Why does it seem to take so long for CRAs to report

[Anonymous]

I called HSBC this morning to ask when they ususally report to the CB and they said that they report the last day of the month.  If this is the case why does it take the CRAs so long to post.  Last month HSBC hit my report on 3/18/2010 when the reported on 2/27/2010.  Why cant the CRAs atleast post the information atleast 1-5 business days after the card companies report?  Is there anyway to expodite the process, I mean I don't want to muscle anyone, it just always seems that when you have corrected bad stuff on your cr, it takes forever for the change to happen, and when something bad happens to your cr, the results are almost sudden.  Maybe it is just the way I am perceiving things. 

Is there a way to speed up the process or am I just displaying wishful thinking by thinking that I can do so?

[MarineVietVet]

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@Anonymous wrote:

I called HSBC this morning to ask when they ususally report to the CB and they said that they report the last day of the month.  If this is the case why does it take the CRAs so long to post.  Last month HSBC hit my report on 3/18/2010 when the reported on 2/27/2010.  Why cant the CRAs atleast post the information atleast 1-5 business days after the card companies report?  Is there anyway to expodite the process, I mean I don't want to muscle anyone, it just always seems that when you have corrected bad stuff on your cr, it takes forever for the change to happen, and when something bad happens to your cr, the results are almost sudden.  Maybe it is just the way I am perceiving things. 

Is there a way to speed up the process (No) or am I just displaying wishful thinking by thinking that I can do so? (Yes)

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I'm just giving you a hard time.    It does seem like it takes forever when you're waiting on a change.

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

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[Anonymous]

No problem, i appreciate the humor.  Just anxious to see, if I get my eq score to the mid 600s to get the cu to get me some pretty decent int rates when I apply for an auto loan.

[Anonymous]

HSBC reports differently than most other creditors. Speculation is that they use funky old mainframes or some type of update that takes CRAs a lengthy time to assimilate their data. Plus, by updating once a month instead of daily, they are sending a huge chunk of data all at once. Their updates have posted "late" for years. And many customers don't know about the last-day-of-the-month reporting, and assume a "March" update should appear immediately after the March statement date, and so it seems to them that the delay is even longer than it actually is.

And, just because HSBC says they "report" on the last day of the month doesn't mean they actually transmit on that day. Sure, they date their reports as of the last day, but they could be shipping tapes via truck for all we know, or they could just be lying.

EX usually manages to get HSBC updates posted between the 7th and 10th of the following month, and based on EX's other behavior (they generally post most updates very promptly), I'm inclined to think that's about as fast as it can happen. EQ and TU are just not as efficient generally, and HSBC's all-at-once update probably represents a bigger headache for them, so they lag behind EX by a week or more. But I doubt any of the CRAs intentionally delay posting those updates. My guess is that all the blame falls on HSBC ...

[Anonymous]

I noticed after monitioring my report on TU through true credit that HSBC has already reported and it jumped my fako by 32 points.  Just waiting on it to report to EQ, hoping it happens soon.

[Jazzzy]

Hi tiger,

I tell ya...patience is the hardest part of the credit repair/reporting game. It is such a feeling of accomplishment to get something positive done on your credit...but then you wait and tap your foot until it finally posts.

I've learned that patience is absolutely the best policy, however. I've seen people who try to hurry things along get surprises they didn't want, like entire credit lines deleted from their reports accidentally. I never ask the creditors or the CRAs to "fix" anything unless it is really, truly worth it. The same goes for getting something reported faster. Often, their "fixes" can be a mess.