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How long until the bureau reports to MyFico after getting new information?

mada
Member

How long until the bureau reports to MyFico after getting new information?

I'm just curious to know what the time frame is between the credit bureau receiving updated account information, and the bureau reporting that new information to MyFico/Credit Karma etc.

 

For clarification, I'm not curious about when the lender reports, because I know the lender has already reported to all 3 bureaus.

 

Basically here's my situation.  I've had a charged-off auto loan on my credit report since about 2010... I paid it off IN FULL a couple weeks ago.

 

I contacted the bank directly and had them look into my file, they said my charged off account has been reported to all 3 credit bureaus on the 21st of this month, So my main question is how long until Credit Karma, and MyFico will receive this new information from the credit bureaus?

Message 1 of 7
6 REPLIES 6
Sneakytiki
Frequent Contributor

Re: How long until the bureau reports to MyFico after getting new information?

I don't know if this helps but TU (Credit Karma) usually reports the slowest for me. It's consistently around 5 days after my statement dates. Experian is really quick at 2 days and Equifax usually takes 3 or 4 days.

That's just my stuff though. Those are usually consistent with my Credit Cards, Auto Loan and Student Loans. With my collections it took about the same amount of time after reporting to update.

 

I forgot to add, I'm still waiting for myFICO to update with the scorewatch so I'm not sure how their monitoring works since it should be a 15-20 point increase for my TU score.

 

I do daily pulls from USAA to monitor my accounts since I'm rebuilding and those were the time frames I've noticed with my reports.


Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588||
Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||




Message 2 of 7
mada
Member

Re: How long until the bureau reports to MyFico after getting new information?

I must be one of the select few whom it doesn't process for within 7 days! lol.

 

I called the bank and they told me they reported the paid in full information to the credit bureaus on the 21st of this month.

 

Credit Karma updated today (It's been 10 days since the bank supposedly reported to the bureaus), and still nothing.

 

If I just call the CRAs will they be able to look into if it's at least being processed and just not updated in my report or should I open a dispute?

Message 3 of 7
Glock34girl
Established Member

Re: How long until the bureau reports to MyFico after getting new information?

Hey-

I was talking to my loan officer and she said all of the CAs have to update on 10th... I'm not sure if that helps. I suppose there are a few days after they update till it hits all the monitoring sites.
There are days that I feel the best of me is ready to begin, then there are days when I am letting go and soaring on the wind.
Message 4 of 7
mada
Member

Re: How long until the bureau reports to MyFico after getting new information?

Really, they all report on the 10th?  I've never heard of such a thing.

 

Is that a deadline or just a common practice?  I've certainly seen my credit reports updated more than once in a month, not sure what you mean by they have to report by the 10th.

 

I might have learned something new just now, but I would like more information on that if you have it.

Message 5 of 7
takeshi74
Senior Contributor

Re: How long until the bureau reports to MyFico after getting new information?

CRA's update as they receive updates from creditors (it generally takes them several business days to update) but that's not the topic of this thread.

Message 6 of 7
mada
Member

Re: How long until the bureau reports to MyFico after getting new information?

Well I called 2 of the 3 bureaus (Experian is not open yet Smiley Happy )

 

I told them that the bank told me they reported my paid in full charge-off account to the bureaus on August 21st, I asked them if there was a pending update or anything being processed in regards to the charged-off account, they said they don't see anything on my account.  So both of them opened a dispute on my behalf.  I will get to Experian in an hour or so.

 

I find it obnoxious that my creditor (TD BANK), told me they reported my updated charge-off account on the 21st, but they never did.  The bureaus would have shown something as pending or being processed if they had received information that had not made it to my credit report yet.

 

Last time I disputed this account (the payment history was showing incorrectly, and was updated), it was corrected within 5 days, so hopefully these disputes happen just as quickly.

 

I'll let everyone know the results when I get them!

Message 7 of 7
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