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Do CC Companies update Experian first - or are EQ & TU slow to update?

Valued Contributor

Do CC Companies update Experian first - or are EQ & TU slow to update?

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.

 

 

 

Message 1 of 13
12 REPLIES
Super Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

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
Message 2 of 13
Senior Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

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.
Message 3 of 13
Senior Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

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.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
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09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 4 of 13
Senior Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?


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.

 

 


They run it like a business.

Message 5 of 13
Valued Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

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.
Message 6 of 13
Moderator Emerita

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?


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.

+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.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 13
Valued Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

 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)

 

 

Message 8 of 13
Senior Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?


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)

 

 


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

Message 9 of 13
Valued Contributor

Re: Do CC Companies update Experian first - or are EQ & TU slow to update?

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
Message 10 of 13