This is the absolute fastest way to correct errors on your credit
report and raise your credit score. However,Guest Posting it can only be done
through a mortgage company or a bank. If you apply for a home
loan and find errors on your credit report, request the loan
officer to conduct a Rapid Rescore. But don’t mistake it for the
credit clinic tactic of multiple dispute letters.
The Rapid Rescore strategy requires proper paperwork. You need
proof that the item is incorrect. It must come from the creditor
directly. For example, a cash discount merchant processing letter stating the account is not your
account, a letter stating the account was paid satisfactorily,
a release of lien, a satisfaction of judgment, a bankruptcy
discharge, a letter for deletion of collection account or any
This is the same documentation a bank or mortgage company would
require for the credit accounts anyways. The difference is, now
you can improve your credit score and receive a lower interest
rate. The results are not guaranteed and will run you about $50
2. Deleting Negative Credit
This is the infamous area where you’ve heard of all the scams.
Credit repair clinics charge “an arm and a leg” and promise a
clean credit report. Sometimes even a new credit profile! People
spending hundreds, or even thousands, of dollars for something
they can do themselves.
Removing errors is simple. Deleting negative credit that is
accurate requires advanced methods. But that is not the scope
of this report. So I’ll focus on the deleting the negative
Credit report errors easily disappear by using a simple dispute
letter. If you have the paperwork proving the error as mentioned
above in Rapid Rescore, send copies of that along with the
dispute letter. This will make the credit bureau’s job easier and
you will get faster results.
If you don’t have the documentation to prove the error(s), send
the dispute letter anyway. According to federal law, the credit
bureau’s have a “reasonable time” to validate your claim. They
will contact the creditor for verification of your dispute. Then
the account will be reported accurately – or deleted. It has been
generally accepted the “reasonable time” to complete this task is
If you’re not the do-it-yourself kind of person. Or don’t have
the time. You could hire someone who is very economical.
3. PiggyBack Someone’s Credit
This is a fast and great little credit score booster. But it
requires a very trusting relationship. Simply put, someone else
adds you to their credit account. For example, when applying for
a credit card, you may have seen the section to add a card holder.
If your trusting person adds you, their payment history is now
reported on your credit report too. If they have perfect credit,
now you have a perfect account.
To make this more effective, use an aged account. Imagine if your
trusted person has a 10 year old credit card account with a
perfect payment history and a balance of only 50% of the credit
limit. Wouldn’t you love to have this on your credit report? The
easy part is your trusted person just calls the credit card
company and requests a form to add a cardholder. Once completed
and activated, their entire account history and future is now
firmly planted on your account. Imagine if you secured 3-5 of
these accounts – especially installment accounts. Your credit
score could sky-rocket!