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Rapid Rescore in progress, 4/7 can't get here soon enough!

hoosier812
Regular Contributor

Rapid Rescore in progress, 4/7 can't get here soon enough!

A rapid re-score was submitted by my mortgage banker yesterday and he said he would have a decision on pre-approval of USDA guaranteed loan on 4/7.

I only need 8 points to push my median score to above 640 or my lowest score to jump 31 points. The re-score was to update 2 charged off private student loans that were PIF. They have been reporting monthly since the charge-off.

No I'm only left with 2 small personal loan charge offs that are 2+ years old (not paid) and 1 other PIF charge-off that will be there for a while.

No lates for over 12 months and less than 10% total utilization on my revolving credit (1 card at 15-20% and 3 cards at 0%)

Man, this is nerve racking...

Message 1 of 4
3 REPLIES 3
Lemmus
Established Contributor

Re: Rapid Rescore in progress, 4/7 can't get here soon enough!

...cc utilization looks at both total cl and individual cls ...getting that one card under 10% would put you in the optimum cc utilization range and should be worth a few more points ...hth


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Message 2 of 4
DallasLoanGuy
Super Contributor

Re: Rapid Rescore in progress, 4/7 can't get here soon enough!


@Lemmus wrote:

...cc utilization looks at both total cl and individual cls ...getting that one card under 10% would put you in the optimum cc utilization range and should be worth a few more points ...hth


i believe this to be the truth as well from personal experience.

although i thought i read that fico looks at them alll together as totals

 

Retired Lender
Message 3 of 4
hoosier812
Regular Contributor

Re: Rapid Rescore in progress, 4/7 can't get here soon enough!

I couldn't take it anymore and updated my Transunion report on MYFICO and my mid score is now 646!!!!!!!

Only credit card with a balance is at 13% utilization. If CapOne reports before the 7th, the repull have it at 6% and that median score could go up even more!

I might stay off of the Internet for a few days, I don't need to read any USDA guaranteed horror stories..
Message 4 of 4
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