Rapid Rescore

Home » Uncategorized » Scoring on a date.

Scoring on a date.


No, not getting lucky on a date.  It’s your credit score and how it’s effected by a reporting date of your accounts.

The reporting date is the last time your creditor or collection has sent data to the credit bureaus.  This could be a payment, balance, or status update.  The more recent the update, the bigger impact on your credit scores.

So if you’re trying to figure out which collection account to settle first, take a look at the reporting date. If it’s recent, start there.  As payment will not lower your scores as it’s updated.  It’s the older collections that haven’t updated in a long time, those will lower your scores once paid as they’ve not updated recently.  When they do, the scoring models will view this is as a “fresh collection” which will lower your scores.


1 Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: