timeliness

[Anonymous]

How long after you pay off a credit card should I expect my credit report to reflect the 0 balance?

[Junejer]

Give it a good 30 days.

Edit: Hi and welcome to the forum. If you haven't already done so, please read Credit Scoring 101 and the abbreviations "stickies". This places rocks and you will learn a lot about credit by reading and taking the advice of others who have been where you are.

Message Edited by ByrdMan on 03-06-2008 12:40 PM

[mrsgrits]

It may be more than 30 days. It depends on when you order your FICO score and other factors. I've noticed that when I wait for a renewed score, it shows the new balance from the month before or it may show the last new balance.

For example, if I receive a new credit score in March, it can show new balances from March and/or February (but mostly FEB). This is because the CCC may not report the new balance to the CRA  until the new balance has posted on the account. Even though you have a $0 balance now, the CCC may not report it until the new billing cycle (new balance shown). Also, in some cases, it may take up to 2 months depending on the CCC.

Another note I want to through out there is if you have been carrying the previous balance for a while and are finally PIF, then when the new balance is available it may show interest that has accrued.

For example, if you have a $200 balance and you have been carrying it for a while (it depends on the new billing cycle date) and you PIF. You may accrue $5 on the account, so when the new balance due is updated it could reflect $5 instead of the $0 you were hoping for.

All in all, it depends on the dates of the CCC and CRA and when you decide you want an updated credit score.

If this still confuses you, just let me know. I can answer any questions you may have on this subject.

[Anonymous]

Hi reeder and welcome to the forums!

As ByrdMan says a general rule of thum is 30 days. But it also depends on who the creditor is.

I have one account that has not updated since December.     But I think that's the exception.

Some do it instantaneously, some once a month, and then some are very sluggish in reporting.