I'm new here and just checked my Fico scores. They are good (750-747) but I recently paid off one credit card that had a very high balance. I will be looking into getting a new car soon. . (well, a used car but new to me! ) The CC pay off occurred 2 weeks ago and it still isn't showing today. How long should it take to show up? How much higher can I expect my Fico score to improve?
Welcome to the forum
probably the following month in most cases
Most CC will report after the closing date. It usually takes a few days more for it show up.
The answer to your question is it varies greatly. The balance that is reported to the CRAs is the same one that you see on your monthly statement. To assure the quickest reporting of your balance I would recommend having a non zero balance. Sometimes cc companies will skip reporting with a zero balance. I suspect that they do that to save a few pennies with accounts that are "inactive". If it hasn't reported a few days after the statement date then it is likely that it won't report for another monthly cycle. So if your cc is at zero now buy a cup of coffee with it. If you provide us with more specifics we can provide you with a more specific answer...
Usually statement closing date. But I've seen cases on my own report where new information wasn't reported for up to 2 stetement cycles.
If you are looking at Transunion, they are incredibly slow at updating. It still shows my February statement close amount on my Barclays while the other two updated shortly after the March statement closed.