Credit score update?

[hyevegas]

When does the credit score update, have made extra payments (twice per month) and always more than minimum.

[llecs]

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@hyevegas wrote:

When does the credit score update, have made extra payments (twice per month) and always more than minimum.

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Welcome! Are you referring to any score purchased on myFICO.com? If so, which product are you using? 

FICO scores update whenever you have a change to your CR that results in a FICO change. Not every change will result in a FICO increase or decrease though. In your example, FICO doesn't necessarily care if you paid extra because that's not scored at all. What is scored is the balance showing on your CR and CCs and other lenders typically only update only once per month around your statement date.

[rtribull]

Hey,

On July 5th (per mail from equifax)  I had 2 items deleted from my credit report. They were educational loan accounts that showed as 120+ days late/delinquent and a total of over 5,000.00.

I would assume that would change my score and still MyFico hasn't made a change.

Couldn't i safely assume that a change is going to happen? Just wondering when i could expect to see something.

I want to start looking for houses and would feel more comfortable/confident knowing my credit score is a bit higher plus show i wasn't delinquent for this.

Thanks

Rikki

[HoldingOntoHope]

Even though those are major derogatory's whether your credit score will change is still dependent on what else is in your report. If these were the worst derogatory or only derogatory information and they were deleted then you would probably see a rise. If you have newer negative information than these then you may not see a change. And the deletion of the accounts is going to affect your age of accounts and length of history.

When you say your score didn't change do you mean that you pulled a report and it was the same? Or are you using a FICO monitoring service and did not get an alert? If it is the monitoring service you may need to see what parameters you have set for your alerts.

[rtribull]

My credit has other older accounts so the age won't be affected.

I have no new collection or negative marks on my account.

I am using the monitoring and have it on my current credit score so it will alert me for a change.

Thanks

[takeshi74]

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@hyevegas wrote:

When does the credit score update, have made extra payments (twice per month) and always more than minimum.

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You won't see an update until there's a significant change in your utilization reported to the CRA's.  Twice per month and more than the minimum really don't mean anything on their own.   Calculate your change in utilization.  I can pay several times a month and more than the minimum with no impact at all to my utilization.  I can also pay several times a month and more than the minimum with significant impact to my utilization.