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Question By
joyful4ever

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Is it possible to increase a credit score by about 100 in less than 30 days?
After escrow closes on our house in a few days, we will be paying off 95% of our debt -- leaving just one or two open with small balances.

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Top Contributor
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12 People Helped

Yup

Helpful to 9 out of 10 people

Yes, it is possible. Source: I went from 567 - 702 from March 2016 to April 2016 (Experian FICO Risk Model v2 - used for Mortgages). It went down after my car loan, but a couple months later, it's good at 709. If your debt is in collections, you can contact the collection agencies after you pay it off, and see if they're able to remove it from your credit report. If they can't, you can always dispute it with the credit bureaus after you pay it, and they may remove it. If they remove it, before your credit report is pulled, your points should increase dramatically. As far as your debt being in active credit cards/car or student loans, paying off those balances completely would increase your score, but not 100 points in 30 days. 

PS: My situation may be different, because I had a wrongful debt that was taken off. A great transunion representative, also helped - she took 2 derogatory accts that were about to come off my credit (7 years) completely off my record 6 months early after advising her I was trying to get a car loan. I also had a public record and a debt I paid off removed. I believe I disputed it a or credit bureau phone rep helped me with that... I dont remember, but...

Moral of the story: It all depends how bad you want to make it happen! 

Reply by
arealtyone

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3 People Helped
Helpful to 3 out of 3 people

How did you get ahold of this amazing credit bureau rep to help you?

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6 People Helped

Helpful to 6 out of 7 people

you can. i went from a 502 to 675 in one month just by being added as a authrozed user on 2 credit cards. and i only have one negative thing for 390 but im about to take care of that asap/

Reply by
SeanTimmyTurner

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3 People Helped
Helpful to 3 out of 4 people

I'm looking into this route, my g/f has excellent credit and we are trying to rebuild mine. Were the credit cards you were added to under the 30% of usage when u were added?

Reply by
fuzyfixr

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Helpful to 0 out of 1 people

Authorized user?? I'm having a hard time finding a credit card that will approve me and my score is 555.  Any help would be greatly appreciated.  Thanks

3 Contributions
20 People Helped
Most Helpful Response

Try a rapid rescore

Helpful to 5 out of 5 people

Yes, You can ask for a rapid rescore after all is paid.

Reply by
vannadee

1 Contribution
6 People Helped
Helpful to 6 out of 7 people

who do you ask for a rapid rescore? and what exactly is a rapid rescore?

Top Contributor

Reply by
ladycredit1

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4 People Helped

For the person who wants to know: who do you ask for a rapid rescore?

I read that you can ask a mortgage lender/broker to put in the request. Instead of waiting 30 days for the credit bureau to recalculate your score as scheduled, you can have the recalculation of your score expedited (to reflect recent changes).

2 Contributions
3 People Helped

yes it is

Helpful to 3 out of 3 people

my score boosted in 7 days 148 points by paying off credit cards at once

1 Contribution
2 People Helped

YES IT CAN

Helpful to 2 out of 2 people

I paid 4 credit cards down between 60-25% and my score jumped up 71 points.

Top Contributor
25 Contributions
20 People Helped

Yes its possible

Helpful to 1 out of 1 people

If you have your cards maxed out and you pay them down to 10% utilization, I don't see why not. You may want to consult with someone about this, Creditmergency has a free consultation they can probably help you out 

1 Contribution
2 People Helped

Getting late payments removed

Helpful to 2 out of 3 people

I have a Victorias Secret Credit Card which I am in good standing with right now. I was 190 days past due. Do i request Comenity bank (VS debt collector) to remove the past due off my account or credit karma?

Reply by
lowelyf

4 Contributions
1 Person Helped
Helpful to 0 out of 1 people

Most likely if you are current now you cannot get the past due listing removed. If it was a collection agency and you paid the debt off you could ask to remove it. If it is late payments and you are now caught up and they are listed as late by the creditor(VS) unfortunately those will stay with your credit report for quite some time. Just keep making on time payments and your score with move up.

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To Joyful4ever

My daughter has been disabled for 6 years after completing two bachelor degrees. She was able to have her student loans discharged, since she lives on just her social security disability, and her credit score went up 92 pts. That's the highest increase I've personally known to happen; however, I can see that if you are paying off a mortgage and not purchasing another home nor have any other large debts (i.e., credit cards, revolving charges), your score could increase dramatically.

1 Contribution
1 Person Helped

Home Rental Credit Reporting

Helpful to 1 out of 3 people

Saw an advertisement for a company that for a nominal fee will verify on time home rental payments and post to the credit reporting agencies.  I don't know what the starting fee is, but it's $10 a month, and they will report up to 24 months.  Is there any real merit to this?  Is it a legitimate and good investment?  We are trying to build credit, and pay more in rent than what a house payment would be....we'd like to buy...but our credit isn't that great, but we are working hard to improve it.  Didn't know if this was something to do, or if it is legit credit building avenue.

Top Contributor
79 Contributions
147 People Helped
Helpful to 1 out of 1 people

I would google reviews on this company.  I have heard that "coming soon" will be agencies that do what you are talking about.   Google the name of the company and especially look for "consumer reviews".

2 Contributions
0 People Helped

Fuzyfixr and all else who need help

Helpful to 0 out of 1 people

While this is possible, it is not very likely. Credit is a slow process.

Fuzyfixr I want to help you, please contact me at my website http://www.RebuildRepairCredit.com/

Anyone else who needs free personal support feel free to contact me.

Love you all,

Joshua

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