CC update to CB's

[Anonymous]

I am getting ready to buy new car (found one I want and am ready to act now).  I did have a $495 balance on my Cap One card (CL is $500) and have paid it off.  It hasn't reported to the CB's yet though.  Right now my EQ FICO is 671 and I know it will go up once that card is PIF.  I thought I read somewhere that if you call the credit card company they will update immediately to the CB's.  I called Cap 1 and told them I was getting ready to close on a house ; ) and wanted the CB's updated.  The rep said they couldn't do that and I would have to wait till the end of the month.  Does anyone know if they can update sooner??

Thanks for any help you have for me! 

[Anonymous]

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bsf56 wrote:

I am getting ready to buy new car (found one I want and am ready to act now).  I did have a $495 balance on my Cap One card (CL is $500) and have paid it off.  It hasn't reported to the CB's yet though.  Right now my EQ FICO is 671 and I know it will go up once that card is PIF.  I thought I read somewhere that if you call the credit card company they will update immediately to the CB's.  I called Cap 1 and told them I was getting ready to close on a house ; ) and wanted the CB's updated.  The rep said they couldn't do that and I would have to wait till the end of the month.  Does anyone know if they can update sooner??

Thanks for any help you have for me! 

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I know there's a rapid rescore option (I think it's around 30 bucks) and is usually used by people who are trying to buy a house.  I'm not sure if the dealer can offer this or not.

[Anonymous]

Gonna have to wait for the next statement- it will update soon after-

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bsf56 wrote:

I am getting ready to buy new car (found one I want and am ready to act now).  I did have a $495 balance on my Cap One card (CL is $500) and have paid it off.  It hasn't reported to the CB's yet though.  Right now my EQ FICO is 671 and I know it will go up once that card is PIF.  I thought I read somewhere that if you call the credit card company they will update immediately to the CB's.  I called Cap 1 and told them I was getting ready to close on a house ; ) and wanted the CB's updated.  The rep said they couldn't do that and I would have to wait till the end of the month.  Does anyone know if they can update sooner??

Thanks for any help you have for me! 

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[Anonymous]

What ever happened with this??  Did they report at the end of the month?  Is your payment due at the end of the month?  My payments are due the 19th, and in the last statement period I paid off enough to make my balance less than 40% however Cap 1 hasn't reported since 1/23 according to a Transunion pull yesterday 2/29.  Does Cap 1 report at the end of the month or right after the due date?  Do they consistently report these (u know every month)? 

[Anonymous]

I just went ahead and purchased a car with a FICO of 671...I ended up getting a good rate so it all worked out.  Cap 1 is pretty good about reporting every month though.  I watched my credit like a hawk prior to closing on my home in December, and Cap 1 would report about a week after my statement would drop.  My statements drop on the 2nd of the month (payment was due on the 27th) so it probably won't be until about the 10th or 11th before they update...I found the vehicle I wanted and didn't want to wait. 

[haulingthescoreup]

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@Anonymous wrote:

What ever happened with this?? Did they report at the end of the month? Is your payment due at the end of the month? My payments are due the 19th, and in the last statement period I paid off enough to make my balance less than 40% however Cap 1 hasn't reported since 1/23 according to a Transunion pull yesterday 2/29. Does Cap 1 report at the end of the month or right after the due date? Do they consistently report these (u know every month)?

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TransUnion is way behind for lots of people. Most cards (certainly not all) report on their statement date, not the due date, but the date that the statement drops. They generally report the balance that's on that statement, so if you wait until near the due date to pay, then they're reporting a higher balance.

What many of us do is check online several days BEFORE the next statement is due and pay the card down or off then. That way, the amount that is on the statement and reported to the CRA's is much lower, and that will help your scores.