Reporting Cycle

[RKBAGUY]

How long after I pay my bills does it take for the updated FICO to take effect?

Back story: I'm applying for a mortgage in the coming week to ten days.  In times past, I've peaked in the low 800's, but I've been using my cards recently so at present I'm at 748/791/765 before applying.  Having paid them all down to zero (except my car loan), I'm wondering how long it would take for that to be reflected in new scoring?

Thanks in advance!

[Remedios]

If all of your cards report $0.00 balance, there is a scoring penalty.
It goes away if one of your cards report a small balance.
I'd wait with application till you have one card reporting, if you want to avoid that penalty.
$10.00 showing as statement balance will do.

[RKBAGUY]

Yes, I did forget about AZEO this time around.

That said, same question - how long does it take after the statements close for the reporting to reflect in the scores?

[Girlzilla88]

It can take 2-3 months depending on B

[Remedios]

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@RKBAGUY wrote:

Yes, I did forget about AZEO this time around.

That said, same question - how long does it take after the statements close for the reporting to reflect in the scores?

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Most lenders with the exception of US Bank report right after the statement date, so usually within a week to 10 days most balances will be properly reflected on CRAs

US Bank reports balances from last business day of the month, and then it takes a couple of days for them to report. 

So, I'd say on average within a week after they report (for each card)