@Anonymous wrote:
How much a difference is it going to make to apply for a new card right after I pay off this monthly balance?
How much of a change would that make to individual and overall revolving utilization?
@Anonymous wrote:
i.e., does the FICO score get updated daily when they pull a credit report?
The scoring model considers whatever data is in the report when the score is generated. Scores are generated on a constant basis. They're generated when requested. Don't conflate report and score. They are not the same thing. A report pull doesn't necessarily mean that a score was generated. However, generation of a score requires report data.
Creditors typically report once a month. While most report on statement date, not all do. You should be aware of when your accounts report. You can call your creditors to verify. You can look at prior threads and your statements to see if your creditor reports on statement date or on a fixed day of the month.
Also keep in mind that when a creditor reports and when a CRA updates are not the same thing. It typically takes a CRA several business days to update. Until the creditor has done so, the updated balance will not be reflected on the report.
