How can I refresh my reports/scores quickly after payments

[Whew]

Hello.  I recently removed all collection accounts via PFD's and I paid down all my credit cards to zero except one.  Left a 5.00 balance.  I'm attempting to purchase a new car and I want to improve my scores for a better interest rate.

I'll be partnering with NFCU for a car loan.  Has anyone provided a lender with payment receipts and asked them to refresh for new scores?

Thank you in advance for your help! 💜

[designated_knitter]

I know with mortgages, you can ask a lender to do something called a rapid rescore that will pick up new payment activity... perhaps something like that?

Good luck 

[Whew]

Thank you so much.

[Anonymous]

Do you use Credit Karma? If so, you'll see when the derogs are removed by checking your reports on there. That'll tell you when you're good to apply with respect to the PFDs. It'll also update you as your accounts update their balances. Remember that if you've paid off your cards but their statements haven't cut, pulling a new set of scores won't show the difference. You'll have to wait for statements to cut before the lenders update the bureaus, and only then will your scores change.

[SouthJamaica]

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@Whew wrote:

Hello.  I recently removed all collection accounts via PFD's and I paid down all my credit cards to zero except one.  Left a 5.00 balance.  I'm attempting to purchase a new car and I want to improve my scores for a better interest rate.

I'll be partnering with NFCU for a car loan.  Has anyone provided a lender with payment receipts and asked them to refresh for new scores?

Thank you in advance for your help! 💜

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Some lenders will accommodate you with an off-cycle report to the bureaus, some won't.

[Anonymous]

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@designated_knitter wrote:

I know with mortgages, you can ask a lender to do something called a rapid rescore that will pick up new payment activity... perhaps something like that?

Good luck 

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Either you can get an update with what @designated_knitter said or you might have to wait. Different credit bureaus report at different dates during the month so maybe refer to one that's the most up to date. Either way it seems to take time for any changes to be reflected. 

[Whew]

Thank you!