Rapid rescoring is essentially exactly what it sounds like – a rapid way to modify your credit scores.
The process of rapid rescoring is used by mortgage lenders and brokers to help boost a borrower’s credit scores. This method can add some much-needed points to credit scores, well, rapidly.
Instead of taking months, with rapid rescore, errors such as charge offs, collections and judgements can be corrected in a matter of days.
The amount of improvement to your credit scores will vary based on the types of things being corrected, as well as the overall state of your credit. The difference can be a few points to a hundred points or more.
What Is A Rapid Rescore?
A rapid rescore is a method by which you can raise your credit score quickly by submitting proof of positive account changes to the three major credit bureaus. The process can lift your score by 100 points or more within days when erroneous or negative information is cleared from your credit profile.