I paid down all my credit cards. What can I do to get my scores to reflect the new balances?
If you are not in a hurry, all you need to do is wait. Your credit card companies will report your new balances to the bureaus in the normal course of business. Normally it takes between 45 and 60 days for the new balances to report. If you are concerned you can also call your credit card companies and ask them when they send updated balance information to the bureaus.
In a Hurry? Try Rapid Rescore
On the other hand, if you are in a hurry, there is a credit repair tool you can use to force the bureaus to update you balances in the next few days; the tool is called Rapid Rescore. Unfortunately, Rapid Rescore is only available through mortgage originators. You do not really have to be getting a mortgage, but you need a mortgage broker or loan officer to do the job for you.
The Mortgage Connection
If you have a friend in the business you may want to ask them, or if you plan to get a mortgage in the near or even intermediate term, there is no harm in having a mortgage broker review your case today. Once you have built the relationship a bit you may ask them if they would order the Rapid Rescore for you.
Send Us Balance Letters
As a third option, if you are in our credit repair program, and are able to get balance letters from your credit card companies, we will be happy to send them to the credit bureaus for you along with a request to update the balances. This will not be as quick as Rapid Rescore, but it might accelerate the process.