Article on "rapid rescoring"

Discussion in 'Credit Talk' started by Kat, Jul 16, 2001.

  1. Kat

    Kat Well-Known Member

  2. NanaC

    NanaC Well-Known Member

    Thank you for sharing such an interesting article!

    GEORGE Well-Known Member

    The result? Within five days, Phillips' FICO scores jumped 200 points --
    taking her from a 580 to a 780, and from a high-risk mortgage applicant to
    an A-plus creampuff.

  4. CCMax

    CCMax Active Member

    Does anyone have any idea about how much this type of service would cost? It seems like an alternative to fighting with lazy csrs at the bureaus to correct mistakes.

  5. chriscraft

    chriscraft Well-Known Member

    Wanting to learn more about this "re-scoring" concept, I located the phone number for the outfit that performs the service. For those who are interested, their name is AAA American Credit Bureau and their phone number is (520) 773-0070. I called them and was directed to a voice mailbox that the company had set up to handle all of the incoming calls generated by the newspaper article. I left a message this morning but have not heard back from them yet.

    I have no idea what their service entails, whether it is "real" or not, or anything else - this is certainly not a plug for their services - but I think it is worth at least a quick telephone call to find out what it is all about. The thought of getting cleanup work done "quickly" - no matter how insane that thought may be - is mighty attractive, and in my opinion, warrants the time for a telephone call.

    I'll let you all know what I find out...and anyone else who gets in touch with them should let us know, too.
  6. Nave

    Nave Well-Known Member

    I read that article and if I am not mistaken the company you are referring to did only this, (and I am not sure what they did beyond what Lex is doing with their premium services or even what we could do, with CreditExperts scoring simulator and disputing on our own).

    First they began disputing negative items on her report, then they offered a bit of advice for her to lower her HIGH balances which resulted in a quick jump in score. If I go to CreditExpert's score simulator, I can see the effect of lowering my balances...I could also see what removing the derogatory info would do (dispute and remove the negatives + lower the balances = better score, dramatically).

    So what is rapid rescoring other than a consultant who knows how the FICO models work and can work with you to get your reports better FICO scores? Even CreditExpert has that kind of advice for you. I am kind of confused...can anyone help me understand this. This board IS MY rapid rescoring service :)

  7. chriscraft

    chriscraft Well-Known Member

    Nave, the answer to the question you posed is exactly what I am trying to ascertain. Perhaps their re-scoring method only employs the tactics and tools we are already using, perhaps it doesn't. Maybe the company has individual contacts in the CRA's that help them expedite the disputes/removal process, who knows. That's what I want to find out. Like anything else that sounds really good, it may be too good to be true. As soon as I know, you all will know....

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