topic Re: How long for 5/4/2 Scores to Update in Understanding FICO® Scoring

How long for 5/4/2 Scores to Update

Yekuka — Sun, 05 Jul 2020 09:48:27 GMT

Hi,

I just paid down a lot of debt from $23,500 to $3,500. Bought 5 accounts to $0:

Capital One Business $5300 CL

Capital One Quicksilver $1750 CL

Discover $11,5000 CL

AMEX/Macy's $1750 CL

Gap $1000 CL

-and only have Capital One Bal of $1550 on a CL of $2000 and AMEX Business Platinum (Bal of $2000, paying that off in mid July). The info I found here regarding AZEO helped tremdously :-). Planning to get that last Cap One bal to $200/250

This pushed my FICO 8 to 740/713/747 ( EQ, TU, EX) so that's good news..

However, my 5/4/2 are 612/650/685. I saw the last updates was 5/29. I'm expecting those to possibly rise and how long should it be before they update to reflect the big reduction in balances? I don't have an auto loan, but have a long credit history (over 20 years), no recent Inquiries and had a personal loan which was paid off and never late? Once they update I'm hoping to see an increase as I'm looking to eventually purchase a home in the nyc/Tri-State area.

Any info will be hugely appreciated and Happy 4th to all

Thanks

Re: How long for 5/4/2 Scores to Update

SouthJamaica — Sun, 05 Jul 2020 11:07:18 GMT

@Yekuka wrote:
Hi,

I just paid down a lot of debt from $23,500 to $3,500. Bought 5 accounts to $0:

Capital One Business $5300 CL
Capital One Quicksilver $1750 CL
Discover $11,5000 CL
AMEX/Macy's $1750 CL
Gap $1000 CL
-and only have Capital One Bal of $1550 on a CL of $2000 and AMEX Business Platinum (Bal of $2000, paying that off in mid July). The info I found here regarding AZEO helped tremdously :-). Planning to get that last Cap One bal to $200/250

This pushed my FICO 8 to 740/713/747 ( EQ, TU, EX) so that's good news..

However, my 5/4/2 are 612/650/685. I saw the last updates was 5/29. I'm expecting those to possibly rise and how long should it be before they update to reflect the big reduction in balances? I don't have an auto loan, but have a long credit history (over 20 years), no recent Inquiries and had a personal loan which was paid off and never late? Once they update I'm hoping to see an increase as I'm looking to eventually purchase a home in the nyc/Tri-State area.

Any info will be hugely appreciated and Happy 4th to all

Thanks

They update when you pull your report.

Re: How long for 5/4/2 Scores to Update

RadioRob — Sun, 05 Jul 2020 11:50:11 GMT

The scores themselves used by lenders update in real time as seen by the lender. In terms of what you see when you view your Fico 3B report, it updates monthly at whatever time you pull your report.

You get updates to Fico 8 through out the month but all of the other flavors only update once per pull.

Re: How long for 5/4/2 Scores to Update

Yekuka — Sun, 05 Jul 2020 14:08:12 GMT

Ah ok, that makes sense. I appreciate the information and this community.

The guidance and sharing of inforation is priceless. I'll post the updated 5/4/2 once I lower my Utilization on the Cap One card.

Re: How long for 5/4/2 Scores to Update

Yekuka — Sun, 05 Jul 2020 14:11:17 GMT

Thanks much! Am I counting corrrectly that you have 30 cards? Amazing. Thanks 😊

Re: How long for 5/4/2 Scores to Update

RadioRob — Sun, 05 Jul 2020 21:24:01 GMT

SJ does indeed have a decent sized collection. I'm personally at 24 revolving trade lines and another dozen installment (mortgage, auto, 2x personal loans, and a bunch of student loans).

Re: How long for 5/4/2 Scores to Update

UpAndComing74 — Thu, 03 Dec 2020 19:39:20 GMT

@RadioRob wrote:
The scores themselves used by lenders update in real time as seen by the lender. In terms of what you see when you view your Fico 3B report, it updates monthly at whatever time you pull your report.

You get updates to Fico 8 through out the month but all of the other flavors only update once per pull.

Can you force the update by paying for a report prior to the monthly 3B pull?

Re: How long for 5/4/2 Scores to Update

Anonymous — Fri, 04 Dec 2020 04:28:58 GMT

@UpAndComing74 wrote:
@RadioRob wrote:
The scores themselves used by lenders update in real time as seen by the lender. In terms of what you see when you view your Fico 3B report, it updates monthly at whatever time you pull your report.

You get updates to Fico 8 through out the month but all of the other flavors only update once per pull.
Can you force the update by paying for a report prior to the monthly 3B pull?

@UpAndComing74 They update as soon as the lenders information goes to them and the interstial period passes.

Its just like score 8, but you don't get an update or access to them unless you spend the money and pull the report. Yes if you spend the money and pull the report you'll see the changes, if any, even daily.

but it's cheaper to use Experian for daily Experian Scores.

Re: How long for 5/4/2 Scores to Update

UpAndComing74 — Fri, 04 Dec 2020 04:39:25 GMT

@Anonymous wrote:
@UpAndComing74 wrote:
@RadioRob wrote:
The scores themselves used by lenders update in real time as seen by the lender. In terms of what you see when you view your Fico 3B report, it updates monthly at whatever time you pull your report.

You get updates to Fico 8 through out the month but all of the other flavors only update once per pull.
Can you force the update by paying for a report prior to the monthly 3B pull?
@UpAndComing74 They update as soon as the lenders information goes to them and the interstial period passes.

Its just like score 8, but you don't get an update or access to them unless you spend the money and pull the report. Yes if you spend the money and pull the report you'll see the changes, if any, even daily.

but it's cheaper to use Experian for daily Experian Scores.

@Anonymous Thats a bummer. Im still on my race to 700 midscore for TU4. Everything else updated but that score and I paid to pull them a day apart. Hopefully January will bring AoYA to 6 months and Month since 30 day deliquency to 12 months and maybe I can get 3 points.

This one is 12/01

This is 12/03 after installment loan balances updated.

Re: How long for 5/4/2 Scores to Update

Anonymous — Fri, 04 Dec 2020 06:07:51 GMT

@UpAndComing74 wrote:
@Anonymous wrote:
@UpAndComing74 wrote:
@RadioRob wrote:
The scores themselves used by lenders update in real time as seen by the lender. In terms of what you see when you view your Fico 3B report, it updates monthly at whatever time you pull your report.

You get updates to Fico 8 through out the month but all of the other flavors only update once per pull.
Can you force the update by paying for a report prior to the monthly 3B pull?
@UpAndComing74 They update as soon as the lenders information goes to them and the interstial period passes.

Its just like score 8, but you don't get an update or access to them unless you spend the money and pull the report. Yes if you spend the money and pull the report you'll see the changes, if any, even daily.

but it's cheaper to use Experian for daily Experian Scores.
@Anonymous Thats a bummer. Im still on my race to 700 midscore for TU4. Everything else updated but that score and I paid to pull them a day apart. Hopefully January will bring AoYA to 6 months and Month since 30 day deliquency to 12 months and maybe I can get 3 points.
This one is 12/01

This is 12/03 after installment loan balances updated.

@UpAndComing74 Yeah there is no daily access to TU4. Unless you want to buy a new report every day.

The best thing you can do is get a wallethub account. They update daily at 6 AM the score is meaningless but the data changes are accurate. Then you know when update has been posted to your TransUnion file and then you know whether or not to spend the money and pull a report to see if the score has changed.

True enough the biggest thing impacting your score right now is the derogatory and yes they do give them points at 6 months, 12 months, & 24 months from the most recent derogatory.

Re: How long for 5/4/2 Scores to Update

Anonymous — Thu, 02 Sep 2021 19:58:32 GMT

I pulled up mine and no update to my 5/4/2 scores and my scores have gone up with all three Fico 8 scores. Any suggestions?

Re: How long for 5/4/2 Scores to Update

Anonymous — Fri, 03 Sep 2021 12:56:04 GMT

@Anonymous wrote:
I pulled up mine and no update to my 5/4/2 scores and my scores have gone up with all three Fico 8 scores. Any suggestions?

We would need to know more details about your profile to advise what would be the best strategies to increase your 5/4/2 scores. Any late payments, charge offs, or collections? How many revolving accounts do you have? How many of those are reporting balances? What is your utilization, per card and overall? How many open loans do you have? What is the age of your oldest account and the average age of your accounts? Also, how recent was your newest account opened?

The more details you can provide on your profile the better insight we cna give as to why you have seen F8 changes but not 5/4/2 changes. We can also give you some strategies that have been proven to increase 5/4/2 scores.