Has anyone else noticed this?
I have seen it happen multiple times recently. It first happened when I applied for new credit. And my experian score immediately dropp while TU and Equifax took almost a full month to update.
i just noticed it again when one of my cards billing cycles closed. the day after my cycle closed, experian had already sent me an update saying my util ratio changed and I received 4 additional points. The other 2 haven't moved.
The speed of updates depends on when the financial institution reports to the bureaus. Some report faster to Experian, while others report faster to TransUnion or Equifax.
Edit to add: My two most recent new accounts reported to Equifax first (US Bank and Wells Fargo).
I wonder why that is? You would think they would report to all 3 at the same time, or at least very close. But a month difference? That seems extreme
@Cblough93 wrote:I wonder why that is? You would think they would report to all 3 at the same time, or at least very close. But a month difference? That seems extreme
Are you talking about when the report data updates at each bureau, or are you talking about when notifications are are sent out if you have opted in for "alerts"? My reply had to do with reported data. Alerts don't always coincide with changes to report data or score updates.
I am referring to the change In score itself.
so for example when I got approved for my cap one account. I got the alerts right away that I had a new inquiry. So I went to check and experian updated right away, the other 2 had not. So I kept checking and it eventually got to the point where I thought my TU and EQ scores just weren't affected by the inquiry. But then a month later, I got the point reduction on TU and EQ. So it was very delayed
@Cblough93 wrote:
I am referring to the change In score itself.so for example when I got approved for my cap one account. I got the alerts right away that I had a new inquiry. So I went to check and experian updated right away, the other 2 had not. So I kept checking and it eventually got to the point where I thought my TU and EQ scores just weren't affected by the inquiry. But then a month later, I got the point reduction on TU and EQ. So it was very delayed
Score changes, alerts, and report data updates do not always happen simultaneously. Many times, automated computer programs are run in batch cycles with different metrics running in separate cycles.
Inquiries usually only affect the bureau which was pulled, and inquiries are sometimes treated as part of a group (e.g. 0-1 inquiries, 2-4 inquiries, etc.) so no score change might occur if a new inquiry doesn't move you into a new grouping. I've personally had many instances where a new inquiry produced no score drop. On the other hand, a new account usually costs me at least a few points.
this situation I'm referring to was for cap one so they did their infamous triple pull so all 3 bureaus took a new inquiry.
Equifax took the biggest hit going from 0 (no new revolvers) to 1 inquiry. I could be wrong but I think the score hit from Inquries is similar to the score hit from late payments. You take a huge hit for the first one, but the subsequent inquiries/lates don't hurt you as much as the first one did.
TU went from 1-2
experian went from 2-3
but this was not the only instance in which experian updated way before the others. It's happened multiple times now. So I was curious as to why that is.
they are always first to send me the notification and always the first to change the score. I mainly used this capital one situation as my example because the length of time between each bureau updating their scores was so long. As mentioned, exp was instant and the other 2 took a month. So that's really what peaked my curiosity.
I find that Experian is always faster to send me a notification, but I have a paid service with them.
I don't have the paid service with TU or EQ, so only get notifications via 3rd party services on those two.
Unless it is a new account or hard pull credit check, it could be a few days before I get a notification about changes in TU and EQ.
@markbeiser wrote:I find that Experian is always faster to send me a notification, but I have a paid service with them.
I don't have the paid service with TU or EQ, so only get notifications via 3rd party services on those two.
Unless it is a new account or hard pull credit check, it could be a few days before I get a notification about changes in TU and EQ.
I believe this is the crux of the situation. It's not the speed of the data updates that's in question, but rather the speed of the notifications using the various associated Credit Monitoring Services (CMS).
@Cblough93 wrote:
this situation I'm referring to was for cap one so they did their infamous triple pull so all 3 bureaus took a new inquiry.
Equifax took the biggest hit going from 0 (no new revolvers) to 1 inquiry. I could be wrong but I think the score hit from Inquries is similar to the score hit from late payments. You take a huge hit for the first one, but the subsequent inquiries/lates don't hurt you as much as the first one did.
TU went from 1-2
experian went from 2-3
but this was not the only instance in which experian updated way before the others. It's happened multiple times now. So I was curious as to why that is.
they are always first to send me the notification and always the first to change the score. I mainly used this capital one situation as my example because the length of time between each bureau updating their scores was so long. As mentioned, exp was instant and the other 2 took a month. So that's really what peaked my curiosity.
Notifications are tied to specific Credit Monitoring Services (CMS) subscriptions. Depending upon the service used, alerts can be generated on different schedules. It sounds like you are most interested in the speed of the notifications rather than the speed of the bureau data updates or actual score updates.
As I said earlier, alerts aren't always published on the same schedule as bureau data updates or score updates. Bureau data updates occur after the financial institution provides new information. Scores update only when someone pulls a report from the bureau's data and runs a scoring algorithm against that data. CMS subscriptions each have their own sets of rules on what they monitor, how often they monitor, and when notifications should be sent. It's a case of apples versus oranges vs plums.