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Do credit card settlements impact my credit score? If yes, then how much does it affect and for how

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The answer to your query depends on the other loans history for you before the settlement.

It is also dependent on how much time you took to settle off the account after being marked as non-performing. If you currently do have active loans that you are servicing, and if you do not miss any payments, then it will probably take 8-12 months for your credit score to be back up to a decent level. If you possess a credit card, then you should also use it very wisely and make full payments on time. Never use more than 50% of your credit limit until it is absolutely necessary. If you currently do not have a credit card, then you should get a secured credit card against a fixed deposit and use it wisely. This will help you in getting get your score back up a little faster..

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