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MyFico Not Updating Utilization & Total Balance

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Anonymous
Not applicable

MyFico Not Updating Utilization & Total Balance

I recently refinanced my mortgage and paid off almost all of my credit card debt. I recently subscribed to the MyFico service and noticed that all 3 bureaus are showing that my balance has decreased by "x" percent for each card that was paid off, and my score has gone up substantially. However the dashboard that shows Utilization/Total Balance/Account With Balance has not updated for any of the providers, they all show the same utilization number that has not updated since I paid everything off (they all show 78% utilization while it should be under 10%). I paid off the cards on March 15 and am stuck with scores hovering around the 760 mark - the "Amount of Debt" rating is still fair while all the other metrics show as very good or exceptional.

 

I'm planning to purchase a car soon and want to ensure I get the best rates. My Credit Karma account shows scores above 800 and has updated to show my utilization below 10%. Is something wrong with MyFico? Do I need to file disputes with all 3 credit bureaus? I'm getting frustrated that it has been almost a month since everything was paid down yet I'm still being penalized for this, I appreciate any help or guidance with how I should handle this, thanks in advance!

Message 1 of 3
2 REPLIES 2
Remedios
Credit Mentor

Re: MyFico Not Updating Utilization & Total Balance

If you bought one time report, that particular section won't update, it's snapshot in time. 

If you need to continuously monitor, you will need additional report/subscription. 

 

It's like Fico Advanced, you get updates on Fico 8 classic scores, but rest of data stays static untill next pull is available (every 90 days)  

 

 

 

Message 2 of 3
Anonymous
Not applicable

Re: MyFico Not Updating Utilization & Total Balance

Thanks for the reply, I paid for the $30/month subscription so I assumed it would update. Thinking I'm going to cancel that subscription at this point.

Message 3 of 3
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