Incorrect Credit utilization

[Anonymous]

Hi all

I am considering app-ing for the AMEX BCE or BCP and my credit utilization is 5% but it is still showing 30-39% on the myFICO website. I recently paid a lot and brought it down a lot. It's not showing up yet I guess. Any ideas how long before it's completely updated? Should I wait for however long that is and then app or is it ok to app now?

TIA

[Anonymous]

I believe the normal reporting time is 3-5 business days after your closing date. I would wait until it reflects since 5% util is better than 30-39%. I know its tempting but just be patient, you're in a great position so no need to rush. Good luck!

[MrsCHX]

Over 30% is the "red" zone. Just wait. 

Over the last month I've subbed to Experian reporting ($5 for first 30 days) because I wanted to have an idea of how things update. It's my experience that EX and EQ are pretty quick, TU is slower. 

Most of my card utilization updated within 2 days of the statement date.  I had an erroneous late payment post in January. That biller submits updates to CRAs on the 7th of the month. I did not see that change until 2/19.