Credit cards payoff - credit score

[Anonymous]

Hi All,

Could anybody tell me if I payoff my credit cards, how long does it take credit reports to reflect that?

Apprecite your help

[Creditaddict]

30-60 days

[Anonymous]

Depends when your CC reports.

IME, Experian reports almost instantly.  EQ and TU drag along.

But, it can take 1 to 2 billing cycles...generally because the CC doesn't report promptly.

IMO IME

[Anonymous]

my score is 716. Is it too bad?

If I payoff today, could CC tell me when that will be reported?

Also, as far as I understood, Experian reports will show the change in balances quickly, is that right?

Thanks a lot for help...

[Anonymous]

my score is 716. Is it too bad?

If I payoff today, could CC tell me when that will be reported?

Also, as far as I understood, Experian reports will show the change in balances quickly, is that right?

Thanks a lot for help...

[Anonymous]

It would be after the statement cut off, after all you don't have a true zero balance unless your billing cycle "closes" and goes to statement with $0.

[DI]

Jenny_k

Welcome to the forums.   It could take anywhere from 30-60 days for your tradelines to update on your CBR's.  You mostly like will see an update first on your Experian credit report.  

Message Edited by DI on 01-15-2010 12:50 PM

[Anonymous]

However, it may be much faster.  NONE of my accounts takes 30 days.  Experian updates the next day and all are updated within 7 to 10 days.  So the 30-60 is a possible number...but not necessarily the average or expected time frame.

[Anonymous]

Thank you very much! that was very helpful

[BungalowMo]

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@Anonymous wrote:

my score is 716. Is it too bad?

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 BAD???  Not at all!  Some here would give a limb for a 700 + score!

And as mentioned, most ccc's report to the CB's on the statement cut/closing date.  So the trick is to get the payment posted a few days prior to the statement cut date for the best score.