@steely72 wrote:
I am applying for a home loan on Monday. My current TU Score is 643 and Equifax is 625. These scores are with a CC utilization of 74%. Knowing that I was going to be going in for this loan, I paid off my balance on March 12th and my CC due date was on March 16th. When I paid off my balance I asked the Credit Union that my credit card was through when they reported to the credit agencies. She told me that they report to the Credit agencies at the end of the billing cycle which she told me was March 22nd. I haven't received any score watch alerts yet so I just pulled my TU credit report. The report still shows 74% utilization on my CC. Does anybody know how long it takes for the Credit bureaus to update their information? Its in my best interest to wait for this to report before meeting with these loan officers but I don't want to wait until Monday and cancel at the last minute. Not quite sure what I should do.
I also have a judgement on my record which I paid off in November. After a few months of going back and forth and harrassing the collection agency for the necessary paperwork, I recieved the documents and filed them with the clerk of courts on February 28th. The judgement is still on my credit report. Does anybody know how long it takes for judgements to be removed and how much of an impact a judgement has on your score. The judgement is from 2008.
I have a house I am ready to buy and have an agreement with the owners. I would like to get my credit score as high as possible but I also can't wait too long because I don't want to lose the house. Any input anybody has on these matters would be greatly appreciated. I really enjoy reading these forums and find them very informative.
Hi Steely! I wouldn't worry too much about your CC balance. Your CU may report it today, but it will take a couple days for the CRAs to reflect this change. With my Capital One card, it usually happens like this: EX 2 days later, EX 4 days later, TU 5 days later. It varies a little bit, but that is about the average. My first statement for my new Chase Freedom card cut on the 20th and it just showed up on my EQ today but neither of the other two. Either way, it will likely show the new balance on all three within a week.
As far as the judgement, is this supposed to be removed for any reason other than you paid it? Judgements will generally stay on your credit report for 7 years, paid or not, unless it is vacated by the court. When you mention paperwork in February, were you getting the judgement vacated? If so, others with experience in that will be better with how to deal with it, but I would probably dispute with the CRAs. If it was just paid, and not vacated, it will not go off your credit report. Search the forums for info about getting judgements vacated. Lots of people here have had success with this.
Good luck with your house!
