Slowest Companies for Reporting Balances

Superhoopza

Who are people finding the worst for updating CRAs with information? I'm finding barclays are showing on my CRAs with a recently 'updated' credit history, i.e. balances, payments etc but then the balances show are not reflective of payments made within 4-5 weeks, neither do they show my latest statement balance. Other providers are quicker (with various degrees of speed).

Nasqueron

Barclays tended to be the slowest from memory when I was checking to see - Experian/MSE credit club would be 2 months behind at some point

Do note that the free access is not the same as the full report/live view that lenders see

Superhoopza

Nasqueron said:

Barclays tended to be the slowest from memory when I was checking to see - Experian/MSE credit club would be 2 months behind at some point

Do note that the free access is not the same as the full report/live view that lenders see

I've got accounts showing all 3 CRA reports, totallymoney.com is also live and it's the same issue with Barclays.

Nasqueron

I don't know if totally money is live given it's free - I realised my message wasn't really clear - the live report that lenders see is updated constantly, the free ones tend to be monthly

DullGreyGuy

Superhoopza said:

Who are people finding the worst for updating CRAs with information? I'm finding barclays are showing on my CRAs with a recently 'updated' credit history, i.e. balances, payments etc but then the balances show are not reflective of payments made within 4-5 weeks, neither do they show my latest statement balance. Other providers are quicker (with various degrees of speed).

Banks tend to update the CRAs every 4-6 weeks. CRAs for consumers tend to update the report every month. You are viewing the report at a random point within the month. 

It's not really that one bank is faster or slower than the next just how their cycle and the cycle of the CRA aligns when it comes to your record. As others have said, for a potential lender they don't see a monthly snapshot but the live information and so the out of synch issue doesn't impact what they see. 

Superhoopza

I genuinely wonder why I and others bother posting on here when what they say is just totally ignored when people answer questions:

Nasqueron said:

I don't know if totally money is live given it's free - I realised my message wasn't really clear - the live report that lenders see is updated constantly, the free ones tend to be monthly

I've just said it's live, I'm not asking whether it is or not. Why would I say something that is not true? Not that I should have to prove myself but a 20 second google brought up the following: https://help.totallymoney.com/hc/en-gb/articles/4403198112273-What-is-a-live-credit-score-and-report

DullGreyGuy said:

Superhoopza said:

Who are people finding the worst for updating CRAs with information? I'm finding barclays are showing on my CRAs with a recently 'updated' credit history, i.e. balances, payments etc but then the balances show are not reflective of payments made within 4-5 weeks, neither do they show my latest statement balance. Other providers are quicker (with various degrees of speed).

Banks tend to update the CRAs every 4-6 weeks. CRAs for consumers tend to update the report every month. You are viewing the report at a random point within the month. 

It's not really that one bank is faster or slower than the next just how their cycle and the cycle of the CRA aligns when it comes to your record. As others have said, for a potential lender they don't see a monthly snapshot but the live information and so the out of synch issue doesn't impact what they see. 

Some update monthly i.e. MSE credit club, some weekly (clearscore) and some daily (totallymoney). Barclays are showing on my live report as being updated on 20th Feb but the balance shown is from mid Jan so they are sending 'updates' to CRAs without actually putting in the correct information at the time. So it's not an out of sync issue as I use my live report to check what information is held, not a report issued 3-4 weeks beforehand.

adamp87

Superhoopza said:

I genuinely wonder why I and others bother posting on here when what they say is just totally ignored when people answer questions:

Nasqueron said:

I don't know if totally money is live given it's free - I realised my message wasn't really clear - the live report that lenders see is updated constantly, the free ones tend to be monthly

I've just said it's live, I'm not asking whether it is or not. Why would I say something that is not true? Not that I should have to prove myself but a 20 second google brought up the following: https://help.totallymoney.com/hc/en-gb/articles/4403198112273-What-is-a-live-credit-score-and-report

DullGreyGuy said:

Superhoopza said:

Who are people finding the worst for updating CRAs with information? I'm finding barclays are showing on my CRAs with a recently 'updated' credit history, i.e. balances, payments etc but then the balances show are not reflective of payments made within 4-5 weeks, neither do they show my latest statement balance. Other providers are quicker (with various degrees of speed).

Banks tend to update the CRAs every 4-6 weeks. CRAs for consumers tend to update the report every month. You are viewing the report at a random point within the month. 

It's not really that one bank is faster or slower than the next just how their cycle and the cycle of the CRA aligns when it comes to your record. As others have said, for a potential lender they don't see a monthly snapshot but the live information and so the out of synch issue doesn't impact what they see. 

Some update monthly i.e. MSE credit club, some weekly (clearscore) and some daily (totallymoney). Barclays are showing on my live report as being updated on 20th Feb but the balance shown is from mid Jan so they are sending 'updates' to CRAs without actually putting in the correct information at the time. So it's not an out of sync issue as I use my live report to check what information is held, not a report issued 3-4 weeks beforehand.

What are you using for your ‘live report’?

I’ve always understood banks have a better access than what we can from any agency - and if you pay your bill it’s updated automatically on the version they can see.

Superhoopza

adamp87 said:

Superhoopza said:

I genuinely wonder why I and others bother posting on here when what they say is just totally ignored when people answer questions:

Nasqueron said:

I don't know if totally money is live given it's free - I realised my message wasn't really clear - the live report that lenders see is updated constantly, the free ones tend to be monthly

I've just said it's live, I'm not asking whether it is or not. Why would I say something that is not true? Not that I should have to prove myself but a 20 second google brought up the following: https://help.totallymoney.com/hc/en-gb/articles/4403198112273-What-is-a-live-credit-score-and-report

DullGreyGuy said:

Superhoopza said:

Who are people finding the worst for updating CRAs with information? I'm finding barclays are showing on my CRAs with a recently 'updated' credit history, i.e. balances, payments etc but then the balances show are not reflective of payments made within 4-5 weeks, neither do they show my latest statement balance. Other providers are quicker (with various degrees of speed).

Banks tend to update the CRAs every 4-6 weeks. CRAs for consumers tend to update the report every month. You are viewing the report at a random point within the month. 

It's not really that one bank is faster or slower than the next just how their cycle and the cycle of the CRA aligns when it comes to your record. As others have said, for a potential lender they don't see a monthly snapshot but the live information and so the out of synch issue doesn't impact what they see. 

Some update monthly i.e. MSE credit club, some weekly (clearscore) and some daily (totallymoney). Barclays are showing on my live report as being updated on 20th Feb but the balance shown is from mid Jan so they are sending 'updates' to CRAs without actually putting in the correct information at the time. So it's not an out of sync issue as I use my live report to check what information is held, not a report issued 3-4 weeks beforehand.

What are you using for your ‘live report’?

I’ve always understood banks have a better access than what we can from any agency - and if you pay your bill it’s updated automatically on the version they can see.

totally money dot com

Superhoopza

Barclaycard still not updated their balance on my live report 6 weeks later now. Wondering if anyone has come across any companies who are even slower than them?

Superhoopza

Spoke to Barclaycard and this is their timeframes:

They take the mid month statement at the end of the month and then report to CRAs by the 28th of the following month:

I.e. My 12th January statement will be picked up on 31st Jan and reported to CRAs on 28th February, so a 6-7 week lag. If you then only use a CRA which reports monthly, depending on the cycle, it can take up to 11 weeks for the correct figure to be reported and seen on your credit file. This seems absurdly bad practice.  

Superhoopza

Think I've found the slowest, mycommunityfinance, I made a loan payment on February 1st, 2 and a half months later it's not been reported on my credit files.