08-19-2011 12:49 PM
How long does it usually take for a pay off to be reported on the CR? Trying to bring score up from 660 in hopes of an auto loan but slow reporting is making me anxious! Sure seemed like they reported when there were balances...! One is HSBC and the other is a local credit union.
08-19-2011 12:57 PM
It depends on the company. Typically, around the statement date. Some at the end of the month.
08-19-2011 01:40 PM
Depends on what date the statement cuts with the particular creditor (s) you paid off. Generally within a couple of days after statement date cycles, it will hit your reports with the balance reported.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO