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What is Rapid Rescore?

Good morning,

There are many ways to increase your credit scores and one of the fastest is a process called “Rapid Rescore”.  This process originated in the mortgage industry decades ago and is still being used to a limited extent.

 

Rapid Rescore is actually misleading, the process doesn’t re-calculate your credit scores, it adjusts account information so that when a credit report is pulled it generates a higher credit score.

An example of this would be a credit card balance update.  If your credit card balances are reporting to the credit bureaus higher than 30% of the limit, it’s lowering your scores.  So when you pay down your card, a Rapid Rescore would update that balance in a few days.  Once the balance is updated at the credit bureaus, and you re-pull a credit report, the lower utilization percentage on the revolving account raises your credit scores.

Another example would be the deletion of a negative item such as a collection account.  When a collection account is either updated to show paid or even better, deleted.  It can have a very large positive impact to your credit scores.  At time of payment of the collection, it’s always good practice to request a deletion of the collection.  Some collection companies will do this for you.  If so, ask for a letter stating this.  With this letter the collection account can be removed from your credit report (never to return) with a Rapid Rescore.  It can take up to 3 months for the collection company to remove.

So as you can see, a Rapid Rescore can make changes to account information at the credit bureaus in a short amount of time to raise your credit scores.

 

Here’s a master list of our most popular Rapid Rescore requests:

  • Updating credit card balances when paid down
  • Removing collection accounts or updating to show paid, $0 past due
  • Removing late payments reporting in error
  • Removing IRS tax liens once paid (IRS allows the removal now)
  • Removing Authorized User accounts

If you would like a free consultation on how you can successfully raise your credit scores in just days, feel free to contact my office direct.

 

Jason Hall

Certified Credit Expert

RapidRescoreCredit.com

Rapid Rescore Credit On Facebook

Rapid Rescore Credit On LinkedIn

Direct- 949.505.9971

Mobile- 808.633.5023

Fax- 866.567.8054

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