* I asked Grok this question for you. Hope this helps.
Creditors typically see updated credit scores once new information from your financial accounts is reported to the credit bureaus. Here's how this generally works:
**Reporting Frequency:**
Most creditors report to the credit bureaus on a monthly basis, though the exact timing can vary. Some might report at the beginning, middle, or end of the month, and it's not guaranteed that they report to all three major credit bureaus (Equifax, Experian, and TransUnion) simultaneously or at all. Information available from sources like Chase, Equifax, and Capital One indicates that updates can happen anywhere from every 30 to 45 days.
**Billing Cycle:**
Often, credit card companies report your account activity to the credit bureaus around your statement closing date. This means if you've made significant changes to your credit usage or payments, these won't reflect in your credit score until the next reporting cycle after your statement is generated.
**Credit Score Calculation:**
Credit scores are calculated "on demand" when a lender requests them. Therefore, once the credit bureaus have updated your credit report with new information, the next time a creditor pulls your credit for a new score calculation, they'll see this updated information. However, if no one requests your score, it won't be recalculated or updated from the creditor's perspective until someone does.
**Rapid Rescoring:**
In some situations, like when applying for a mortgage, if you've recently made significant payments or changes to your credit profile, you can request a "rapid rescore" through your lender. This speeds up the process, potentially updating your score in just a few days, but it's not a standard practice for all types of credit inquiries.
**Variability:**
There's no fixed day when all creditors update, and some might report more frequently than others, particularly if you have multiple financial products. Therefore, the exact timing when a creditor sees an updated score can vary based on when they last reported to the bureaus and when they next pull your score.
In essence, while creditors generally see updates to your credit score at least once a month due to monthly reporting cycles, the exact timing can depend significantly on your specific creditors' policies and your financial activities. If you're actively managing your credit to improve your score for an upcoming application, be aware that you might need to wait at least a month for changes to reflect unless you're using a method like rapid rescoring.
@shannonharvey wrote:Would any of you happen to know when creditors see updated scores? I’ve been working diligently over the past year to improve my scores and I’m seeing some of the results I’m looking for and would like to start replacing some of my subprime cards with no so….but am finding that I’m not even passing the pre-approval stage…..I’m in no rush and can wait, just like to get an idea as to what the process looks like when working with a scenario like this.
when you submit a request to a pre-approval tool, typically they are going to pull the most up to date report and use that report to request scores, which means the scores are accurate in real-times scores that they are getting
dirty profiles just don't do well in pre-approval tools, which tools are you trying and what cards are you looking to get?
do you have any outstanding derogatory debt on your report still?
