New Member
Posts: 2
Registered: ‎06-16-2008
rapid re-score shot my score up in 3 working days...
I would like to thank this forum as I learned a lot after reading through this forum for past 2 weeks. I am buying a home and after a meet with mortgage agent, I was surprised to see my scores: EQ: 679, EXP: 684 and TU: 699 as of 06/12/08. I had an old collection account and I had paid it off in full to the Medical Center (and not collection agency) long time ago. This collection account damaged my credit scores for good 3 years. But to get the best rate in market, I had to cross 700 so I contacted the Collection Agency and got a deletion letter! It was a smooth transaction for a change. With this letter, I got rapid re-scoring through my mortgage agent and guess what! My scores bumped up to : EQ: 756, EXP: 766, TU 774. (as of 06/18/08) Smiley Happy

Apart from this Collection Account, I never had any issues, no late payments, Util as low as 2% for past 6 months.

I verified on my fico that my scores are higher.. Do I still need to send the deletion letter along with photocopies of my ID and SSN to the 3 credit agencies in order to remove this collection account permanently? Or it's already taken care of through rapid re-scoring.

Are the effects of rapid rescoring permanent ones or just for the time being?

Also, I opened up a couple of credit lines within last 8 months which reduced average length of my credit history. I don't really use them so what will be the effect if I close them out?