Posted on: 13th Feb, 2012 02:49 am
My loan officer is doing a rapid rescore and results will be in tomorrow and we will find out if we can qualify for a loan! I thought I was doing the right thing by paying my cars. Capital one just reported at $0 and my score shot up 15 points. However, I have other cards and I don’t those will report by tomorrow (statement closing date) but I am an AU on 2 cards with a balance. So it this going to hurt me or help me? What can I do? Is there anything at all that I can charge that will post by tomorrow?!
As far as I know, FICO doesn't distinguish between your AU and non-AU accounts. Your score will remain the same regardless of which account the balance is on.
Hi Sarah!
Welcome to forums!
Rapid re-score will help you in improve your score quickly, by correcting negative items. With rapid rescore, things such as charge offs and collections can be corrected. If you pay off a balance on a credit card that can also be taken into account, and can improve your score. Rather than worrying, I will suggest you to wait till the lender finally completes the rapid re-scoring.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Rapid re-score will help you in improve your score quickly, by correcting negative items. With rapid rescore, things such as charge offs and collections can be corrected. If you pay off a balance on a credit card that can also be taken into account, and can improve your score. Rather than worrying, I will suggest you to wait till the lender finally completes the rapid re-scoring.
Feel free to ask if you've further queries.
Sussane
Credit Scores are determined by credit history, so if you donot have a score it is worse then if you do have a low one.
:idea:
:idea:
The short answer is that it depends. If you find your loan within 14 days, your credit score will probably be safe. Depending on the lender, that time could increase to as much as 45 days. :idea: