topic Re: Will creditors report early if you ask them? in Understanding FICO® Scoring

Will creditors report early if you ask them?

Anonymous — Sat, 11 Sep 2010 00:26:43 GMT

What's the chance that I can get my credit card company to update my credit bureau report early? I am going to pay down my balances. I'm trying to increase my score quickly to ensure that I don't fall off the 620 ledge when my mortgage lender pulls my credit. My EQ is right at 620. I'm so scared.

Also, I have Scorewatch. How often can I expect to get an alert? If my score drops, its supposed to tell me right away right? Or is there a delay?

Thanks!!

Re: Will creditors report early if you ask them?

chasmith — Sat, 11 Sep 2010 00:32:33 GMT

I've heard of people getting a "rapid rescore" through their mortgage broker. I've got no personal experience with this, and there are undoubtedly scams out there you want to avoid. But take a look at this:

http://www.associatedcontent.com/article/9133/increase_your_credit_score_in_days.html?cat=3

Re: Will creditors report early if you ask them?

haulingthescoreup — Sat, 11 Sep 2010 00:39:36 GMT

Hi, welcome to the forums!

If you're willing to pay for it, there's something called "Rapid Rescore." You will have to get it through your mortgage lender, though.

Do you know the dates that your statements update, for each account? That's usually when new balances are transmitted to the credit bureaus, which then need to post them. If you have statements ready to post (drop, etc.) in the next few days, it's not worth it. But if it will be another 4 weeks, it might be.

For info on how Scorewatch alerts, read this: Score Watch Guide

eta: got distracted while posting, and chasmith beat me to it.

Re: Will creditors report early if you ask them?

laz98 — Sat, 11 Sep 2010 01:50:47 GMT

i asked capital one about this, & they sent me some nonsense response that had nothing to do with what i asked. so i just disputed with the CRA's as "incorrect balance" & voila! they were updated by the next day, except for TU, which lagged by a couple days.

Re: Will creditors report early if you ask them?

Anonymous — Sat, 11 Sep 2010 01:55:27 GMT

That's a good idea. I may try that! LOL. This credit stuff can be so convoluted. I love all the knowledge that comes from these boards. THANK YOU ALL!

Re: Will creditors report early if you ask them?

Anonymous — Sat, 11 Sep 2010 02:14:08 GMT

Beware of unintended consequences when disputing the balance of a positive TL....Sometimes they just remove the entire TL.

Re: Will creditors report early if you ask them?

laz98 — Sat, 11 Sep 2010 02:15:28 GMT

even if it's open???

Re: Will creditors report early if you ask them?

haulingthescoreup — Sat, 11 Sep 2010 03:47:34 GMT

@laz98 wrote:
even if it's open???

Disputing anything on a closed account is a great way to see it completely vanish, history and all. But you should be OK with an open account.

OP, try disputing only on EQ. If you have to do this again, and you've disputed once already on EX, they're apt to label you a "frivolous disputer" and simply refuse to investigate. (Found this out the hard way when I had a store card that would never update back to $0. )

Re: Will creditors report early if you ask them?

cascade159 — Sun, 12 Sep 2010 22:15:00 GMT

In the past I've had luck disputing the balance of an open account... but YMMV.