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I need to increase my FICO score from a 685 to 700 to qualify for a mortgage. I recently paid down my 2 credit cards and I decreased me revolving credit card debt from 86% to 36% uti. My mortgage broker is doing a repaid rescore on Monday to see if this will increase my score by 15 points. I have an excellent re-payment history and 3 installment loans that I always pay on time (2 are student loans). Do you think this is going to work?
I am really nervous!!
I think you'll get your 15 points and more. You should be good to go.
Rapid rescores are companies that have special deals with the credit bureaus. You generally can only approach them through a mortgage company or other lender. They can get your score changed within a few days if you've got a confirmed error or if you can prove that you just paid down (or off) a credit card.
http://www.bcsalliance.com/credit_rapidrescoring.html
This is a duplicate posting that has been posted on a few different forums.
I am locking this thread and all off the duplicates, except for 1.
Please see http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=34796
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