How recent is the info on the credit report?

d_seng · 12 August 2013 at 5:29PM

Hi all.

I have just cleared about 18k of o/s credit card balances as the interest free period was coming to an end.

I want to apply for new credit cards pretty soon as my annual travel card needs renewal (costs a lot!) and for a few other purchases that I have been deferring till now.

I need to time the application so that the cleared balances show on my credit report and that will give me a better chance of obtaining higher credit limit.

Can anyone advise how long does it take for the o/s balances to show on the credit report searches? Days? Weeks? End of Month?

Thanks!
DSG

Hazzinho · 12 August 2013 at 5:36PM

Usually around a month, could be up to 2 months if the lender sent their data just before you paid off the debt.

YorkshireBoy · 12 August 2013 at 6:45PM

d_seng wrote: »

I need to time the application so that the cleared balances show on my credit report and that will give me a better chance of obtaining higher credit limit.

Depending on your salary and other details, you may find lenders are reluctant to grant "higher credit limits" with such a large available credit (must be well in excess of £18K on these cards alone...plus other credit lines?).

You may be better off closing (some of) them first, and waiting for settled markers, in order to maximise your chances of that "higher credit limit".

d_seng · 12 August 2013 at 8:27PM

In the past that has not been a problem, I've had 35-40k of available credit limit when I applied for cards successfully, but I'll consider closing them, just in case.

Thank you.

How recent is the info on the credit report?

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