Reply
New Member
Posts: 2
Registered: ‎06-05-2013
0

credit scoring

trying to find out how long it usually takes for your credit score to be positively impacted once you pay off your credit cards.
Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
0

Re: credit scoring

Welcome!

 

If your FICO score were to be impacted, it would do so once the credit cards update to your credit report(s). Most all CCs will report the balance you had on the statement date of your CC and report that balance within 2-3-4 days or so following that statement date. Once your credit reports update, then your FICO score could change. The change is dependent upon how much of your utilization changed on your cards, the amount of the new vs. old balances, whether or not utilization is weighted within your scoring profile, among other factors.

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 based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.