The FCRA requires that furnishers "promptly" update any previously reported information as is necessary to maintain the current accuracy of that information. See FCRA 623(a)(2).
No specific period in days, weeks, months, etc., is stipulated, leaving to interpretation what is considered to be "prompt."
A reasonableness standard must be appplied.
The common interpretation of prompt is in the next regular (which is usually monthly) reporting cycle.
That begins with a reasonable promptness period of at least 30 days.
Before updating balance information, the payment must first be processed internally by their accounting division, which reasonably could add another week before the payment is credited to the consumer file.
Then it must move to the credit reporting folks, who have their own procesing time periods before the update can be prepared.
If that update is prepared close to the next regular cycle reporting date, then it likely wont get entered into the update file sent to the CRA until the next monthly cycle.
We are now reasonably 40-60 days from date of payment.
Of course, business never goes smoothly.
I would personally not begin to complain until at lease 60 days has expired.
