit score is just below “average”, you could potentially achieve an average credit score within a matter of months.

It also depends on the nature of your credit history. A one-off late repayment won’t have the same impact as a default or a CCJ on your credit file. Lenders will look at whether your repayment issues escalated, and this will affect how long it takes your credit score to bounce back.

Bad credit won’t always hold you back

If you’ve missed payments in the past, they will appear on your credit report and could negatively impact your credit score. However, they won’t hold you back forever. 

Issues like missed payments will be automatically cleared from your credit file following a period of six years. Similarly, CCJs and defaults will be removed from your file for six years after you’ve settled them. So, if you missed a repayment six years ago, lenders will no longer be able to see this on your report. Your credit report will effectively be wiped clear and you’ll start with a clean slate.

So will it take six years to improve my credit score?

No, you can start to improve your credit score today – even if previous issues still feature on your credit file. While it takes six years for any repayment or legal issues to be removed, that’s not to say your credit score won’t improve until then.

The more time that passes since you’ve dealt with any credit issues, the more likely it seems that you can handle repayments again. And if your mistake was more of an isolated incident than a repetitive pattern, lenders could be more likely to overlook it.


How can I improve my credit score sooner?

Signing up to vote can quickly boost your credit score. That’s because having your name on the electoral roll means lenders can easily confirm your identity when you apply for credit. Plus, if you’ve had the same address for three years or more, it can suggest your living situation is stable – something which is often viewed positively by lenders.

Another way to quickly improve your credit score is to use less of the credit that’s available to you. Lenders typically like to see you use around 25% or less of your combined credit limit. To do this, you could consider making overpayments on your credit card, or limiting your spending for a while. 

If you’re looking to improve your credit score sooner rather than later, these methods could help in a matter of weeks.

Improving your credit over time

Above anything else, lenders like to see a long-term pattern of responsible borrowing. It can take time to prove that your financial responsibility is a consistent habit. 

Many lenders like to see you manage a credit account for over a year without missing any repayments. The longer you keep your accounts open without any issues, the more stable you appear. Once you’ve shown you can consistently meet your repayments, your credit score should start to improve. 

Along with sticking to your repayments, it’s also good to keep your credit card spending low and avoid making lots of applications for credit. To help reduce your amount of applications, make sure you can check your eligibility before you apply.

Keep up with these good habits and your credit score should improve over time. The longer you stick to these habits, the better your credit score will be.

Helping you borrow with bad credit

Bad credit shouldn’t get in the way of finding a secured loan. At Evolution Money, we understand that your circumstances can change and your habits can improve –  even if your credit file isn’t perfect. With our lending criteria, you could still borrow up to £50,000.

Speak to our friendly advisers today and we’ll look past your credit score to find a loan that suits your circumstances. 

Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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Evolution Money,
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M1 3BE

Registered Company Number: 06987852

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Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 9 Portland Street, Manchester, M1 3BE. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

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