cancel
Showing results for 
Search instead for 
Did you mean: 

Rapid Rescore Results

Highlighted
New Visitor

Rapid Rescore Results

So, my lender pulled my credit scores and according to CK my scores were 641 so I thought well it might be close but I should not have a problem with my scores. Unfortunately,  according to the official scoring models used by my lender that was not the case. The lender stated my median FICO score was 602.. I recently was charged a 90 day late with FedLoans (another story/another day) and I had no idea.

 

I had never heard of Rapid Rescore but she said it could raise my FICO score enough to get approved for the loan. I was very skeptical after reading all the forums. So, I have a CC with a balance of 7,500 (9300 limit) and another credit card with 1100.00 (3000 limit) on their balances. I paid down the Visa to 30% of the credit line, paid off the 1100.00 for the exception of 100.00. I left a small balance on that card to show utilization. 

 

My husband has some cards strictly in his name and I have some cards strictly in my name. Considering all of the cards were in good credit standing, I called all the card companies (4) and asked if I was an authorized user. I am a user on all the cards. According to the credit card company, being that my husband has a good credit history with the CC, that would also be reported on my scores because I am an authorized user.  So, I charged 100.00 on one card, left a 100.00 balance on another, charged 25.00 on Home depot card and did NOT close any cards out. I made sure all of these charges were well below the 30% line of credit. 

 

We have no charge offs or collections so that is not an issue, it was just the credit cards. I also asked the credit cards to send over a new balance to the credit bureaus because we were planning on doing a rapid re-score. Last week, I patiently waited and sure enough, my scores went from 602median to a median 656. I was pleasantly surprised. 

I called my lender and he pulled my scores from his system, the FICO model 2,4 and 5 were EXACTLY the same numbers that my lender pulled. So, this is my story......it does work if you do it properly. 

 

2/8/2017 EF 597, TU 609 EX 602

2/20/2017 EF 696 TU 680 EX 656

Message 1 of 7
6 REPLIES 6
Highlighted
Super Contributor

Re: Rapid Rescore Results

i have been doing rapid rescores for over 10 years.

 

always accurate. always works.   UNLESS something else changes on the report. i actually had a guy take a cash advance off one card to pay another.... and the card he got the advance from updated by the time the rescore was done.

we had a little chat after that. LOL

 

Retired Lender
Message 2 of 7
Highlighted
Established Member

Re: Rapid Rescore Results

Message 3 of 7
Highlighted
Valued Contributor

Re: Rapid Rescore Results


@emferrari wrote:


Hi Emferrari,

That's not true. A normal rapid re-score will be done in 3-5 business. I can also do a rush & get it done in 24 hrs.

VA Mortgage Expert. Mortgage Banker lending in All 50 States.
VA, FHA, USDA. Jumbo, Conventional.
CAIVRS Expert.
Message 4 of 7
Highlighted
Established Member

Re: Rapid Rescore Results

Wanted to come back here and inform that the rapid re-score has not yet arrived for 2 lenders. For one lender it did arrive and it only increased my score by 5 points, which was quite surprising. The negative remarks are gone, I have no new remarks and no new debt. Why such a small increase in score? Any ideas?

Message 5 of 7
Highlighted
Valued Member

Re: Rapid Rescore Results


@DallasLoanGuy wrote:

i have been doing rapid rescores for over 10 years.

 

always accurate. always works.   UNLESS something else changes on the report. i actually had a guy take a cash advance off one card to pay another.... and the card he got the advance from updated by the time the rescore was done.

we had a little chat after that. LOL

 


Can an individual request a Rapid Rescore or is that something that has to be done by loan officers etc?

Message 6 of 7
Highlighted
Valued Member

Re: Rapid Rescore Results

Hi VAloan master:

 

..... I can also do a rush & get it done in 24 hrs.oan master: 

 

I am one point shy on my TU mortgage score of a loan, per yesterdays report.  I paid off my credit cards this morning,  a few thousand dollars, leaving just 50 dollars on one. I also did that the last day of the month, so not sure how much paying them off would help.  The FICO simulator had me owning $1,500 and no change if I paid it off.

Any suggestions for a very rapid rescore? Where to go/do? I was going to put an offer on a house this morning when I got the newsSmiley Sad

Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.