@watch44 wrote:@facutardeat wrote:
Thanks for your response.
I just spoke with an online BofA customer service rep. and was told that after BofA reports to the bureaus today (my closing date), it could take 30-60 days for my actual credit report to update. Does this sound accurate? If so, I would obviously want to wait to apply for any cards until after that time, correct?
Once it reports, it reports. The cs rep may be referring to how often your particular monitoring service updates (pulls reports). Services can pull instantly, daily, weekly, monthly, bi-monthly, etc.. Credit Karma pulls weekly. I'd just wait for CK to update for verification unless you're in a real hurry. You can start pulling all your free reports over the next three days. Or you can sub to a daily monitoring service (EIDT, USAA) but setting those up can take a few days anyway.
Thank you very much for all the info 
I'm (clearly) really new to all of this. I have only just started to tap the info available on these forums, yet I have already (more than once) come across as some sort of credit-expert in casual discussion (!).
In any event, I will wait for Credit Karma to update and go from there!
Thanks, but I'm no expert. I just say stuff until someone corrects me. 
@facutardeat wrote:
@watch44 wrote:@facutardeat wrote:
Thanks for your response.
I just spoke with an online BofA customer service rep. and was told that after BofA reports to the bureaus today (my closing date), it could take 30-60 days for my actual credit report to update. Does this sound accurate? If so, I would obviously want to wait to apply for any cards until after that time, correct?
Once it reports, it reports. The cs rep may be referring to how often your particular monitoring service updates (pulls reports). Services can pull instantly, daily, weekly, monthly, bi-monthly, etc.. Credit Karma pulls weekly. I'd just wait for CK to update for verification unless you're in a real hurry. You can start pulling all your free reports over the next three days. Or you can sub to a daily monitoring service (EIDT, USAA) but setting those up can take a few days anyway.
Thank you very much for all the info
I'm (clearly) really new to all of this. I have only just started to tap the info available on these forums, yet I have already (more than once) come across as some sort of credit-expert in casual discussion (!).
In any event, I will wait for Credit Karma to update and go from there!
Just to add some points:
1. Credit Karma's scoring system is absurd and used by exactly no one (as far as lenders go). It can be a great tool for monitoring inquirys, dergoatory marks, account balance updates, etc, but don't drive yourself batty by giving that score too much thought.
2. If you have one card and it just reported 81% UTIL, you should absolutely wait until that goes down. I'm definitely not saying that there is no chance you would get approved, but your approval odds and chance of a higher CL are much more favorable if you hold off until it reports <10%.
3. I don't have a B of A card, but out of the cards I do have, none of them take 30-60 days after a statement closes to report the balance. 30-60 days sounds like the default answer to give it enough time.
4. Keep in mind that when monitoring your CK account for the balance change, that's only good for your TransUnion report. The Everyday app will pull Experian, and CSP probably depends on where you live. For me Chase always pulls EX, and pulls TU if EX doesn't give them a clear cut yes. Just make sure your lower UTIL has reported on all your reports.
@-NewGuy- wrote:
@facutardeat wrote:
@watch44 wrote:@facutardeat wrote:
Thanks for your response.
I just spoke with an online BofA customer service rep. and was told that after BofA reports to the bureaus today (my closing date), it could take 30-60 days for my actual credit report to update. Does this sound accurate? If so, I would obviously want to wait to apply for any cards until after that time, correct?
Once it reports, it reports. The cs rep may be referring to how often your particular monitoring service updates (pulls reports). Services can pull instantly, daily, weekly, monthly, bi-monthly, etc.. Credit Karma pulls weekly. I'd just wait for CK to update for verification unless you're in a real hurry. You can start pulling all your free reports over the next three days. Or you can sub to a daily monitoring service (EIDT, USAA) but setting those up can take a few days anyway.
Thank you very much for all the info
I'm (clearly) really new to all of this. I have only just started to tap the info available on these forums, yet I have already (more than once) come across as some sort of credit-expert in casual discussion (!).
In any event, I will wait for Credit Karma to update and go from there!
Just to add some points:
1. Credit Karma's scoring system is absurd and used by exactly no one (as far as lenders go). It can be a great tool for monitoring inquirys, dergoatory marks, account balance updates, etc, but don't drive yourself batty by giving that score too much thought.
2. If you have one card and it just reported 81% UTIL, you should absolutely wait until that goes down. I'm definitely not saying that there is no chance you would get approved, but your approval odds and chance of a higher CL are much more favorable if you hold off until it reports <10%.
3. I don't have a B of A card, but out of the cards I do have, none of them take 30-60 days after a statement closes to report the balance. 30-60 days sounds like the default answer to give it enough time.
4. Keep in mind that when monitoring your CK account for the balance change, that's only good for your TransUnion report. The Everyday app will pull Experian, and CSP probably depends on where you live. For me Chase always pulls EX, and pulls TU if EX doesn't give them a clear cut yes. Just make sure your lower UTIL has reported on all your reports.
Thank you for the info!
Just to reiterate, I paid the balance in full on 5/9, taking it from 81% utilization to 0% utilization. My current statement closing date is today. So I'm expecting BofA to report a $0 balance and 0% utilization sometime this week.
@facutardeat wrote:
@-NewGuy- wrote:
@facutardeat wrote:
@watch44 wrote:@facutardeat wrote:
Thanks for your response.
I just spoke with an online BofA customer service rep. and was told that after BofA reports to the bureaus today (my closing date), it could take 30-60 days for my actual credit report to update. Does this sound accurate? If so, I would obviously want to wait to apply for any cards until after that time, correct?
Once it reports, it reports. The cs rep may be referring to how often your particular monitoring service updates (pulls reports). Services can pull instantly, daily, weekly, monthly, bi-monthly, etc.. Credit Karma pulls weekly. I'd just wait for CK to update for verification unless you're in a real hurry. You can start pulling all your free reports over the next three days. Or you can sub to a daily monitoring service (EIDT, USAA) but setting those up can take a few days anyway.
Thank you very much for all the info
I'm (clearly) really new to all of this. I have only just started to tap the info available on these forums, yet I have already (more than once) come across as some sort of credit-expert in casual discussion (!).
In any event, I will wait for Credit Karma to update and go from there!
Just to add some points:
1. Credit Karma's scoring system is absurd and used by exactly no one (as far as lenders go). It can be a great tool for monitoring inquirys, dergoatory marks, account balance updates, etc, but don't drive yourself batty by giving that score too much thought.
2. If you have one card and it just reported 81% UTIL, you should absolutely wait until that goes down. I'm definitely not saying that there is no chance you would get approved, but your approval odds and chance of a higher CL are much more favorable if you hold off until it reports <10%.
3. I don't have a B of A card, but out of the cards I do have, none of them take 30-60 days after a statement closes to report the balance. 30-60 days sounds like the default answer to give it enough time.
4. Keep in mind that when monitoring your CK account for the balance change, that's only good for your TransUnion report. The Everyday app will pull Experian, and CSP probably depends on where you live. For me Chase always pulls EX, and pulls TU if EX doesn't give them a clear cut yes. Just make sure your lower UTIL has reported on all your reports.
Thank you for the info!
Just to reiterate, I paid the balance in full on 5/9, taking it from 81% utilization to 0% utilization. My current statement closing date is today. So I'm expecting BofA to report a $0 balance and 0% utilization sometime this week.
Ah, ok Well, I don't think it should take too long to report that way. Actually, I might make a purchase and see if you can get it to report maybe 5% UTIL or so. It might be beneficial to have it report some balance rather than none at all.
@-NewGuy- wrote:
Ah, ok
So you're saying it would be a GOOD thing to treat myself to an $80 lunch today? 
@facutardeat wrote:
@-NewGuy- wrote:Ah, ok
So you're saying it would be a GOOD thing to treat myself to an $80 lunch today?
Just take a client and make it a reimburseable expenseTwo birds, one stone...
Congrats on finishing your degree and landing a job. (a bit late I know)
@SpaceInvader wrote:
@facutardeat wrote:
@-NewGuy- wrote:Ah, ok
So you're saying it would be a GOOD thing to treat myself to an $80 lunch today?
Just take a client and make it a reimburseable expense
Congrats on finishing your degree and landing a job. (a bit late I know)
There you go! And thanks very much Really feel fortunate to get my foot in the door somewhere!
@facutardeat wrote:
@-NewGuy- wrote:Ah, ok
So you're saying it would be a GOOD thing to treat myself to an $80 lunch today?
Well since you're offering...
Maybe 1-2% then. Since it's your only card it might help, but certainly not a deal breaker.
@watch44 wrote:Thanks, but I'm no expert. I just say stuff until someone corrects me.
This! LMAO!!! I'm the same way! I just repeat what I've read on other threads... Glad I'm able to help though!
