How long to update credit report/score

ynwa

After paying off credit cards and/or cancelling them how long does it take for your credit report/score to update to reflect this?

I want to apply for a loan or a new CC and dont want my previous debt counting against me. Any help appreciated

stephane_2

That will all depends on your provider but some will update your file within a month some will take up to 2 months. Do not bother about your score...waste of money. So best to check your file regularly and only apply once you're sure your file has been updated

KingElvis

If the previous cards involved debt and defaults then it could be a long time before you are considered again.

If it's just a normal closure then a few months at most will show the accounts as satisfied.

ynwa

There's no defaults or 'bad credit', but a fair chunk of money spread over 3 cards that I have now paid off with the intention of closing/canceling a couple of them too.

So are you saying that when you pay off your balance on a credit card, you could be waiting up to two months for your credit report to reflect this?? Or are you simply talking about the actual closing of the CC account? If the former is the case, does that mean that whenever your report is searched all your payment records could be anywhere up to two months behind what they actually are??

Tixy

Credit companies report monthly things like balances, and then it may take up to a week to appear. So if you happen to have paid it off the day after they reported it then it might take around 5weeks or so.

Things like when recording an account closure can take a bit longer, should never be more than 7-8weeks.