Updating Fico Score

[Anonymous]

Does your Fico score update everytime a transaction is reported.  Example: I have 3 credit cards and each one reports to transunion on a monthly basis. One reports on the 3rd of the month, the others are 15th and 28th. Would my Fico score be updated after each of these reported or does it only update once a month. If it only updates once a month is there certain day like the begining or ending etc. etcc.. ?   Thanks in advance...

cmpjohn

[MidnightVoice]

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cmpjohn wrote:

Does your Fico score update everytime a transaction is reported.  Example: I have 3 credit cards and each one reports to transunion on a monthly basis. One reports on the 3rd of the month, the others are 15th and 28th. Would my Fico score be updated after each of these reported or does it only update once a month. If it only updates once a month is there certain day like the begining or ending etc. etcc.. ?   Thanks in advance...

cmpjohn

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Sort of.  Your score only exists when someone asks for it.  So everytime you (or someone else) pull a score, it calculates the score that day.

[Anonymous]

Hi john, welcome to the forum. Here you will find a wealth of information to help your credit grow.

It depends on the credit grantor. Some ccc's report only monthly. And those that do report it like x # of days after your statement date. While others report monthly activity on the last weekday of the month.

Hope that helps.

Message Edited by Sylviatob on 11-26-2007 02:24 PM

[Tuscani]

Welcome.. Please read the Scoring 101 thread:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654