How quickly will your credit rating improve?

tickledpink1984

My last default is due to come off my report on the 14th February and I just wondered how quickly my credit rating would improve. I am looking to apply for a mortgage this year and just wondered when would be best to start applying?
Thanks

bottleofred

Hi tickledpink,

I'd be surprised if the default drops off on exactly the 14th February, but should be gone by the end of the month. You may be better getting a credit card after the default has gone and using it for small items and clearing it monthly to show a regular pattern. If however you decide not to do that, you should probably wait about 6 months or thereabouts, but evidence of repaying any kind of credit is always good.