Please Help my Credit Sanity!?

[Anonymous]

Hey All,

I have been gardening for some time now, and I am a bit perplexed by the MyFico app and the product provided.  I currently subscribe to the 3b package and receive updated scores and updated 3b credit reports every 3 months.

Recently I was at a UR of % or so, and decided to pay down some debt.  The strange thing is my cc score didnt move, whatsoever... a few days passed and I thought this can't be as I had paid down my existing debt by 50%.  Two weeks went by and radio silence, not a peep from the app.  Then all of a sudden my chase card and my capitalone card reported in and i got a few points from each bureau.  So knowing account balance changes "should" effect the score, I figured what the heck and paid some more down.  I brought a low balance Chase Slate down to 0... and I get +4 from equifax.  Awesome right?  Well today I received  ding from them for -4 for having a balance on this card, which is not even accurate!  I checked my account and the balance represented is from 2 weeks ago...  This is an uphill battle if I ever seen one!

What gives?  The app is telling me my balance is $6K plus on all cards, when I paid over 4k 2 weeks ago and my total balance is less than 2k.  I am just at a loss here, and wanted to believe in this product and app, and still want to.  Can someone clarify what could be happening?  Should I be more patient? Do diff lenders reports more frequently than others?

I currently have Amex : 15K, Chase Freedom : 10K, Capital One : 10K, Chase Slate : 6.3K, DiscoverIT : 5.5K... Totalling 46.8K avail, Total Util @ 8%.

Current scores : EQ : 681 TU : 699 EX : 740 

I am really trying here to raise my credit score, and it just isnt happening. 

[Anonymous]

Yes, different lenders report differently than one another. All of your cards will report after the statement cuts (some report other times, but yours are all 'normal'). So if your statements cut (close. generate.) on the 10th, then you'll see those hit myFico on the 11th or 12th. In addition, Chase will report mid-cycle automatically if you pay a particular account to $0. So if you owed $100 on your statement on the 10th, and that was reported, then you paid it off on the 12th, Chase would report again a day or two after the 12th. Discover will do a mid-cycle update on request. I'm not certain if it's for any payment or only if you've paid to $0. 

[Anonymous]

This is great to know, so thanks!  I paid down the freedom card from 3500 to 1700 and it wasn't mentioned once by any of the 3.  Any clue why that would be? Or why each credit agency is reporting in accurate totals?  

[SouthJamaica]

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@Anonymous wrote:

Hey All,

I have been gardening for some time now, and I am a bit perplexed by the MyFico app and the product provided.  I currently subscribe to the 3b package and receive updated scores and updated 3b credit reports every 3 months.

Recently I was at a UR of % or so, and decided to pay down some debt.  The strange thing is my cc score didnt move, whatsoever... a few days passed and I thought this can't be as I had paid down my existing debt by 50%.  Two weeks went by and radio silence, not a peep from the app.  Then all of a sudden my chase card and my capitalone card reported in and i got a few points from each bureau.  So knowing account balance changes "should" effect the score, I figured what the heck and paid some more down.  I brought a low balance Chase Slate down to 0... and I get +4 from equifax.  Awesome right?  Well today I received  ding from them for -4 for having a balance on this card, which is not even accurate!  I checked my account and the balance represented is from 2 weeks ago...  This is an uphill battle if I ever seen one!

What gives?  The app is telling me my balance is $6K plus on all cards, when I paid over 4k 2 weeks ago and my total balance is less than 2k.  I am just at a loss here, and wanted to believe in this product and app, and still want to.  Can someone clarify what could be happening?  Should I be more patient? Do diff lenders reports more frequently than others?

@I currently have Amex : 15K, Chase Freedom : 10K, Capital One : 10K, Chase Slate : 6.3K, DiscoverIT : 5.5K... Totalling 46.8K avail, Total Util @ 8%.

Current scores : EQ : 681 TU : 699 EX : 740 

I am really trying here to raise my credit score, and it just isnt happening. 

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It's got to do with timing.  The balance that's going to be reported is the statement balance. It varies widely as to when, after the statement cuts, the statement balance will be reported. So you just need to be more patient. If you bring your balances down, and bring the number of cards reporting balances down, you will see results. But it's a monthly thing, not a daily thing.