Mortgage Broker License Number: MB2709

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Does Making Payments Mean Credit Scores Will Increase?


“Hi Joe,
Our neighbor that lives next to us shared with us that you had assisted them with their credit and a now you are doing their mortgage. We want to buy as well!
My wife and I have very good income and also a lot of credit card debt. My mid credit score is 584 and my wife has a 601. The strange part is we pay all of our debt on time, but our scores don’t seem to improve. Can we set up an online call so that you can help us. We are sick of paying $1700 a month rent.”

Unfortunately, paying credit cards on time does not guarantee that credit scores will improve. If the payment doesn’t pay the balance down to one third of the high credit limit, the scores will NOT increase. And as credit card balances near the credit limit, the score will drop faster and faster.

Collections accounts normally report negative each month, which means the scores drop even faster.

Installment obligations like vehicle payments that are late lower the scores pretty quickly, and late mortgage payments do the most damage.

If I can assist you with your credit or debt, let me know!

Call (800) 822-7482 or

Right Trac Financial Group
110 Main Street
Manchester, CT 06042
Phone: (860) 647-7701

Right Trac Financial Group Trac Financial Group, Inc.
Mortgage Broker License Number: MB2709
Licensed in: Connecticut, Maine, Massachusetts, Florida, New York, Rhode Island, Vermont and Licensed by the New Hampshire Banking Department

Equal Housing Lender