Reply
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

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
Posts: 45
Registered: ‎11-18-2011
0

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
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
Posts: 32,869
Registered: ‎08-04-2007
0

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
Posts: 16
Registered: ‎06-09-2010
0

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
Posts: 32,869
Registered: ‎08-04-2007
0

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
Posts: 45
Registered: ‎11-18-2011
0

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
Posts: 32,869
Registered: ‎08-04-2007
0

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
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?

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.