03-12-2010 05:53 AM
Good morning all,
Has anyone had an issue with Chase and/or Orchard banks not updating in a timely manor. I haven't had anything update to my reports since Jan,10th.
I noticed this on my CCT account and pulled my report and score from here to confirm. No updates.
Have a great Friday!
03-12-2010 08:42 AM
Chase updated my report last week too. Between the 6th[my statement date] and the 11th, so no more than 5 days later the CRB's had updated my report. Orchard is another story but from what i've read around here, the CRB's usually update for them around the 15th of the month since, Orchard doesn't report until the last business day of the month.
03-13-2010 07:11 PM
Unfortunately, the FCRA places no requirements on ":timely updating" to a CRA.
The FCRA does place the requirement that what a creditor reports must be accurate, but not upon how often they must update. They can choose to report monthly, quarterly, bi-annually, anuually, or to never report again.
That is a business decision of the creditor, and they pay the CRA to report under whatever their contract is with the CRA,
I know it is frustrating, but not something that is any violation on their part.
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