Inacurrate credit utilization on current CRA reports and score

[TeeGee]

I've worked really hard on my credit in the last year and to date my Experian is 702 Equifax 719 and TU 712 (all fico dot com).  

I keep get the message in every report: "your credit is average, what's hurting you is the amount of your credit utilization - 36%".  Plus (on transunion) they have me showing a short credit history, ignoring my paid off car loan beginning in 2005.  The credit utilization is not accurate; to date my utilization is about 19%. Granted, these balances have been in effect for only about 2 weeks, so maybe the CRA's haven't updated.

My first question is, if I applied for credit this very minute, would a creditor see the actual current balances and subsequent better score or would they see whatever the current score is according to the CRA's latest update.  The Transunion score is today's score, with inaccurate balances on my cards.

Second question, can I write Transunion and ask why they are ignoring my car loan or do I have to contact my old credit union and ask them to report to tranunion? 

thanks in advance!!

[IamB2]

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@TeeGee wrote:

I've worked really hard on my credit in the last year and to date my Experian is 702 Equifax 719 and TU 712 (all fico dot com).  

I keep get the message in every report: "your credit is average, what's hurting you is the amount of your credit utilization - 36%".  Plus (on transunion) they have me showing a short credit history, ignoring my paid off car loan beginning in 2005.  The credit utilization is not accurate; to date my utilization is about 19%. Granted, these balances have been in effect for only about 2 weeks, so maybe the CRA's haven't updated.

My first question is, if I applied for credit this very minute, would a creditor see the actual current balances and subsequent better score or would they see whatever the current score is according to the CRA's latest update.  The Transunion score is today's score, with inaccurate balances on my cards.

Second question, can I write Transunion and ask why they are ignoring my car loan or do I have to contact my old credit union and ask them to report to tranunion? 

thanks in advance!!

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Sorry I don't have an answer to your second question, but the first question is that your creditors will pull whatever was the last balance reported to the CRA. So if your new balances have not reported yet, then when you apply they will get the same thing you are seeing now. I would wait a little before applying.

Best of luck!

[ecxpa]

With regards to having your lender report to TU.....some lenders don't report to all CRA's especially local lenders.  YMMV I had an account that reported only to EQ years ago and asked that they report to the other two, they wouldn't because they said they didn't have an account with TU and EX.

[takeshi74]

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@TeeGee wrote:

The credit utilization is not accurate; to date my utilization is about 19%.

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Your reported utilization is probably correct.  Balances don't instantly update.  Most cards report at statement close and it takes several days for the CRA's to update.  Keep that in mind if you're adjusting reported utilization in anticipation of a credit app.

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@TeeGee wrote:

My first question is, if I applied for credit this very minute, would a creditor see the actual current balances and subsequent better score or would they see whatever the current score is according to the CRA's latest update.

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They see whatever is on the report when they pull.  The CRA doesn't pull your current balances for that specific point in time.  Your creditors report to the CRA's and that's how your reports get updated.  The CRA's don't request this information from your creditors.  Whatever the most recent reported balance is the correct reported balance even if it's not your current balance for a given point in time.

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@TeeGee wrote:

Second question, can I write Transunion and ask why they are ignoring my car loan or do I have to contact my old credit union and ask them to report to tranunion? 

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You'd need to contact the creditor (creditors report to the CRA's, CRA's do not pull info from creditors).  As stated above, creditors don't always report to all 3 CRA's.

[Imua]

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@ecxpa wrote:

With regards to having your lender report to TU.....some lenders don't report to all CRA's especially local lenders.  YMMV I had an account that reported only to EQ years ago and asked that they report to the other two, they wouldn't because they said they didn't have an account with TU and EX.

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my CU reports my overdraft LOC only to EQ and EX, not to TU.