How Do You Get Your Credit Rating Updated As Quickly As Possible?

People who are planning to apply for a loan may want to increase their credit scores quickly before submitting the application to help get a lower interest rate. Depending on your situation, you have a few options for how to get your credit rating updated as quickly as possible. Rapid rescoring can update your score within three days, but it works only for people who are applying for a mortgage and meet certain conditions. If you are not eligible for rapid rescoring, use other techniques to update your credit rating within a month.

Instructions

Rapid Rescoring

1

Obtain a copy of your credit report from the Annual Credit Report website (see Resources) and look over it for errors. An example of an error is a credit card account that states it is 90 days past due when you have paid all the bills on time.

2

Ask the lender you are working with if it can get rapid rescoring for you, which will usually be able to clear the error and update your rating within 72 hours.

3

Give your lender proof of the error, such as a letter from the creditor acknowledging the problem. If you do not currently have proof, the rapid rescoring service can sometimes obtain this information directly from the creditor.

Other Techniques

4

Pay down as much credit card debt as possible to increase your credit score the next time the credit card company reports to the credit bureaus. According to Experian, credit card companies typically update the balance with the credit bureau at the end of the billing cycle, which will be within one month of when you make the payment.

5

Call your lender and ask for a goodwill adjustment if you have a late payment on your credit report. The lender might be willing to remove the late payment from your payment record, especially if you have otherwise been a good customer and paid your bills on time. Again, this will increase your credit score within one month.

6

Call the credit reporting bureaus if you find errors on your credit report and get information about what documentation you need to send and where to send it to have the error removed and update your score. This process usually takes at least one month.