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Updated Information on the accounts.

Sybenett
New Visitor

Updated Information on the accounts.

Hi everyone I have recently reduced all of my accounts to zero balances, bui I noticed on my reports there has been no updated inrformiton since April, when sdo the bueaus update their information regarding your activity on your accounrts?

Message 1 of 3
2 REPLIES 2
laz98
Senior Contributor

Re: Updated Information on the accounts.

for the most part, your accounts should be reporting every month.  sometimes store cards don't report though, when you have a zero balance.  where did you get your reports at?

Message 2 of 3
RobertEG
Legendary Contributor

Re: Updated Information on the accounts.

The CRAs update within a week or so of receipt of informtion from the creditors. All they need is business time to verify and match the reporting with your credit file, and to then post it to your credit file.  They are pretty prompt in doing that, but delays are inevitable.

Creditors are a different story, 
They are NOT requried to report updates on any set schedule.

Most update monthly.  Some update quarterly.  Some dont update at all.

The only limitation placed on creditors is that, when they report, it must be accurate.

I suspect that the delay is not due to CRA delay, but rather due to lack of updating by the creditor.

 

Message 3 of 3
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