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snu197
Posts: 1
Registered: ‎05-18-2009
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Requesting Credit Card Company Report My Score

Hi - I just paid off my credit card that was almost maxed out.  I am looking to take a loan for a house but need to make sure my credit card company (Discover) reports my balance to FICO so that my credit score raises.  What's the best for me to make sure that my new credit balance is reported right away?
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Requesting Credit Card Company Report My Score

Welcome to the forums!

 

Is your Discover cards from Discover Financial Services? When is the next statement date?

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LilMirth
Posts: 3,091
Registered: ‎08-09-2008
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Re: Requesting Credit Card Company Report My Score


snu197 wrote:
Hi - I just paid off my credit card that was almost maxed out.  I am looking to take a loan for a house but need to make sure my credit card company (Discover) reports my balance to FICO so that my credit score raises.  What's the best for me to make sure that my new credit balance is reported right away?

Just to offer a bit of clarification, your lenders don't provide information directly to Fair Isaac's. Your lenders report the credit reporting agencies (e.g. Transunion, Experian, Equifax, etc...). Your FICO score weighs & gives a score based the information in your credit report at any given time.

 

Typically, lenders update the credit reporting agencies once per month (that's not a hard and fast rule, just a norm). The previous poster, Creditwherecreditisdue, is asking when your statement date is, because it's very likely that the next update will be on or after your next statement date. Some lenders, however, report on a certain day of the month (the last day, for example), or a certain date (e.g. the 22nd of every month), but the most common seems to be the statement date.

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Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Requesting Credit Card Company Report My Score

In the normal course of affairs Discover cards (DFS issued!) report the statement balance the day after statement closes.
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GregB
Posts: 1,669
Registered: ‎05-24-2007
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Re: Requesting Credit Card Company Report My Score

My Discover reports the day after the statement date. EX reports that the next day, EQ up to a week after that, TU a bit over a week later.

 

You should wait 10 days after your statement date and then pay for your EQ and TU FICO on this site. You can pull an EX report before that if you want that info.

 

The mortgage company is going to pull all three, I believe.


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