Experian rapid rescore?

Anonymous — Fri, 08 Aug 2014 22:27:04 GMT

Does anyone know the correct number for this? I was able to get right through to the other CRA and I cannot seem to find anything online to point me in the right direction.

Thanks

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Re: Experian rapid rescore?

Anonymous — Tue, 19 Aug 2014 18:05:05 GMT

I have the same question? Does anyone have a number for Experian Customer Service.. I've tried a few numbers, but can't get through

Re: Experian rapid rescore?

fused — Tue, 19 Aug 2014 23:22:02 GMT

A rapid rescore is done by your mortgage lender. Consumers cannot get one by themselves. You might be better served to have this thread moved to the Mortgage Forum.

Re: Experian rapid rescore?

Anonymous — Wed, 20 Aug 2014 12:10:01 GMT

My mortgage broker doesn't offer rapid rescore, but I have read posts where people have been able to do it themselves. I called Transunion and they said they would help me. The person I reached at equifax knew less than I did about credit scores, so I'll hVe to call back. And I can't get a live person at experian

Re: Experian rapid rescore?

fused — Thu, 21 Aug 2014 02:07:52 GMT

I misspoke. I wonder when this changed.

Re: Experian rapid rescore?

Anonymous — Thu, 21 Aug 2014 16:29:41 GMT

Well, here is what I can add to everything to muddy up the water a bit more.

So you can in a way recore things yourself. You just need to have a current balance letter from the creditor and then send it in to the respective CRA's with the normal requested info and a letter stating you would like the new balance reflected. However.........

EX took it as a dispute and it immediately showed up as so and I had to contact each creditor directly and ask them to reply to the dispute immediately so that not only would the correct balances show, but the dispute closed.

TU somehow actually removed my AMEX and Discover completely from my credit file. I thought it was maybe an issue with CK, so I popped into TU and did the $1.00 trial thing and sure enough, my two oldest cards were gone, and the AMEX had the highest CL of anything I have. So the TU score took a hit from that and temporarily erased whatever increase I was hoping to get from paying the AMEX from $24.5k to $9k and the Discover from $6.1k to $500.00. The service people were no help. The one guy actually said "ooooooooooooooooooh I see here this was a blanace update request, how odd that it was removed from your file. Well, we only house the data the issuers report, so you must do the needful and call the cards back and make sure they report your accounts to TU". The solution to that was to do the same thing, call the creditors and make sure they are reporting and Discover, AMEX, BB Jewelers all did a in-cycle update to the accounts for me, just as fused suggested.

EQ actually got it right. They took the info and adjusted the balances correctly on the accounts they reported.

From this I learned that you have a high percentage of this being considered a dispute and causing one billing cycle worth of damage to your score/file. You may then have disputes on your credit file which I'm sure most of you know puts the mortgage process to a halt.

There are companies that do this still. However it seems they pretty much do the same thing but attempt to put a "rush" on the request to get it done in 5 to 7 days. The cost is anywhere from $35 per bureau per item, to a flat fee of $99 per bureau. None of them guarantee that the service will do anything to increase your score.

In the end, I believe fused's advice is the most accurate. The ease as to how quickly AMEX/Discover/BB offered or agree to do something in-cycle seems to suggest that is the better way to go. In fact, Discover said they would do it at any time to help a customer blah blah blah. To get the original letter from AMEX, it took just over 7 days compared to an immediate email or account download from the others. On certian cards, like ones issued from Comenity, they do not allow direct contact with that department from the consumer. They require a written request which may take up to 30 days to answer, which in all likelyhood your new balance will be reported by the time you get a response.

The advice?

Do it yourself first by calling the companies directly per fused's advice. On the ones you cannot do this, get a updated account balance statement on the creditor's letterhead and then either contact the CRA yourself to send in the info, or use a rescore service if available. In either case of the last two, make dam sure they know this is for a balance update only. Even with that, the CRA seems to handle it however they seem fit, so it might end up as a dispute regardless.

Or watch the reporting dates, make sure the payment is in on time and at the very worst, wait one billing cycle.

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