How Often Do Credit Reports Update?
If you’re working to improve your credit or watching for a specific change to your credit report, you probably want to know how often credit reports update. Being able to predict how your credit report — and ultimately your credit score — will change is a concern for anyone who knows the importance of having good credit or who's hoping to be approved for a major loan.
When Can You Expect Your Credit Report to Update?
There’s no definitive answer on how often creditors update your credit report. They’re technically not required to report to the credit bureaus. However, when they do report your account activity, they’re required to ensure your information is complete, accurate, and within the credit reporting time limits.
Because creditors that do report to credit bureaus are continuously updating your information, your credit report can update as often as daily. That doesn’t mean all your accounts are updated daily. The businesses you have accounts with report to the credit bureaus at different times throughout the month based on their own schedule.
It doesn’t take long for updates to appear on your credit report. Since most credit information is now sent electronically, updates send to the credit bureaus will often show on your credit report right away.
Note that while your credit report itself can update daily, some free credit monitoring tools only refresh your credit report weekly or monthly. When you’re viewing your credit report through that particular service, you’ll only see updates as often as the service provides them.
It’s possible for you to not see any credit report updates if none of your account information has changed.
When Do Business Report to the Credit Bureaus?
Specific information is updated based on the business providing the information.
Credit card issuers often update your credit report information on your account statement closing date, which is also the last day of your billing cycle. You can find your most recent account statement closing date on a copy of your last billing statement to verify when that particular account will update on your credit report. Add the number of days in your billing cycle to that date to estimate your next account statement closing date.
For example, if your last billing cycle closed on April 17 and your billing cycle is 29 days long, your next account statement closing date is May 16.
Inquiries made when you make credit applications or businesses want to pre-qualify you update right away. If you check your credit report right after making a new application, the inquiry will already be on there. Keep this mind because future applications could be denied if you have too many recent inquiries.
The timing of public records updates varies and is difficult to predict because each court works on a different timetable.
What About Updates to Negative Information?
Thankfully, your credit mistakes won’t follow you around forever. Most negative accounts completely disappear from your credit report after seven years. You should see your credit report update and these accounts disappear during the month of the 7th anniversary of the accounts date of the delinquency.
While the accounts are still on your credit report, they’ll be updated if there are changes to the information. For example, if you’re making payments on a derogatory account, the payment, account status, and balance information may all be updated.
Inactive or closed accounts may not be updated at all, particularly if there hasn’t been any change to the account in several months.
If you dispute an item, the results of a dispute will update as soon as the credit bureau completes the investigation. Credit bureaus have 30 days to investigate your dispute, but that time limit could increase to 45 days if you send additional proof while the investigation is still underway.
Seeing Faster Credit Report Updates
Mortgage lenders may be able to pay a fee for a rapid rescore to update your credit report in 2-3 days, only with known inaccuracies. If you’re trying to raise your credit score a few points to get approved for a loan or to qualify for a better interest rate, your mortgage lender may be able to use this service to help you out. Rapid works when you have proof of a credit report error or you’re able to pay off an account right away and need the balance to reflect on your credit report and in your score right away.
When Will Credit Report Updates Show in Your Credit Score?
Once the changes show on your credit report, they’re factored into your credit score. The next time you pull your credit score, those updates will be reflected. That doesn’t necessarily mean that every credit report update will move your credit score. It all depends on the information updated and all the other information on your credit report.