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@dstew201 wrote:
... To update the CRA info (Amex, cap1, etc...)?!? The balances that are showing are $&@&ing up my UTIL%
Ooooh, but an inquiry is almost instantaneous!!! **bleep**?!
I'll second this with another question. Is this more on the CC companies, the bureaus, or a combination of both? When I frequently check my reports it seems 99% of the time EX is the most current (in reporting) and TU and EQ are often 2 months behind.
Can anyone expand on this?
I'm inclined to think this is more on the CCC's side...some like Barclays are known for inquiries and new accounts updating very quickly, while others (Amex, BoA as well IIRC) tend to take their time. I believe some companies even explicitly say that it can take a couple months for them to report to the bureaus.
@dstew201 wrote:
... To update the CRA info (Amex, cap1, etc...)?!? The balances that are showing are $&@&ing up my UTIL%
Ooooh, but an inquiry is almost instantaneous!!! **bleep**?!
Apples and oranges. As stated above, creditors typically report once a month on accounts. Make sure you're aware of the report dates for your accounts. Inquiries are reported as they are incurred and can be a red flag for excessive credit seeking behavior.
Why are you in a rush? The credit world moves slowly so adjust your expectations. Your utilization will adjust as your reports are updated. if you want to manage reported utilization you can pay down your balances prior to report date.
@Anonymous wrote:When I frequently check my reports it seems 99% of the time EX is the most current (in reporting) and TU and EQ are often 2 months behind.
Can anyone expand on this?
Theres's not much to expand. The CRA's each update on their own timelines. It's not unsual for them to vary. TU is the latest fo rmany but the order can and does vary from person to person.
Right now I'm in a bit of a pickle... my score has tanked (slightly) due to my UTIL % not being accurate..
A Cap1 card that I had transferred a balance from and closed is still showing the balance and open
WHILE
My Discover card is showing the transferred balance, so essentially it shows the balance twice... Hopefully none of my other creditors detects this UTIL % increase and performs an AA!
@dstew201 wrote:Right now I'm in a bit of a pickle... my score has tanked (slightly) due to my UTIL % not being accurate..
A Cap1 card that I had transferred a balance from and closed is still showing the balance and open
WHILE
My Discover card is showing the transferred balance, so essentially it shows the balance twice... Hopefully none of my other creditors detects this UTIL % increase and performs an AA!
Best thing to do is not worry about it. Fear of AA is way overblown here. Even you admitted your score only dropped slightly.