Credit Score/Report Updates

Anonymous · ‎05-20-2020

Question for everyone: Is it taking a little longer for creditors and credit bureaus to update scores and account information during COVID-19? I've just noticed my stuff not updating like they used to. I fully paid off a credit card and waiting to see my UTL go down, but it's been about 3-4 weeks since that was paid.

I know I should be patient, but just was curious haha.

Thanks!!

Anonymous · ‎05-20-2020

@Anonymous wrote:
Question for everyone: Is it taking a little longer for creditors and credit bureaus to update scores and account information during COVID-19? I've just noticed my stuff not updating like they used to. I fully paid off a credit card and waiting to see my UTL go down, but it's been about 304 weeks since that was paid.

I know I should be patient, but just was curious haha.

Thanks!!

I personally think so.

It has taken either my CCC or a couple of the CRAs up to 2 months to reflect some changes in my accounts. Could just be me, but I thought it was irregular.

core · ‎05-20-2020

Why would this be, though? The little old lady at the bank who usually types up all the balances and faxes them to the CRAs is now too busy helping customers with hardship requests?

Anonymous · ‎05-20-2020

I see.no difference in how my accounts report to the credit bureaus.

Credit card accounts typically report to the bureaus at midnight of their Statement Date (US Bank and Elan Financial Services report on the last business day of the month). If you paid off the account before the Statement Date it would not report until that specific date, then it takes at least two days before the account update is visible on the bureau reports (The exception is JP Morgan Chase which reports to the bureaus as soon as you pay down an existing balance to zero).

M_Smart007 · ‎05-20-2020

@Anonymous wrote:
Question for everyone: Is it taking a little longer for creditors and credit bureaus to update scores and account information during COVID-19? I've just noticed my stuff not updating like they used to. I fully paid off a credit card and waiting to see my UTL go down, but it's been about 3-4 weeks since that was paid.

I know I should be patient, but just was curious haha.

Thanks!!

Due to Covid-19 .. everything has been a little wonky.

some lenders have not skipped a beat, others .. YMMV