"Those are the ones that are not only rate-sensitive but time-sensitive."Here are five things you should know about the art of the rapid rescore.Your credit score is a sensitive number – three digits that can move up or down on any given day depending on how the information in your credit report changes.
And if you need your credit score to increase so you can get approved for a loan or get a better interest rate, you're probably eager to see improvement soon.
The information on the report includes your credit score, payment history and other information drawn from a wide variety of sources.
Court judgments are also listed on your credit report.
Your credit report holds information relating to your credit history and it helps credit providers, such as banks, financial lenders, telco and utility companies, get a clear picture of your credit worthiness when you make an application for a loan or credit contract.
When getting a mortgage, "rapid rescore" is a phrase worth knowing. Bottom line: It’s a practice used by mortgage originators to help lift credit scores.
It also contains credit history information, including: If you fail to make payments on credit such as a car loan or mortgage and the lender takes actions to seize the assets, those may appear as well.