Credit Report Question

If I paided off my credit card - how long will that take to show on my credit report. Or how long until my score adjusts? I dont even think it will change that much but just curious if anyone has noticed changes and how fast?

I am just dying to pull it but DH keeps saying to wait!

Re: Credit Report Question

It really all depends on the report agency. The credit card company will likely show it as paid in the next month, but if the credit reporting agency doesn't update your record, it won't show yet. If you are looking for a mortgage or something, just keep your next bill which says your balance is zero to show as proof that it's paid off. I had somethingon my credit report that wasn't mine (my sister's car got on there) and I had it removed but it hasn't been updated yet and its been 3 months. So I just have the letter from Toyota saying its not my car to show to banks until then.

Re: Credit Report Question

I would wait at least 30 days. I was told all 3 agencies report on the same day of the month (but it's not the 1st) something like the 15th. It's definetly not going to be immediate.

Re: Credit Report Question

Ok thanks for the help girls. That is what I thought!

Re: Credit Report Question

MAKE sure that you stay on top of it. Tilde told me about a show on showtime about how credit card companies sometimes don't take it off because they just hope you won't notice. It might still be on, it talks about all these things they do.

Dh recently paid off all his credit cards. MOST of them already came off. Some already showed on his statement the following month while others are still on there. Credit card companies actually don't like you paying off your cards although they'll harrass you about it Dh even had 1 credit card he paid in full and they said it was on hold after he paid it. They said they had to review it or something

also make sure you check your credit report yourself if youre waiting for it to go up and just checking. I kept making DH check it himself before we went to the mortgage broker to let him know since they take off points if they check it

Re: Credit Report Question

I agree with Espo. You have to stay on top of them. The thing with my sister's car was disputed in May but its STILL on my credit report as of today (I checked after this htread got me thinking.)

Re: Credit Report Question

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Posted by Espo22

MAKE sure that you stay on top of it. Tilde told me about a show on showtime about how credit card companies sometimes don't take it off because they just hope you won't notice. It might still be on, it talks about all these things they do.

Dh recently paid off all his credit cards. MOST of them already came off. Some already showed on his statement the following month while others are still on there. Credit card companies actually don't like you paying off your cards although they'll harrass you about it Dh even had 1 credit card he paid in full and they said it was on hold after he paid it. They said they had to review it or something

also make sure you check your credit report yourself if youre waiting for it to go up and just checking. I kept making DH check it himself before we went to the mortgage broker to let him know since they take off points if they check it

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The name of the show is Maxed Out and it is on Showtime on Demand and they also have it on Netflix. Everyone should watch it!

Re: Credit Report Question

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Posted by carolinebr

I agree with Espo. You have to stay on top of them. The thing with my sister's car was disputed in May but its STILL on my credit report as of today (I checked after this htread got me thinking.)

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See that is just ridiculous. Meanwhile if you do one thing wrong it immediately goes on your credit report and theres no waiting months for it

I have to call my mortgage broker again this week, he is real good at telling you what to do in these situations. I need to find out the same thing, about things that should be off but are still showing. I'll let you know what he says the best thing to do to get it off.

Re: Credit Report Question

Sorry to crash- but if you send the following letter to the company that you have the issue with they are legally obligated to respond within 30 days- if they dont the credit reporting company (cc all three) removes it from your report- hth



Dear Company,
I have very recently pulled my credit and am very discouraged that your company has placed a negative credit reporting on my account status. I have been a holder since (date here)and based on my entire history with you; I request that you remove any negative information as soon as possible. I am also disputing this with all three credit bureaus.
The following information therefore needs to be verified and deleted from the report as soon as possible:
Account number.

The following is the negative Information that you reported to the credit unions:
Experian- 30 days past due, November 2002
Equifax- 30 days past due, October 2002
TransUnion- 30 days past due, October 2002

Please delete the above information as quickly as possible.
Sincerely,


Attachment included. (copy of the credit report highlight the negative thing)

CC:
Equifax Information Services, LLC
P.O. Box 740256
Atlanta, GA 30374-0256

TransUnion Customer Relations
P.O. Box 1000
Chester, PA 19022

Experian
PO Box 9563
Allen, TX 75013