I am getting ready to apply for a mortgage and noticed that I had a single late payment on my credit report from May 2018. It was the last payment I made to close an account with Synchrony... for the amount of $4. I requested a Goodwill adjustment and was delighted to receive a letter on January 30 confirming Synchrony approved my request.
It’s now March 5, and the late payment is still on my report. I check almost daily.
My question is: how long does it typically take for the credit bureaus to update a credit score after receiving a Goodwill request? I successfully made one other Goodwill request a few years ago and remember my score was updated within a week or two.
Any feedback would be appreciated! I’m not very patient!
@jjadod wrote: My question is: how long does it typically take for the credit bureaus to update a credit score after receiving a Goodwill request?
The credit bureaus don't update scores, they update reports with whatever information is provided to them. Typically this happens very quickly usually within a couple of days of receiving the [updated] information. It sounds like you're going on 4-5 weeks at this point, which is an issue. I would contact Synchrony and request another reporting of the account. In the meantime you could also send a copy of your Jan 30 letter indicating the removal of the negative item to the 3 bureaus and ask that they update the account as indicated in the letter from the creditor. If Synchrony fails to get the account updated within the next week or two, I'd file disputes with the CFPB and/or BBB and provide them (upload) a copy of your letter. That will put the pressure on Synchrony to make good on their promise in a timely manner.