Bad Credit Score - High Credit Usage

[Anonymous]

Does anyone know how to help me fix my problem.  In 2010 I maxed most of my credit cards out because of my wedding, but I've spent the last 3 months paying off thousands of dollars of debt.  The reduced balances are not yet showing on my credit report because some of the payments were made in the last 30 days.  I need to buy a vehicle in the very near future but don't want to apply for a loan because my credit score is still so low.  That's the only thing that's pulling my credit score down.  Does anyone have any ideas on how to fix this quickly?

[llecs]

Welcome to the forums!

Most creditors only update to the credit reports one time per month and they'll do that typically around your statement date. Most will report the balance you were carrying on that statement date. There are a few oddballs that do things a bit differently like US Bank or some HSBC products.

[cdtotten]

You will have to wait for the new statement to cut and it to be reported to the bureaus. After the statement cuts, it usually takes 1-2 days to be reported to bureau, then each bureau takes different amounts of time to post. EX usually posts within 24 hours, EQ next in 2-3 days, TU last at 5-7 days typically.

If any of your cards are AMEX, they always report 1 month behind, so will take a lot longer.

Unfortunately no, there is nothing you can do to speed up the reporting time. You'll just have to be patient until next month.

[Anonymous]

Thanks for both replies!