Scheduled pre-approval with LO, quick question/concern for the members here...

[Anonymous]

I scheduled my appointment for March 12th (very excited/nervous)!

I paid off my capitol one credit card of $6100.00 a few weeks ago. I called them to see if they could notify the credit bureaus so my score/dti would improve for mortgage process. They told me I had to wait until my billing cycles ends (March 1st). They told me it will definitely be sent to bureaus by March 7th (a Monday). Do you think my credit reports will reflect the change by that Saturday (March 12th)? Thanks

[GirlMelanie89]

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@Anonymous wrote:

I scheduled my appointment for March 12th (very excited/nervous)!

I paid off my capitol one credit card of $6100.00 a few weeks ago. I called them to see if they could notify the credit bureaus so my score/dti would improve for mortgage process. They told me I had to wait until my billing cycles ends (March 1st). They told me it will definitely be sent to bureaus by March 7th (a Monday). Do you think my credit reports will reflect the change by that Saturday (March 12th)? Thanks

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YAYY!!! Congrats! I know you're excited!!! And I think you'll be ok. Cap1 is pretty good about reporting to the bureaus within 2-3 days. But after I talked to my LO yesterday, he said that it could also depend on when EX, EQ and TU pulls info from each bank for an update. I suggest pulling your own mortgage scores the day of or before so you can have an idea of where you stand and if they've updates accurately and on time. 

[Anonymous]

I have two CapOne cards (each have different billing cycles) and they report same time every month. I get notified by MyFico of changes to my report from both around the same time each month. You will be fine.