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How long for Credit Report to update how much credit I have issued to me?
ToReadItSanctifiesIt
Posts: 8 Forumite
I have just cancelled two credit cards that I have never used (I got them about 9 months ago).
I did this to free up how much credit my credit report would show I have available to me, so that I can then apply for a new credit card (which I want instead of the other two as it has a better deal on it).
How long will it take for my credit report to start showing that I now have less credit available to me? Days, weeks?
Edit: In other words how long should I wait before I apply for my new credit card? I will probably be accepted for it anyway, but I just wanted to make sure of it by cancelling the unused credit cards anyway.
I did this to free up how much credit my credit report would show I have available to me, so that I can then apply for a new credit card (which I want instead of the other two as it has a better deal on it).
How long will it take for my credit report to start showing that I now have less credit available to me? Days, weeks?
Edit: In other words how long should I wait before I apply for my new credit card? I will probably be accepted for it anyway, but I just wanted to make sure of it by cancelling the unused credit cards anyway.
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Comments
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Most lenders only report to the CRA's once a month.
You could ask them when this is as each lender is different.Official DFW Nerd Club - Member no. 0650
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