Alright... So, I've been working on credit for a while....very few lates in the past few years. One, in fact. Three mortgages on CRs, two closed...never late on any. Had scores in the high 500s/low 600s on all three. Utilization level was around 96%...we tend to have a few cards with small limits (around 2000 each or so) use them for purchases and pay them off over time. So....realized this is what's dragging them down. Now...Christmas bonus time....so we paid down (not quite off...left about $100 or so on each one) the cards. But I've noticed from my reports that most of the cards and such are pretty slow at reporting. Reports pulled mid-December all have last updates in October. So, we want to get a HELOC soon, so how do I "force" reporting on all these newly paid down cards so that my scores will improve? aiki
You can call the cc company and ask them to update their listing or dispute balance with the CRA. The second is risky because if your cc does not respond, you could lose a positive TL.
You can get your bank or whoever is doing your loan to do what's called a rapid rescore. It does cost money to get it done though. But, if you're in a hurry, might be your best bet. Byteme
