New Visitor
Posts: 4
Registered: ‎05-19-2010

Significant Credit Card Payment

I made an $8,000.00 payment to a credit card on 4/28/10.  I expected at the least an alert from my FICO Scorewatch about a balance reduction.  I also expected a bump in credit score as the payment resulted in reducing my percentage of debt on the card from above 50% of credit limit to below 25%.  What is the timeframe in which this type of credit card payment is postively realized?  30 days, 60 days, 90 days???  Since I made the payment almost 45 days ago, there has been no change to my report. Thank you for any insight

Frequent Contributor
Posts: 371
Registered: ‎12-28-2007

Re: Significant Credit Card Payment

I think it is checked  at least every couple of weeks.  I just paid off my card this month and the credit card had a statement. I  paid off  BoA $5,000 and I only got only lousy point up - from 672 to 673..... very frustrating...... but it had the balance updated when  I  clicked the more+ button next to the update it showed a 0 balance.  Maybe something else is offsetting your score that might be  the reason you aren't seeing anything.  Also, what are your settings at using  SW.  Use your existing score, like 672 and then put your settings to alert you at 673....


Hope that helps.

05/12: approx 680 across the board
04/08 EQ: 730 TU: 748 EX: 718
03/08: EQ: 713 TU: ? EX: ?
12/07: EQ: 689 TU: 711 EX: 721
New Contributor
Posts: 59
Registered: ‎08-29-2009

Re: Significant Credit Card Payment

Assuming the card reports monthly, you should have noticed the difference by now.

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
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+