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Regular Contributor
SportBike4Life
Posts: 123
Registered: ‎07-22-2012
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Question: Does your FICO score automatically update every month??

So I know that individual credit card companies have their own dates for when they report information to credit bureaus but does anyone know when exactly FICO updates scores based on changes in credit report information? Does your FICO score automatically update itself every month too?

Jun 2012 FICO® ~ 734 EQ
Sep 2012 FICO® ~ 684 EQ; 734 TU
Oct 2012 FICO® ~ TBA

Goal for 2014 ~760+

Trying to stay in the garden...but also trying to get as many apps as possible for now :smileywink:
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
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Re: Question: Does your FICO score automatically update every month??


SportBike4Life wrote:

So I know that individual credit card companies have their own dates for when they report information to credit bureaus but does anyone know when exactly FICO updates scores based on changes in credit report information? Does your FICO score automatically update itself every month too?


Your FICO score is a snapshot in time, kinda like a taken picture. It reflects what is on your report at the precise time the score is calculated. So, your FICO has the potential to change if that snapshot in time includes updated balance(s) by the CCs. In other words, your FICO score can change daily if you have daily changes happening to your CR(s). 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

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