When do CRA's update?

[Duncanrr]

So I'm just farming and waiting for some things to drop/be removed. Do CRA's update their scores after each payment, ie end of billing cycle, or at end of month/week/etc? My SL are due 1st and 15th, car is 16th and credit cards are due 21st and 27th. Mortgage doesn't report. Just trying to get idea when I can expect score movement if all things are equal other than me adding another month of on time payments.

[rootpooty]

subscribing

[Duncanrr]

Any idea when the updates occur?

[rckstrscott]

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@Duncanrr wrote:
Any idea when the updates occur?

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The CRAs have nothing do with scores.

Scoring is formulamatic, based on what is currently showing on your report. A snapshot.

You score changes when information that is factored into the algorithm changes... The CRAs update when furnisher providing the information gives them updated information..

in short, you score will update the moment the furnisher provides an update that impacts scoring, and it is showing on your report. There is no specific time they update.

-scott

[llecs]

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@Duncanrr wrote:
So I'm just farming and waiting for some things to drop/be removed. Do CRA's update their scores after each payment, ie end of billing cycle, or at end of month/week/etc? My SL are due 1st and 15th, car is 16th and credit cards are due 21st and 27th. Mortgage doesn't report. Just trying to get idea when I can expect score movement if all things are equal other than me adding another month of on time payments.

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FICO scores are calculated at the exact moment the new CR is pulled. The FICO scores are calculated based on the exact info reporting on that CR at that moment. Maybe the question should be: "When do CRs update?". They update when info gets reported to them by your creditors. Working backwards even more, the question should then be, "When do creditors update?". They generally update the balance you had on the statement date. So, if you have a Chase CC for example and the statement date is the 20th, then typically 1-2 days later (22nd) they'll start reporting. EX tends to be the fastest in updating followed by EQ and TU. So, if you have a statement that cuts on the 20th, then starting the 22nd-25th, give or take, your CRs will have updated. Once they update and a lender or you purchase a new FICO, then the FICO change is immediate.

You can cheat and look at your CRs. There's a field called "Reported date". Seems like one or more of the 3 CRAs gives an exact reported date ,but that's generally 1-2 days after your statement date.

Also know that you really don't gain points by paying on time. Once everything has settled, and nothing is being added or removed, you can go months without a FICO change even with ontime payments w/ a constant util. You should see DW's SW graph. Flatlined for months. Now you could see some changes, with everything else being equal, when AAoA changes, accounts hit birthdays (esp. at 1 yr), baddies age, new account dings go away, etc.

Of course the above applies with FICO. FAKOs are different. Not all services update FAKOs regularly because they only update weekly, monthly, quarterly, etc. And some FAKOs claim to update daily and I know they don't. I'm convinced that PLUS FAKOs are like that. I've had major baddies added/removed without a hint of change on the FAKO, but always followed by a major score change several days later.

[2NE1]

Actually there is a specific time CRAs update your reports. Every CC balance that you do not PIF before statement cut will be reported/reflected on your CR and won't change till next month's update. So if you want your CC balance to reflect $0 on your CC you gotta PIF before statement cut date... Otherwise you'd have to request an off-cycle update in order for $0 amount to be reported on your CR.

ETA: Yes what @llecs says

[Duncanrr]

Thanks for educating me   Appreciated.