01-29-2013 09:40 AM
Had a tradeline just get deleted about 48 hrs ago. Pulled my report and saw it was deleted. How long will it take Myfico to update my score?? Is this automatic or....
I want to know because I was waiting for this last tradeline to delete so I can apply for a mortgage! Any answers would be great appreciated!
01-29-2013 10:00 AM
Your FICO score generated without that tradeline in the report is updated. Think of it as a photograph. You do not have a record (FICO score) of the scene until you snap the picture. If the scene changes (accounts removed / added / balance updates etc.) then the new picture will be different from the old. A FICO score is an instant moment of what's there at that time. If something changes in the next hour or day the FICO score pulled would be different.
01-29-2013 10:07 AM
Perfect answer and explanation! Thanks so much
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO