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How Long Does it Take for a Credit Report to Update?

Blog Post03/17/2021
Credit Advice

If you’re working hard to better your credit health, like paying down credit card balances or loans, you may be wondering when these positive actions will show up on your reports. Truthfully, there is no exact deadline or formula.

How often do credit reports update?

Your credit reports are updated when lenders provide new information to the nationwide credit reporting agencies for your accounts. This usually happens once a month, or at least every 45 days. However, some lenders may update more frequently than this. So, say you paid down a credit card recently. You may not see your account balance updated on your credit report immediately. If you look at the account in your TransUnion credit report, you may see a line that reads “Date Updated”. This would tell you the most recent day the account information was provided to TransUnion.

Because lenders don’t all provide updates on the same day, new information may be added to your reports quite frequently. You can get your credit report from each of the three nationwide credit reporting agencies weekly at annualcreditreport.com. If you’d like to more tools to help you manage your credit with confidence, consider a paid subscription to TransUnion Credit Monitoring. You’ll get access to daily credit report and score refreshes and alerts when there are changes to your accounts, helping you better keep track of important account changes.

When are credit scores updated?

Your credit score isn’t included on your free weekly reports, but knowing the information in your report can help you understand credit score movements. When information is received by the credit reporting agencies, it’s typically added to your credit reports immediately. And when the information in your credit report changes, your scores may as well. How much they change depends on what information is updated. For example, making one more on-time payment may not cause your score to jump significantly after a year of consistent payments. But if you significantly lowered your balances across your credit cards, you may see some positive score movements. Making payments consistently and keeping balances low are good ways to keep your credit on track. Over time, with these good habits, you should see your score continue to improve.

What is rapid rescoring?

Rapid rescoring may be useful if you’re trying get approval for a credit product, typically a mortgage, and your credit score is close, but not at a lender requirement. If you’ve recently made positive credit moves but they’re not yet reflected on your reports, lenders can request the information be added. This can result in your report and score being updated within a few days instead of having to wait for the next cycle. It’s important to note that:

  • You aren’t able to request a rapid rescore on your own.
  • A lender must request one on your behalf and there’s usually a fee for the service.
  • A rapid rescore can’t fix previous mistakes or make negative information disappear.

If you’ve been working hard to improve your credit health, it can be frustrating to feel your positive progress hasn’t been recognized. Ultimately, you may just need to wait for your lender to provide the updated information. In the meantime, keep that momentum going with additional healthy credit habits. If you’re looking for other ways to improve your credit health, Credit Compass gives clear, actionable recommendations based on your credit data to help you earn the credit score you want.

Disclaimer: The information posted to this blog was accurate at the time it was initially published. We do not guarantee the accuracy or completeness of the information provided. The information contained in the TransUnion blog is provided for educational purposes only and does not constitute legal or financial advice. You should consult your own attorney or financial adviser regarding your particular situation. For complete details of any product mentioned, visit transunion.com. This site is governed by the TransUnion Interactive privacy policy located here.

What You Need to Know:

There are various types of credit scores, and lenders use a variety of different types of credit scores to make lending decisions. The credit score you receive is based on the VantageScore 3.0 model and may not be the credit score model used by your lender.

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