Raise Your Credit Score: How to Raise Your Credit Score By 20-80 Points in 48 Hours Guaranteed
As I built up my reputation in the credit repair industry, I eventually began to learn different kinds of tricks. Writing dispute letters had become second nature to me, as had following up and using the law to my own advantage to force the credit bureaus to remove negative information they were unable to document from my report. Even with all this experience though, I would still stumble upon single techniques so powerful from time to time, that it's hard to believe they exist. Rapid Re-scoring is one of these procedures, and if you've ever wondered how to raise your credit score, it could be something for you.
So what is rapid re-scoring? Well, it originated in the mortgage lending business. In times past, it used to be common practice for your home lender to actually update account information for your credit report in just a few days in order to boost your scores. Sometimes this service is still offered in the mortgage business in a more limited form. Also, since there have been a lot of regulation changes, not all lenders still choose to offer these services. If your lender doesn't offer them though, you aren't out of luck. What you will need to do instead is to call all your creditors and ask them for a letter stating what needs to be updated. The technical term for this is requesting a "balance letter". You should also call any collection accounts you had and ask them for a "deletion letter". The last part of the document package you need to assemble are "payment history letters" in order to remove late payment information from your report. Next, you take all this to a company who offers the rapid re-score service, and for a small fee they will perform the re-scoring service for you. If you've ever wondered how to raise your credit score, this is one of the most efficient ways to do so that I've ever seen.
Within a few days, the information should be updated with all 3 credit bureaus, which can increase your score by more than you might think. It's incredibly easy to gain at least 20-80 points, and gains of 100-200 are not entirely out of the question. This is because of what the rapid re-score procedure affects. You see, the information that is updated includes your payment history (up to 35% of your FICO score), and your revolving credit balance (up to 30% of your FICO score). These scoring components are affected because of the types of accounts that can be rapidly re-scored. They are credit card balances, collection accounts, and inactive accounts. For the most part they are self-explanatory, but in general you want to make sure to keep your total debt percentage low, under 30% of your total limit. You also want to receive deletion letters in return for reconciling with collection companies, which can have a huge impact on your FICO as well. Finally, make sure to activate (or remove) any accounts reporting as inactive, by using them for a quick purchase prior to your re-scoring. If you've ever wanted to know one of the absolute best techniques for how to raise your credit score, this is it!