When Will My Paid Off Credit Cards Show on My Credit Report?

Question

I recently paid off all of my credit cards. They all had pretty high balances so I'm expecting to see a generous rise of my credit score which will help tremendously since I'm going to be buying a new car soon. I paid the cards off about 5 weeks ago- all my credit card bills came in and showed a zero balance on the account but when i pulled a credit report it still shows all my debt. I want to get it off ASAP because as I stated I'm trying to buy a car- My question is does anyone know how long it takes the debt to come off my credit report and is there anyway to speed up the process?
Thanks so much!

Answer 1

Yes, it should be able to get you the best rate at the bank. Many car companies have 0 percent loans now anyway, but be careful about the price of the car, some companies try to make up the cost of the loan by raising the cost of the car. But cars are very good buys now, autos are always sell at good buys for the consumer when the cost of oil goes up.

Answer 2

The low balances will show on your credit report approximately 45 to 60 days after you paid them off. The times vary between the 3 companies.

Also, other factors to consider are:

If you've gone hunting for credit cards in the recent days (more than 3 times in a single 30 day cycle,) it knocks your score down 3 points each consecutive time.

Contrary to popular belief, it IS OK to hand out your information to any loan companies you're trying to get a loan from. You don't have just 3 chances. The credit agencies see this as "shopping" and will not ding you.

The credit score you see on sites like freecreditreport.com or the agency's own FICO score systems can and usually are different from what the bank/loan establishment will see, so don't be shocked.

Try to avoid opening any new credit cards OR closing them. They both hurt your score.

Go in person for a loan to a financial institution. It usually helps.

Remember your income vs expenses are very important. This will help determine how long of a term they will give you and how much of a term you will be given (sometimes forced) to have.

So remember, key things:

Length of credit history, current score, and current balances.

Yeah it's a little more than what you asked for, but I hope that this helps you in getting a lower APR.

Answer 3

Depends on the reporting of the credit card company and the updating cycle of the credit agency - anywhere from a month to 3 months. You can put notes in your credit report so you can note that the accounts were paid and closed on a specific date.

Answer 4

There is no way to speed it up, unless you know someone who works at all 3 bureaus lol ... It has been my experience tho that your report is constantly updated at all 3 bureaus with the most current information, BUT it takes a little bit for a written report to reflect accurately on your credit situation (like a month) because most creditors only report to the bureaus once a month. Once the bureaus get those reports tho, they update your report immediately.

(I hope you didnt cancel those 0 balance cards !)

Answer 5

Anything you pay before the first of the month, will show on the report 60 days after.

Answer 6

IT MAY TAKE ALONG TIME WHAT I DID WAS GOT STATEMENTS FROM MY CREDIT CARD COMPANIES SAYING THAT THEY WERE PAID OFF THEN SENT THEM TO THE ADDRESS ON MY CREDIT REPORT AND ASKED THEM TO DO AN INVESTIGATION DONT CANCEL ALL OF YOUR CREDIT CARDS> KEEP THE ONE THATS THE OLDEST OPEN AND STILL CONTINUE TO CHARGE STUFF ON IT AND PAY IT OFF MONTHLY THAT WILL MAKE IT GO UP>

Answer 7

Write in closed by consumer, so you can show not much credit left open to spend. Each quarter, they update.

Answer 8

You need to call the credit reporting agencies, Transunion, Experian, & Equifax. Ask them to please update........they will.

Edit: if you contact the credit reporting agencies directly, they will contact your creditors to verify the information and update it.