When and how often do CRA scores update?

[Anonymous]

I'm new to all this and I don't understand how it works. Do FICO scores update on a regular schedule? Do they simply update when file changes prompt an update? Do all three credit bureaus update at the same time? Any insights you can share with me would be appreciated.

[LShawn08]

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@Anonymous wrote:

I'm new to all this and I don't understand how it works. Do FICO scores update on a regular schedule? Do they simply update when file changes prompt an update? Do all three credit bureaus update at the same time? Any insights you can share with me would be appreciated.

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As far as I understand they update in increments of 30,60 and 90 days time.

[Anonymous]

Your files can change at any time, whenever a furnisher provides new information. You scores will change accordingly along with any file changes.

[Anonymous]

Ok. Thank you.

[Anonymous]

To piggyback on this topic, I recently opened a secured loan to try to bolster my file.  In October all 3 CRA updated, dropping me several points.  In both November and December Equifax and TU have updated as my CC balance went up and down a few dollars (and they each bumped me 11-12 points during those 2 months), however Experian has not updated.  Experian dropped me 15 points in October when I opened this loan (the other 2 dropped 4-5 points), so it kind of bugs me that they aren't updating, therefore my score can't bounce back and improve like it did with Equifax and TU.  It seems odd that the account balance changes that triggered updates with TU and Equifax wouldn't also trigger updates with Experian.  I guess Experian is just lagging on updating my file.

[Anonymous]

Its probably NOT Experian that is at fault (did I really just say that?) - its likely the fault of who is reporting the info to Experian. Its not uncommon for monthly reporting data to occassionally get 'missed' or lost in the shuffle so to speak. Experian will probably see the changes on your CC's next reporting cycle.

[Anonymous]

Thanks for the insight. It just seems odd that 2 months in a row Experian missed the balance changes that were caught by Equifax and TU. If they don't update again next month should I try to see if my CC and secured loans can resend that information to Experian, or maybe call Experian myself?

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@Anonymous wrote:

Its probably NOT Experian that is at fault (did I really just say that?) - its likely the fault of who is reporting the info to Experian. Its not uncommon for monthly reporting data to occassionally get 'missed' or lost in the shuffle so to speak. Experian will probably see the changes on your CC's next reporting cycle.

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[Anonymous]

I have also heard it said the creditors actually have to PAY for the privelidge of reporting to the CRA's - so it may be that they do not report to all CRA's every single month as a cost control measure.