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Credit Bureau update Question

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Anonymous
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Credit Bureau update Question

Hello,

 

I am new to this forum but have been reading alot of info from you all and thought i would join the community.

 

My Question is how often does the credit Bureau update your actual credit Report?

I know that the Credit Card Agencies usually report updates to the Credit Bureau right after a closed statement, but is there A time frame that lets say Equifax has to but that submitted info up on the report?

 

I am asking because I made a really Big payment on my Citi Costco card on July 29th and my statement closed on the 5th. it still hasnt updated yet. I just checked today. last update shows July 1st.

Message 1 of 8
7 REPLIES 7
Anonymous
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Re: Credit Bureau update Question

While there's no rule to this, usually the bureaus tend to update your report within a few days of the information being reported by the creditor.  Things like holidays or the weekend could impact things by a day or two here or there, but generally that's what I've experienced.

 

It's also possible that the cycle you're looking at got missed.  I've seen this happen with several of my accounts on occasion, where a month for some reason seems to not get reported.  Of course, there's no way to tell if it's the creditor that doesn't report that month, or if they do report and it's the bureau(s) that doesn't update that month.  You could always contact the creditor and ask if they did report and if they say yes (or no actually) you could request that they report (or re-report).  People have mixed results when asking for this.  The worst you can get is a "no" though.

Message 2 of 8
Anonymous
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Credit Report not updating... What should I do?

So I made a 10k payment I had on a Costco Citi Card back on July 29th. my statement close date was the 4th of August. I have checked Experian Trans and EQ multiple times since then and I have not received an update yet on them. I called city bank and they just said they report balance when the statement closes.

 

How long should I wait before I take action and what/who would I contact?

 

Thanks,

Message 3 of 8
Anonymous
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Re: Credit Report not updating... What should I do?


@Anonymous wrote:

So I made a 10k payment I had on a Costco Citi Card back on July 29th. my statement close date was the 4th of August. I have checked Experian Trans and EQ multiple times since then and I have not received an update yet on them. I called city bank and they just said they report balance when the statement closes.

 

How long should I wait before I take action and what/who would I contact?

 

Thanks,


The payment will update after your September 4th statement.  Apparently it wasn't processed in time for the 8/4 statement.

Message 4 of 8
Anonymous
Not applicable

Re: Credit Report not updating... What should I do?

@Anonymous

 

I merged your two threads as they deal with the same subject.

Message 5 of 8
Anonymous
Not applicable

Re: Credit Report not updating... What should I do?


@Anonymous wrote:

@Anonymous wrote:

So I made a 10k payment I had on a Costco Citi Card back on July 29th. my statement close date was the 4th of August. I have checked Experian Trans and EQ multiple times since then and I have not received an update yet on them. I called city bank and they just said they report balance when the statement closes.

 

How long should I wait before I take action and what/who would I contact?

 

Thanks,


The payment will update after your September 4th statement.  Apparently it wasn't processed in time for the 8/4 statement.



Wouldnt it though just post the previous data but still something?

It doesnt have anything for Aug at all. 

Message 6 of 8
Anonymous
Not applicable

Re: Credit Report not updating... What should I do?


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

So I made a 10k payment I had on a Costco Citi Card back on July 29th. my statement close date was the 4th of August. I have checked Experian Trans and EQ multiple times since then and I have not received an update yet on them. I called city bank and they just said they report balance when the statement closes.

 

How long should I wait before I take action and what/who would I contact?

 

Thanks,


The payment will update after your September 4th statement.  Apparently it wasn't processed in time for the 8/4 statement.



Wouldnt it though just post the previous data but still something?

It doesnt have anything for Aug at all. 


It should show the balance of your 8/4 statement.  If nothing shows at all then that is unusual.  I'd still wait until  after the 9/4 statement and see if it updates then.  If it hasn't after couple days then I'd contact Citi again and depending on their response you might need to take more action.

Message 7 of 8
Anonymous
Not applicable

Re: Credit Report not updating... What should I do?


@Anonymous wrote:



 I'd still wait until  after the 9/4 statement and see if it updates then.  If it hasn't after couple days then I'd contact Citi again and depending on their response you might need to take more action.

Great advice from Irish, as always..  My only tweak is that, any time a person is waiting to see the results of a creditor reporting to the bureau, you need to wait at least a week, and add 1-2 business days to that if it is around a major holiday (e.g. Labor Day).  Thus, the only way you'll be able to conclude that they did not report on Sept 4 is by waiting till Sept 13 and then pulling your reports again (e.g. at Karma or CCT). 

 

On the SS loan thread not long ago a huge number of posts occured (early August) from people certain that Alliant had not reported their Aug 1 loan balance to EX.  I gently and repeatedly suggested that they needed to wait at least a week (or more like 9 days) before they'd have grounds for concluding that.  Nobody believed me, and lots of people began sending messages to Alliant compaining about it.  Sure enough, however, about 8 days later (like clockwork) people saw it appear.

 

I was never certain that it would appear by Aug 9, simply that until they had waited that long and then done a fresh pull from the bureaus, they could not conclude there was a problem.

Message 8 of 8
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