Might be obvious question

[Anonymous]

Sorry if this is common knowledge, but with using the Fico App, one there is a score change, do lenders see that score the same day if you app for something.

IE: wake up one day and score went from 680 to 720 (hypothetical), if you applied for something that minute, do companies see that new score or does it take some time to “set in”?

Thanks!

[Anonymous]

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@Anonymous wrote:
Sorry if this is common knowledge, but with using the Fico App, one there is a score change, do lenders see that score the same day if you app for something.

IE: wake up one day and score went from 680 to 720 (hypothetical), if you applied for something that minute, do companies see that new score or does it take some time to “set in”?

Thanks!

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Lender's are pulling your most up to date reports. So if today your score when from 680 to 720, when you go apply for your loan tomorrow they will see the 720 score. Regardless of what your app says.

[Anonymous]

I can tell you this much. Every time I have a HP on Experian and when a new account reports on Experian, Chase and AMEX immediately SP.

[pipeguy]

Yes and no - when you see an updated score that is what your CRA score says right now (it'll vary by each CRA) but that score is not automatically sent to those accounts that populate your credit report. If a tradeline does an AR (soft pull) which many do on a regular basis, they'll see the new scores OR if you app for new credit the lender will see your current score, which was updated assuming they pull from the CRA that updated your score as reported by the MyFICO update. ie: If MyFICO says your TU score has updated from 680 to 690, but EX and EQ have not updated yet and you app, if the lender pulls TU it'll be 690, if they pull EQ/EX it will still be 680 or whatever it was.

[pipeguy]

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@Anonymous wrote:

I can tell you this much. Every time I have a HP on Experian and when a new account reports on Experian, Chase and AMEX immediately SP.

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donny, that has not been my experience - I have 3 Chase accounts and 1 low-level-limit AmEx (2 others on the AmEx network, not the same I know). AmEx AR's every 3 months, I'd have to check on Chase but there are not many other than for CLI's which never work.