Paid off credit cards-how long before it shows up on ScoreWatch?

[Anonymous]

It should flag on ScoreWatch as my score used to go down when my balances went up on these cards.  I wasn't sure how often the credit card companies update to the CRAs and was hoping they update "good" info as quickly as they update "bad" info.  Thanks for any help or information!

[Anonymous]

All of my credit cards update monthly. It depends on the date that your CCC report to the bureau. You can call them and ask them.

I have TC and I check them at the end of the month because that is when all of my cards should have reported. TC also let you know the exact date (in most cases) that your CCC reports.

[MidnightVoice]

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mom0718 wrote:

  I  was hoping they update "good" info as quickly as they update "bad" info. 

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Ban news I am afraid

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TheNewWorldMan wrote:
Remember that credit bureaus use different methods to receive and process good versus bad credit information.

Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...

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[Anonymous]

Isn't that the truth!

[Anonymous]

I know when my cc's report to my credit reports but sometimes it can take up to two weeks from it showing up on my report until my score to goes up.  When a cc reports with the balance increasing I get an instant score alert with it dropping.  Doesn't make sense.  For example my BofA credit card reported my balance (that I paid down in half) on 10-21, but my score is still the same.  When I called Equifax about this they told me that Fair Issac recalculates the scores twice a month and I just need to let it cycle out.  Funny how fast it can work against us and how slowly it helps us.

[majesty]

Amen to the above.....

Every unfavorable transaction seems to negatively affect scores instantaneously however it takes a month for positive info to affect the scores...LOL

[haulingthescoreup]

@MidnightVoice wrote:

Ban news I am afraid

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@Anonymous wrote:

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans ...

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We really need to de-moderator-fy TNWM. Things just aren't the same around here since he got respectable!

[MidnightVoice]

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haulingthescoreup wrote:

We really need to de-moderator-fy TNWM. Things just aren't the same around here since he got respectable!

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I miss the OldNewWorldMan.    He has been corrupted by the system and put on Lithium 

[haulingthescoreup]

MidnightVoice wrote:

I miss the OldNewWorldMan.    He has been corrupted by the system and put on Lithium 

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Sold out to the Man!

[Anonymous]

WOW-
Calling the New World Man out.

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@haulingthescoreup wrote:

@MidnightVoice wrote:

I miss the OldNewWorldMan. He has been corrupted by the system and put on Lithium

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Sold out to the Man!

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