myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Will Credit Cards report payments early?

tag
Get Access Now
BigSnacks
Valued Member
‎07-21-2014 07:57 PM
‎07-21-2014 07:57 PM

Will Credit Cards report payments early?

I increased my credit card utilization to nearly 90% and owed 30k.  I am using personal cards for my business.  Had the debt on the cards for about 45 daus and before having any interest hit my cards I paid them off in full.  

 

My credit tanked from 700 to 637!!!  I couldnt believe it

 

Now that my credit cards are paid off I found a house that I want to buy and need to get qualified for a mortgage.

 

Can I ask the credit cards to report asap?  How long will it take my score to rebound?

 

Thanks  Smiley Very Happy

B of A Cash Rewards $40,000 | AMEX BCE $30,000 | Chase Freedom $11,500 | Lowe's $8,500 | B of A Small Business Cash Rewards $7,500 | Discover IT $7,000 | First Community Credit Union $5,000
Message 1 of 4
0 Kudos
3 REPLIES 3
MT936
Established Contributor
‎07-21-2014 08:48 PM
‎07-21-2014 08:48 PM

Re: Will Credit Cards report payments early?

Once the paid off balances get reported and your utilzation % goes down with the reported payments, your score will skyrocket right away

Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 2 of 4
0 Kudos
BigSnacks
Valued Member
‎07-21-2014 09:05 PM
‎07-21-2014 09:05 PM

Re: Will Credit Cards report payments early?

Can I expedite this process?  Or am I at the mercy of the credit card minions that do this.

B of A Cash Rewards $40,000 | AMEX BCE $30,000 | Chase Freedom $11,500 | Lowe's $8,500 | B of A Small Business Cash Rewards $7,500 | Discover IT $7,000 | First Community Credit Union $5,000
Message 3 of 4
0 Kudos
MT936
Established Contributor
‎07-21-2014 09:43 PM
‎07-21-2014 09:43 PM

Re: Will Credit Cards report payments early?

I don't think I've heard of anyone doing this but it can't hurt to ask just explain the situation
Amex Blue Cash Everyday: $25,000 | Navy FCU Cash Rewards: $25,000 | Discover It: $20,500
Chase Freedom: $12,500 | Citi Double Cash: $10,000 | Bank of America Cash Rewards: $8,000

Message 4 of 4
0 Kudos
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.