It's smart to ask, 'Who pays?'
Can a consumer be charged for a rapid rescore? That depends on who you ask.
Federal law gives consumers the right to dispute information with the credit bureaus and a dispute "must be investigated at no charge to the consumer," says Katrina Blodgett, a staff attorney for the Federal Trade Commission. But that same law sets out a timeline for standard disputes that can take up to a month or more to investigate and resolve, she says.
Credit bureaus charge a nominal fee to lenders for rapid rescores. Often the lender absorbs the charge. Sometimes the lender passes the fee along to the consumer, Davidson says.
Experian prohibits its clients from charging consumers for rapid rescores, Sweet says.