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Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit score - how long before new score shows up

I didn't do the math from your existing scores, but it gives you a general idea. 

 

You are still getting dinged heavily at 30%, 30+ for many. Your goal is to edge out every point as possible and it might need micromanaging. Again, YMMV on your credit. I didn't study your thread but if you have time, pay the balances down then reevalulate. Pay down more as needed. You can certainly get a mortgage without hitting 740 though.

Established Member
tin369
Posts: 45
Registered: ‎11-18-2011
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Re: Credit score - how long before new score shows up

Yes, the reason for trying to get to 740 is to get a better rate for PMI. but if that means that I have to pay down CC completely I won't be able to do that.

 

Let's see hwo much of a chnage it will make with the payments I have made.

Established Member
tin369
Posts: 45
Registered: ‎11-18-2011
0

Re: Credit score - how long before new score shows up

ok, this morning i got an alert and it seems my score dropped from 693 to 686. why?

 

Is paying off also effect in a score dropping? Can someone please tell me what I nee dto do to bring it above 720 in the next 2-3 months.

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit score - how long before new score shows up


tin369 wrote:

ok, this morning i got an alert and it seems my score dropped from 693 to 686. why?


Did your alert give a reason?

Established Member
sid369
Posts: 16
Registered: ‎06-09-2010
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Re: Credit score - how long before new score shows up

sorry this it waht it says -

 

Your FICO® score went down on a day when there were no credit alerts on your Equifax Credit Report™. This can happen if:          

  • There was a change on your credit report that lowered your score but did not trigger an alert. For example, the balance on an account might have increased enough to lower your score, but not enough to trigger a balance increase alert.
  • You moved from one category of credit users to another as time passed. For example, you may have transitioned from the category "consumers with a new credit history" to the category "consumers with a two- to five-year credit history". As a result, your credit report is evaluated differently, causing a slight change in your score. The good news is that moving between categories like this usually offers you the potential to reach a higher FICO® score in the future.
Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit score - how long before new score shows up

Looks like it's a score alert. It's not giving you any specific reason. If I had to guess, I'd guess utilization changes. Seven points isn't too much, but I would look for any balance increase that didn't trigger a SW alert. Even adding $1 on a $0-balanced CC can result in a score drop by that much, in some situations. 

Established Member
tin369
Posts: 45
Registered: ‎11-18-2011
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Re: Credit score - how long before new score shows up

I paid down a few cards last month before the statement date, but I am not seeing any alert of the score going up. I was at around 7% or more utilozation and after paying itshoudl be under 30% but why am I not seeing any chnages.

 

Would it take more time before the CC reports the balances?

 

Usually the credit karma account also reflects the changes, but thats also not reflecting the payments and new utilizations.

 

Is it after 1 month of payment that the scores get updated?

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Credit score - how long before new score shows up


tin369 wrote:

I paid down a few cards last month before the statement date, but I am not seeing any alert of the score going up. I was at around 7% or more utilozation and after paying itshoudl be under 30% but why am I not seeing any chnages.

 

Would it take more time before the CC reports the balances?

 

Usually the credit karma account also reflects the changes, but thats also not reflecting the payments and new utilizations.

 

Is it after 1 month of payment that the scores get updated?


CCs mostly report the balance you had on the statement date and will report that within 2-3-4-5 days from that statement date. YMMV on the CC as to when it updates. I'd suggest looking in your statements to see what the balance is and that's the balance that'll report.

Established Member
tin369
Posts: 45
Registered: ‎11-18-2011
0

Re: Credit score - how long before new score shows up

Ok i got a scor watch alert showing that my score went up frm 692 to 716. How can I now go above the 720 mark.

 

As I beleive that the lenders will take the middle score, and I beleive the EQ is usually the lowest? correct?


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