topic Re: When does CRA update in General Credit Topics

When does CRA update

Anonymous — Fri, 22 Aug 2008 23:14:33 GMT

Hi all,

The answer to my question may be here somewhere i just cant find it.. I need to know when all 3 CRA update is it a certain day of the month? if so what day? I currently have 10 cca now all of which have a zero balance as of 08/15/08 i have been waiting for an update any day now i just opened escrow last week and sure could use a score jump right now..

thanks

Re: When does CRA update

MidnightVoice — Fri, 22 Aug 2008 23:52:57 GMT

They update every time someone sends them new information. Usually CCCs send the info soon after the statement cuts, and it takes then a couple of days to a couple of weeks to update

Re: When does CRA update

Anonymous — Sat, 23 Aug 2008 00:13:27 GMT

thanks.

so does that mean i wont recieve another update til next month after all ccc have cut my next statment??

Re: When does CRA update

Anonymous — Sat, 23 Aug 2008 00:41:32 GMT

I think different CCC's may report differently. i recently asked discover about this and they told me they report to the CRA on the 1st friday after my payment is due. I called Washington Mutual and they told me they report on the last friday of every month. Also, sometimes the reporting can be a month or so behind and you might see your 0 balances reported right off.

Re: When does CRA update

haulingthescoreup — Sat, 23 Aug 2008 00:49:17 GMT

(edit to add: This was replying to cartercorp --I should have quoted. Sorry for any confusion!)

Your reports can potentially change every day, or even several times a day, if several creditors send in their info on the same day. Your credit reports are like a rather jaggedy movie, with each frame changing as each update hits.

To add excitement, each CRA gets around to it in its own good time. For most of us, EX posts new info almost immediately after receiving. Then, for about 85% of us (very rough estimate), EQ updates several days after that, and TU up to a full week later. For that remaining 15%, EQ and TU reverse. And occasionally, they simply don't bother to update at all.

This is why so many of us subscribe to credit monitoring services, so that we can see as each bureau updates. But *ignore the scores that come with these --they're FAKO's!*

Are you signed up with Scorewatch (which does have FICO EQ scores) or another service? --since you said "so does that mean i wont recieve another update til next month."

Message Edited by haulingthescoreup on 08-22-2008 05:49 PM

Re: When does CRA update

haulingthescoreup — Sat, 23 Aug 2008 00:47:11 GMT

@Anonymous wrote:

I think different CCC's may report differently. i recently asked discover about this and they told me they report to the CRA on the 1st friday after my payment is due. I called Washington Mutual and they told me they report on the last friday of every month. Also, sometimes the reporting can be a month or so behind and you might see your 0 balances reported right off.

Bless their hearts, customer service reps at CCC's frequently don't have a clue. I bet you'll find that Discover reports on your statement date (not your due date) like clockwork, every month. Although I suppose that might fall a week after your due date. WaMu I thought reported on statement date? --but I could easily be wrong.

HSBC and Orchard update on the last business day of the month, reporting your balance as of that date. This only seems to be their bank cards, though (Visa, MC, etc.) I have an HSBC Best Buy store card (no MC) that updates on the statement date.

AmEx maddeningly reports a few days before your statement date, reporting the previous statement's balance.

Also, except for HSBC/Orchard, it goes by when YOUR account updates. So yours might update on the 5th, someone else's on the 10th, yet another's on the 20th, and so on.

Re: When does CRA update

Anonymous — Sat, 23 Aug 2008 01:18:20 GMT

yes i have joined all 3..meaning Equifax, Experian (free credit report.com),and Tu true credit...I believe all 3 are FAKO if im not mistaken. When the loan agent pulled my scores at wells fargo they all 3 were diffrent i believe wells fargo bank scores came in slightly higher that what i have posted here in my siggy is from the 3 monitering services..

Buy the way is it just me or is TU really slow to post any updates??the reason i ask is i also have my truck financed through WFAF and TU has not updated it since jun???