Transunion Lag ?

[Anonymous]

I am reducing my credit utilization significantly as we are trying to get approved for a mortgage.  We are relatively new to the US (2 yrs) with 18 months of credit history.  No negative items.

Our utilization was at 85% (on $16K of available credit) as we had just put a Xmas Disney vacation on our card, and it drove our score down to 635 median, and were not eligible for a mortgage.  Beyond our credit cards we also have a car lease with 18 months of on-time payments reporting.  We have since paid all cards down and utilization is at less than 30% and hoping to see a jump (hopefully significant) in the scores once they all report.  Credit simulators on Credit Karma and Capital One show that we could move into the 700's

I've been following Credit Karma and it looks like Equifax has the updated balances 2-3 days after the statement date, but Transunion does not ...

Question:  Does Transunion usually take longer to update their information ?  If so, any idea how long as it impacts our mortgage apply date ?

Question:  I know simulators offer skewed advice and use vantage, not fico ... are we safe to assume we can see a 40 - 80 pt bump with the significant reduction in our utilization ?

Thanks in advance ... .

[baller4life]

EX is usually first to update. Then Equifax a day or two later. Then finally Transunion. So expect up to a week after statement cut to see new balance on Transunion. You cannot trust CK scores AT ALL. But going from 85% to less than 30% util should produce significant score jump. Just hard to say how much.

[KSK1912]

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@Anonymous wrote:

I am reducing my credit utilization significantly as we are trying to get approved for a mortgage.  We are relatively new to the US (2 yrs) with 18 months of credit history.  No negative items.

Our utilization was at 85% (on $16K of available credit) as we had just put a Xmas Disney vacation on our card, and it drove our score down to 635 median, and were not eligible for a mortgage.  Beyond our credit cards we also have a car lease with 18 months of on-time payments reporting.  We have since paid all cards down and utilization is at less than 30% and hoping to see a jump (hopefully significant) in the scores once they all report.  Credit simulators on Credit Karma and Capital One show that we could move into the 700's

I've been following Credit Karma and it looks like Equifax has the updated balances 2-3 days after the statement date, but Transunion does not ...

Question:  Does Transunion usually take longer to update their information ?  If so, any idea how long as it impacts our mortgage apply date ?

Question:  I know simulators offer skewed advice and use vantage, not fico ... are we safe to assume we can see a 40 - 80 pt bump with the significant reduction in our utilization ?

Thanks in advance ... .

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Utilization will make a huge difference. Especially when you go under 20% In your case the best thing to do, since you are about to get a mortgage, forget about all CK and Cap One, which i use too only because it is free, spend the best $30 in your life and get a membership from myfico. Their service can not be matched by any other as this is where your Fico score is born and raised Their score simulator is very accurate. You also get not only your fico, but your mortgage scores too. I just applied for mortgage, and what i see at myfico mortgage score, and what came up on my application is an absoluta 100% match including the scores. This way, i can see every little change, not only to my credit report or my fico score, but to my mortgage score too.

To answer your TU question, i have the same problem, transunion is coming from waaayyyyy behind. They are not taking too long, but for eeevvveerrrr to update the information. This is almost mid october and i still have accounts that were last updated in august. So hopefully yours will come fairly quick, but dont panic, TU can take forever.

[Anonymous]

One of many posts about TU "delays"

http://ficoforums.myfico.com/t5/General-Credit-Topics/My-TransUnion-is-taking-extra-long-to-update-m...

[Anonymous]

EX and EQ are quick with updating but TU is slow. I still have a balance showing on one of my account for about close to 2 month now but they should be ZERO balance.

[takeshi74]

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@Anonymous wrote:

Does Transunion usually take longer to update their information ?

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Take a look:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=tu%20slow%20site%3Aficoforums.myfico.com&es_th=1

That said, the slowest CRA can vary from person to person.  You'll find posts that vary but discussions on TU being slow are common.  Best way to answer your questions is to monitor your reports and determine what the trends are for you specifically. 

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@Anonymous wrote:

I know simulators offer skewed advice and use vantage, not fico ... are we safe to assume we can see a 40 - 80 pt bump with the significant reduction in our utilization ?

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That's incorrect.  There are many simulators out there, not just ones for VantageScore.  That said, be careful relying on any simulator.  No one simulator can accurately simualte all the various FICO models.  If you're applying for a mortgage you need to be looking at the FICO's used by mortgage lenders and not FICO 8's if that's what you're looking at.  See also the Understanding FICO Scoring subforum and its stickies.

It's certainly possible to se significant scoring gains from significant drops in revolving utilization but we can't tell you that you will see X point or X-Y points.

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@Anonymous wrote:

We have since paid all cards down and utilization is at less than 30%

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30% is a suggest max as in "do not exceed".  Lower is generally better as long as you don't have all 0 balances reporting.  If you want every possible point to apply for a mortgage then allow only one balance to report at 10% or less -- 1% if you're really squeezing.

[ddemari]

TransUnion is definitely the slowest. For example, I paid off my Barneys NYC Card to a zero balance from 1000. Due date is the 1st, statement cuts on the 5th. By the 7 and 8th EX and Eq are updated, it will take until the 17th ish for TU to report the 0 balance.