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If I pay off my credit card bills, how soon will it be reflected in my credit reports?
  Posted Wednesday, September 2nd, 2009 at 17:48

My home mortgage will reset in a few months. If I bring down all my credit card balances to 0 now, how soon will my credit reports reflect this; thus improve my credit scores?

Creditors report once per month, usually on the last business day of each month.


4 Comments to: If I pay off my credit card bills, how soon will it be reflected in my credit reports?
  1. Craig T says:
    September 2, 2009 at 10:56 pm

    Depends on how soon the credit cards companies update their files with the CRA’s. Usually that is done soon after your billing cycle closes.
    References :

  2. Matt K says:
    September 2, 2009 at 11:12 pm

    Creditors report once per month, usually on the last business day of each month.
    References :

  3. roritr2005 says:
    September 2, 2009 at 11:32 pm

    Usually credit ratings are reported monthly by whoever holds the card, or whatever. It should appear shortly after you refinance, depending on your state and all. Good luck!!
    References :

  4. mrcreditbility says:
    September 3, 2009 at 12:00 am

    Another thing to consider, is even if you bring those balances to zero and keep the cards open you are a risk. The risk lenders see is that you have the ability to use those cards and plummet right back in to debt.
    References :

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