Why is it when something negatives happens with your credit, It appears on the credit report almost immediately, but if something positive happens it doesn't appear until the next cycle? This is ridiculous that I have to wait a whole month for positives to show up.
Let me put it a different way. I had a zero balance on a credit card. A website charged the card $6.99 even though I canceled before the trial was up. The credit card company usually sends me emails letting me know that I have a payment due. I found out that the payment was over 30 days late when Myfico let me know that my credit score had dropped 66 points. I called the credit card company, they admitted their mistake. They sent a letter to the credit reporting agency and said it would take 3 weeks for it to show up. Why shouldn't that mistake be removed as quickly as it appeared in my credit score?
Ask any stand-up comedian -- what's the most important factor in success?
TIMING
Your creditor probably only reports to the CRAs once per month. If your alleged 30-day late happened the day before your creditor sent its info to the CRAs, that info got caught in that reporting cycle.
If the fix happened the day after your creditor sent its info to the CRAs, you have to wait an additional 30-day cycle for it to update.
It's a common misconception that negatives report more quickly than positives. Everyone seems to think so, probably because waiting for positive information to report is like waiting for the proverbial watched pot to boil.
As mas said above, creditors report on a given schedule, usually once a month, whether the information is positive or negative.
It's a common misconception that negatives report more quickly than positives. Everyone seems to think so, probably because waiting for positive information to report is like waiting for the proverbial watched pot to boil.
As mas said above, creditors report on a given schedule, usually once a month, whether the information is positive or negative.
Recently, I applied for a CLI on my BOA CC. The CLI was reported in advance of the regular monthly reporting cycle. I was pretty happy about the increase and the speed with which they reported it.
It's a common misconception that negatives report more quickly than positives. Everyone seems to think so, probably because waiting for positive information to report is like waiting for the proverbial watched pot to boil.
As mas said above, creditors report on a given schedule, usually once a month, whether the information is positive or negative.
Recently, I applied for a CLI on my BOA CC. The CLI was reported in advance of the regular monthly reporting cycle. I was pretty happy about the increase and the speed with which they reported it.
Yep, this is SOP for BofA when they give CLIs. They did the same for me, and I was pretty happy with it.
I know how you feel. I had a delinquent account that was in collections, that was not mine. I disputed it for years. Then I came here, and learned about DV and GW letters. I sent them a DV, they couldn't prove it was mine. Sent me a letter stating so. Then I disputed again with the bureaus. It took a month or so for that to show on my credit, as being removed. TU, and EQ - barely budged my score. EX jumped dramatically!
Message Edited by hunnybunnz on 06-17-200808:36 AM
