How long does take for credit transactions to reach a credit bureau?
neken101 asked:
When you make a purchase with a credit card and receive the bill. After payment, what credit information and how long does it take to reach a credit bureau to affect your score?
Tonya
When you make a purchase with a credit card and receive the bill. After payment, what credit information and how long does it take to reach a credit bureau to affect your score?
Tonya
June 4th, 2011 at 4:55 am
Within 30 days. Merchants report monthly so it could be up to 30 days from the transaction depending on when they report. A payment to a credit card works the same way, banks will report to the credit bureaus monthly, and whatever they report would stay on your credit report for up to 7 years. The credit reports will show current monthly payments for two years like this:
CCCCCCCCCCCCCCCCCCCC
A payment 30 days late a year ago would show up like this:
CCCCCCCCCCCC30CCCCCCCCCCC
The payment is NOT removed from your credit report after the creditor receives it. It remains as part of your credit history.
June 4th, 2011 at 10:48 pm
Give the payment up to a week to get there, then processing time (1-3 days), after all of that clears, it should be removed from your credit report.
June 7th, 2011 at 9:56 am
I don’t know about in the USA, but in the UK most large lenders have online real-time systems and they’ll know about credit and credit applications with other lenders immediately.
Credit card systems are also all real-time in the UK.
June 9th, 2011 at 12:38 am
Creditors only update to the credit bureau once a month. Whatever shows on your account at that time, is exactly what is reported.