topic Re: How often do the CRA's Update? in General Credit Topics

How often do the CRA's Update?

Thunderseven — Fri, 21 Nov 2008 00:38:57 GMT

Just curious, does anyone know how often, and when do the CRA's update CR's? I've been waiting for about 3-weeks for an update on a loan type to post on EQ and I haven't seen it yet.

Re: How often do the CRA's Update?

Anonymous — Fri, 21 Nov 2008 05:25:33 GMT

It really depends when the creditor reports the information. When the bureaus recieve that info, there is some lag time until it hits your reports. I know from my experience that TU usually has the longest lag time to post and EXP is the fastest. But in general, they update reports everyday. It is possible that your creditor will not report your account until after your 1st billing cyle probably because they want to save magnetic tapes and submit everything in batches. Hope that helps.

Message Edited by Chopbrocoli on 11-20-2008 11:25 PM

Re: How often do the CRA's Update?

MidnightVoice — Fri, 21 Nov 2008 12:08:08 GMT

@Thunderseven wrote:
Just curious, does anyone know how often, and when do the CRA's update CR's?

Well, twas once said:

@Anonymous wrote:
Remember that credit bureaus use different methods to receive and process good versus bad credit information.

Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...

Re: How often do the CRA's Update?

Anonymous — Fri, 21 Nov 2008 17:06:03 GMT

Haha perhaps I am wrong. But geez, scribed onto scrolls in special ink by Gregorian monks? No wonder TU is that slow.

Re: How often do the CRA's Update?

JayBeast — Sat, 22 Nov 2008 17:13:53 GMT

So that explains the smog in Atlanta! I used to live there and pass EQ's headquarters daily. I never drove with the windows down because it always felt like I would choke on the bad air.