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Established Contributor
EaglesFan2006
Posts: 544
Registered: ‎01-31-2008

When will big Util drop be noticed?

If you can drop your util from around 50% to under 5% in the same month, how long will it take for that to appear positive to a lender?  I know CCs update every month, but i'm not sure you need to have low util for multiple months in a row before any impact.  I would think not, but i'm not sure.  This is more a matter of curiousity than anything else.

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Moderator
guiness56
Posts: 22,408
Registered: ‎01-17-2008

Re: When will big Util drop be noticed?

As soon as that reduced utilization hits your CR your score will go up.  No waiting required.

Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013

Re: When will big Util drop be noticed?

     You have to wait til your credit card statement comes out for the current month. A couple days after that, credit cards usually report. As Guiness correctly said, the instant it report to the credit agency, your score will move. Just cause you make a payment, the card doesn't automatically report to the credit agency. Usually they report once a month at most.Note: If you pay your card down to a zero balance, it may not report at all that month. If it is important to you that it reports then leave at least one dollar on your statement to be sure a statement generates and it reports..

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