If I pay off will creditors report early

Submitted by Anonymous (not verified) on Sat, 09/11/2010 - 06:12
Forums
Credit repair

Hi all,

I am going to pay down my balances. Do I have the chance to get my credit card company to update my credit bureau report early? If I request them, will they do it?Actually I'm trying to increase my score quickly to ensure that I don't fall off the 620 ledge when my mortgage lender pulls my credit. My Equifax is right at 625. I'm so scared.

Also, I have Scorewatch. If my score drops, is it supposed to tell me right away? Or will there be a delay?

Thanks!!

Aaron

Hi Licia,

There is a thing called Rapid Rescoring. Actually there are some companies that help you in rapid increase of your score by negotiating with the credit bureaus. However, there are many scam companies in the market. Moreover, in most cases only the mortgage company can have access to Rapid Rescoring companies. But I don't know about credit cards.

If you create a score alert, the latest score is always shown on the alert. However, a balance decrease will not trigger any score alert. One more thing is that sometimes your score alert may arrive late in case there is a delay in reporting.

Thanks,

Aaron

Sat, 09/11/2010 - 07:39 Permalink