I there a delay between when something is reported on your report, and when you can actually see it?

[Anonymous]

We have been preparing to purchase a home.  Our #1 goal has been greatly reducing our DTI.  This included paying off 1 vehicle, refinanicng another, and addin 2 consolidation loans for all CCs.  So far this has cut our current DTI in half.

The problem is waiting patiently for all the CC balances to zero out and the consolidation loans to show up before we pull our credit, as we don't want to have any "surprises" show up when credit is pulled a 2nd time just before closing.  

Is there a delay in being able to view changes to your accounts after they have actually been reported?

For over a month we patiently waited for one of our vehicles to show as paid.  When we were finally able to see it on November 3rd, it says it was reported to the credit agencies (all 3) on October 2nd.  

The other vehicle showed up 10 days after it claimed to have been reported.  

A couple credit cards are now a week past the date they usually show as reported in other months, and there are a couple properties we are very interested in persuing, but need to wait for this mess to clear.  

I use a variety of services to stagger checking my credit, and also wallethub which is supposed to update daily.  CreditKarma I have noticed that even though they state it updates weekly, it will often update sooner, sometimes daily, if there are large changes to your report.  Both of those services have not noticed any changes to ANY of 15 accounts since October 25th (referencing the reported dates, not the dates we have seen the changes).  MyFico did notice one account with a $38 balance reduction the day it was reported, and improved one score 3pts.  While this is great and all, it is my massive balance cards that are not showing up and seem to be way past due for reporting.

Thanks in advance for any help figuring this out.  

[Anonymous]

Yes, there can be a delay from when something is reported to the bureaus and when that change is reflected and visible on your CR.  Typically this lag is only a couple of days, though.

If you are waiting for balances to update on your accounts, a loan to report paid off, etc. I'd suggest calling each lender and requesting an off-cycle reporting.  They are usually 50/50 on whether or not they'll do it.  Basically you're just asking them to go ahead and report now rather than wait until the typical date of the month that they report.  Again, it could be several days from the time they report until the change is seen on your CR, but getting the ball rolling sooner sounds as if it may be some benefit to you at the current time.

[RonM21]

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@Anonymous wrote:

Yes, there can be a delay from when something is reported to the bureaus and when that change is reflected and visible on your CR.  Typically this lag is only a couple of days, though.

If you are waiting for balances to update on your accounts, a loan to report paid off, etc. I'd suggest calling each lender and requesting an off-cycle reporting.  They are usually 50/50 on whether or not they'll do it.  Basically you're just asking them to go ahead and report now rather than wait until the typical date of the month that they report.  Again, it could be several days from the time they report until the change is seen on your CR, but getting the ball rolling sooner sounds as if it may be some benefit to you at the current time.

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+1

I rarely have seen info show up on my reports as quickly as the lender date the the info was submitted.  This goes for all 3 bureaus.  Maybe within a day on some things, but usualy a few, and sometimes even longer depending on circumstances. 

[Anonymous]

Thanks for the info.  I wonder if large payoff amounts or abnormal account changes might delay the information released to make sure the reporting is correct?  Or in my case maybe it is expecting consolidation loans to show up as I paid off a $21k CC with them, and this gives more time to prevent any gap in my overall credit picture? (In that case, the joke is on them as the consolidation loans are through my spouse and won't be on my personal credit)

In any case we are waiting for both of our credit reports to show everything before proceeding.  If it is much longer I will contact the CC companies to see if they have reported, as most have passed the normal reporting date.  

I doubt that I will be able to contact the consolidation loan companies and have them add the accounts to our report?  I am guessing they will need at least one payment first.  Since these SHOULD be the last thing reported to our reports, and it may be a while, I guess I will just try to sit tight and trust the process and watch my other balances zero out and see where my score goes from there.  My patience says otherwise!  

[Anonymous]

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I wonder if large payoff amounts or abnormal account changes might delay the information released to make sure the reporting is correct?   

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I don't believe that's the case.  All data whether small or large is equally important in terms of accurate reporting and it's just data after all, so nothing should take any longer than anything else.

[iv]

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@Anonymous wrote:

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I don't believe that's the case.  All data whether small or large is equally important in terms of accurate reporting and it's just data after all, so nothing should take any longer than anything else.

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Size doesn't matter... 

...but "standard" vs "non-standard" payments can matter, sometimes.

A payoff-and-close, for instance, can end up reporting either immediately (vs regular monthly statement date), or could take an extra 2-3 months to report, depending on the lender and loan type. (I've had both happen at various times...)

Anything handled separately from the normal automated monthly statement/report cycle may end up reporting at a non-standard time. YMMV.