Credit Cards

[GregB]

I've noticed that EX, through CreditExpert.com is updating new CC info very fast.

My Discover statement closed yesterday, Sunday, Sept 27. My balance went from $0 to $6018. My EX report is already updated - in one day and for a statement that closed on a Sunday. No change on EQ or TU.

My BMW card was paid from $12150 to $0. Statement closed Sept 23. EX was updated the next day, Sept 24. EQ and TU are still not updated.

Very interesting.

[DI]

The Universal Data Form that creditors submit is a single click.  EX just so happens to update its data more hastily followed by TU and EQ eventually. Innovis may update its data before EQ does too. 

Message Edited by DI on 09-28-2009 10:32 AM

Message Edited by DI on 09-28-2009 10:32 AM

[creditwherecreditisdue]

Issuers transmit massive batches of data to the CRB's and I am sure the batches are sent to all CRB's at the same time. Some CRB's just update the batches to their databases a little faster than others. This is a very typical pattern.

[txjohn]

I have always had EX update within 24 hours of my statement cut, and generally within 12 hours.  The other 2 take a few days to a week or more.

[smallfry]

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txjohn wrote:

I have always had EX update within 24 hours of my statement cut, and generally within 12 hours.  The other 2 take a few days to a week or more.

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They run it like a business.

[GregB]

If I was running a lending business I would want to be sure that my potential customer's data was as current as possible. I would prefer Experian for that data.

[haulingthescoreup]

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GregB wrote:
If I was running a lending business I would want to be sure that my potential customer's data was as current as possible. I would prefer Experian for that data.

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+1

Experian annoys the heck out of me, as they continue their quest to take over the credit-reporting world, but their reports are stable (things don't mysteriously fall off), and they update promptly. If I were a potential creditor, I would pull Experian.

Note: soft inquiries do fall off early, as with the others. My assumption is that losing softs is how CRA's keep their data files from getting overloaded.

[casinoannie97]

 I find that Experian updates faster than the others.   Their score is always much higher.

EQ  698  (for a year or more)

TU  733

EX  770 (plus)

[creditwherecreditisdue]

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casinoannie97 wrote:

 I find that Experian updates faster than the others.   Their score is always much higher.

EQ  698  (for a year or more)

TU  733

EX  770 (plus)

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Not necessarily for all! (But they certainly aren't my lowest either!)

[casinoannie97]

I got a 9 pt increase on EX a couple of months ago.  They don't hold my BK against me as much.  EQ has stayed the same for over a year and is always the lowest score.  My BK falls off in Dec.

Message Edited by casinoannie97 on 09-29-2009 04:07 PM