I sold my house at a huge profit and paid off some serious debt to eight different credit cards. For the longest time I had nightmares about the money I owed to credit cards, so as you would expect I was so happy to be debt free after sending in payment in full to eight different credit cards.
Though I did not feel debt free until my three credit reports showed a $0 Balance. I was told that would take some time. I got restless and decided to stick my neck out and call the customer service number of all eight of the credit cards I paid off to $0 and see if they could do a rush report to the three credit reporting agencies.
My first call was to the nice folks at CitiBank for my ATT Universal Card. I was so happy to hear someone with a mIdwestern accent on the line. I thought I can work with this woman. She told me she was in South Dakota. I told her my situation and she looked into it and said, YES, it can be done. They could do a special request to the three credit reporting agencies in two business days. She said normally it would be done at the statement closing date which was three weeks away. I told her I could not wait because I needed great credit to rent an nice apartment. I checked three days later and the ATT Universal CC Account showed a $0 balance in all three credit reports. SUCCESS!!
My next call was to American Express. I had always thought that they were the best credit card company out there. My closing date for American Express would not happen until January 20th and I had paid them a very large amount of money to bring the account to a $0 balance. The lady on the phone from American Express was friendly but told me this could not be done. I would have to wait until 1/20/2013 for my account payoff to be reported to the three credit bureaus. I told her I was surprised that CitiCorp could help me but not American Express. She said sorry about ten times but could not help me.
I then called the other six credit cards I had paid off and mostly talked to people in India who said sorry a lot but no, no, no. They could not request a special update to the three credit bureaus and I would have to wait till various dates in late January to get my credit updated at the end of the billing cycle. I begged and complained but got no where.
I have already been turned down at two apartments because I owe too much money on my credit cards. I tell them the credit reports they are looking at is out of date but they just smile and look embarrassed.
What do you think of my story?
It's not unusual for creditors to decline to do an out of cycle update. Also, many CSRs don't even understand what you are asking them to do when you call to request it.
I agree with Guiness that you should be able to provide documentation for your payments, and explain that your credit file will be updated to reflect it in a few weeks.
They told me that they only go with what is in the credit report and don't trust any document that is handed to them, like a credit card statement, because it could be doctored.