Delay between Report Date & Score Update?

[Anonymous]

Good Morning, I've noticed an interesting phenomenon in my credit reports lately. For my revolving accounts, the monthly balances are reported to the CRAs on a certain date, and are usually factored into a new credit score on the very next day. I'd say that this happens about 95% of the time, but every so often an update will take a week or two to appear actually appear on the credit report. So, for example, an update that is reported on the 25th and normally appears on the credit report on the 26th, will suddenly take much, much longer to appear - but, when it does appear, it still shows that it was reported on the 25th.

With installment accounts, it's even stranger. They will do the same thing, but are far less predictable. One loan will report and update the next day, and another, reported on the same day, will take a week and a half. Then, the following month, the two will switch, and one will be late while the other will be immediate. This appears to happen across the CRAs. Again, even for those that update later, they still show as having been reported on the normal date. 

I'm just curious if this is normal and, if it is, is there any particular reason why this happens. Not that it matters, I'm just curious!

Thanks (: 

[gdale6]

Not all CR updates are triggers for monitoring services. There is a page on what triggers updates to scoring if this is a myFico monitor service you are speaking of.

[SouthJamaica]

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@Anonymous wrote:

Good Morning, I've noticed an interesting phenomenon in my credit reports lately. For my revolving accounts, the monthly balances are reported to the CRAs on a certain date, and are usually factored into a new credit score on the very next day. I'd say that this happens about 95% of the time, but every so often an update will take a week or two to appear actually appear on the credit report. So, for example, an update that is reported on the 25th and normally appears on the credit report on the 26th, will suddenly take much, much longer to appear - but, when it does appear, it still shows that it was reported on the 25th.

With installment accounts, it's even stranger. They will do the same thing, but are far less predictable. One loan will report and update the next day, and another, reported on the same day, will take a week and a half. Then, the following month, the two will switch, and one will be late while the other will be immediate. This appears to happen across the CRAs. Again, even for those that update later, they still show as having been reported on the normal date. 

I'm just curious if this is normal and, if it is, is there any particular reason why this happens. Not that it matters, I'm just curious!

Thanks (: 

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Most lenders report the balance on a revolving account as of the statement date, but there is no rule of thumb for when they will notify the credit bureau of that balance.

Most lenders report the balance on an installment account or of a revolving line of credit as of the last day of the month or the first day of the month, but again there is no rule of thumb as to when they will let the credit bureaus know.

I have some revolving accounts which report differently (1 which reports the balance as of the 5th of the month, 1 which usually reports as of the 1st Saturday in the month, 3 which report the balance as of each time the account zeroes out). With these, too, there is no rule of thumb for when the bureau actually gets the information.

Unless you're subscribing to something with daily updated reports such as experian.com's Credit Watch, you're just not going to know when the balances were picked up by the bureaus.

[Anonymous]

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@gdale6 wrote:

Not all CR updates are triggers for monitoring services. There is a page on what triggers updates to scoring if this is a myFico monitor service you are speaking of.

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It's not, I was using Experian's credit monitoring system - which gives daily updates. That way, I could track what happened on what days and I knew when updates appeared vs when they were reported. 

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Good Morning, I've noticed an interesting phenomenon in my credit reports lately. For my revolving accounts, the monthly balances are reported to the CRAs on a certain date, and are usually factored into a new credit score on the very next day. I'd say that this happens about 95% of the time, but every so often an update will take a week or two to appear actually appear on the credit report. So, for example, an update that is reported on the 25th and normally appears on the credit report on the 26th, will suddenly take much, much longer to appear - but, when it does appear, it still shows that it was reported on the 25th.

With installment accounts, it's even stranger. They will do the same thing, but are far less predictable. One loan will report and update the next day, and another, reported on the same day, will take a week and a half. Then, the following month, the two will switch, and one will be late while the other will be immediate. This appears to happen across the CRAs. Again, even for those that update later, they still show as having been reported on the normal date. 

I'm just curious if this is normal and, if it is, is there any particular reason why this happens. Not that it matters, I'm just curious!

Thanks (: 

---

Most lenders report the balance on a revolving account as of the statement date, but there is no rule of thumb for when they will notify the credit bureau of that balance.

Most lenders report the balance on an installment account or of a revolving line of credit as of the last day of the month or the first day of the month, but again there is no rule of thumb as to when they will let the credit bureaus know.

I have some revolving accounts which report differently (1 which reports the balance as of the 5th of the month, 1 which usually reports as of the 1st Saturday in the month, 3 which report the balance as of each time the account zeroes out). With these, too, there is no rule of thumb for when the bureau actually gets the information.

Unless you're subscribing to something with daily updated reports such as experian.com's Credit Watch, you're just not going to know when the balances were picked up by the bureaus.

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I see, that makes sense. I didn't know that it was like that - that the "report" date and the day it is sent to the CRAs weren't necessarily the same. I always assumed that they were, hence the word "report." So when it says X was reported on Y date, that's when the information was gathered, but not necessarily when it was sent to the CRAs? Facinating.

I was using Experian's daily credit report updates to do this, so I had day-to-day monitoring of updates.