How often do credit scores and reports update?

If you’re working hard to better your credit health, like paying down credit card balances or loans, you may be wondering when these positive actions will show up on your reports. Truthfully, there is no exact deadline or formula. However, there are some guidelines you can keep in mind.

When are credit reports updated?

Your credit reports are updated when lenders provide new information to the nationwide credit reporting agencies (Equifax, Experian, TransUnion) for your accounts. This usually happens once a month, or at least every 45 days. However, some lenders may update more frequently than this.

So, say you paid down a credit card recently. You may not see your account balance updated on your credit report immediately. If you look at the account in your TransUnion credit report, you may see a line that reads “Date Updated.” This would tell you the most recent day the account information was provided to TransUnion. You can get your credit report from each of the three nationwide credit reporting agencies weekly at annualcreditreport.com.

 

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