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Credit Yoda
Dud?


Joined: 20 Oct 2009
Posts: 13
Location: Nationwide

Need a quick 15 points?
PostPosted: Thu Mar 03, 2011 4:43 pm Reply with quoteBack to top

Loan officers:

Do you need some quick increases to your clients credit scores?

Here's a free tip, review the credit report and look in the DLA (date last active) column. If the credit card/store charge card hasn't been used in more than 12 months, there's your points you need.

Inactive accounts don't report to the score. Simply have the client make a small purchase, obtain a balance letter the next day, then rapid rescore that account.

That re-activated account is usually good for about 15 points to their scores.
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Credit Yoda
Dud?


Joined: 20 Oct 2009
Posts: 13
Location: Nationwide

Re: Need a quick 15 points?
PostPosted: Thu Mar 03, 2011 4:46 pm Reply with quoteBack to top

Credit Yoda wrote:
Loan officers:

Do you need some quick increases to your clients credit scores?

Here's a free tip, review the credit report and look in the DLA (date last active) column. If the credit card/store charge card hasn't been used in more than 12 months, there's your points you need.

Inactive accounts don't report to the score. Simply have the client make a small purchase, obtain a balance letter the next day, then rapid rescore that account.

That re-activated account is usually good for about 15 points to their scores.


This works for Jeweler store accounts (Zales, Kay, etc) as most people don't buy jewelry every year.
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