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Why can’t I access real-time credit reporting on all credit reports?
I’m signed up for the free version of Equifax and Experian credit report and Credit Club. On Equifax and Experian I have to wait a month to a new version of my credit report. On Credit Club I get a new report every time I login (I believe?).
Does anyone know why real time access to all credit reports are unavailable?
Comments
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Banks etc will not update everyday..
Most payments are monthly, so get updated monthly…
The real question is why are you looking at them so often?
The score is a meaningless figure.
Life in the slow lane0 -
Credit Club isn't a live/refreshed report, they just use the same data as if you use Credit Karma which is a month or so behind.
The reason you can't see live is because they paywall it to pay for running it. Pay for Experian/Equifax/TransUnion if you want to see an almost live system - it's always "almost" as banks often update slowly. I did a test for a while on the free apps and some banks went 6 weeks between providing updates on balances
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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