I just paid down my Discover card, resulting in less than 10% util across the board. My statement closing date was July 11--anyone have any idea when TU and EQ will update? I haven't gotten anything on scorewatch or quarterly monitoring, and I'm uber impatient because I am planning to apply for a car loan through a credit union this week...my score went up 12 points just by paying down 20% of my balance, and I want to see what kind of jump I will get going from 66% total util to 10% total util...
Discover will typically start updating with the CRAs within a couple of days of the statement date. IME, EX updated first followed by EQ then TU, sometimes up to 2-3-4 days after EX. YMMV of course.
SW doesn't alert to dropped balances; only alerts to balance increases. However, if your target score within your SW setting is hit or surpassed as a result of the paydown, then you could get a score alert. Your EQ FICO is only monitored weekly for these type of alerts. If your CC started updating let's say the 12th or 13th, then I bet by the 20th you'll get the alert provided that your target score is hit or surpassed (assuming nothing else changes on your CR...and assuming your paydown resulted in a change in FICO).
TUQM doesn't alert for any balance changes, and only provides quarterly monitoring for your TU FICO.
Discover reports for my the day after my statement closes. I haven't seen any delays with any of the CRAs. My statement closes the 17th for example, and if I check my reports on the 18th, all 3 show the new balances, etc.
You can also just contact Discover's customer service and they can do a manual update for you, I've had them do mid-cycle updates sometimes for random things.
Thanks...I just had an inquiry yesterday on SW from opening a savings account I opened Monday with a CU to establish membership for my future auto loan...am still waiting to see that score bump though...it's been 5 working days since the statement closed an no change...I can't imagine going from 66% overall util to 10% wouldn't affect it somehow!
Patience is a virtue, right??