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Posted in Credit Scores
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Question By
AppleRules

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How often do credit scores change?
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Helpful to 65 out of 84 people

Technically, a credit score can change at any point in time. For example, if someone applied for an auto loan this instant, the hard inquiry from the credit application should instantly be reflected on the credit report and their credit score would then be affected and change.

Aside from the instant inquiries, credit scores also change whenever a credit report is updated with new balances, loans, or derogatory information from a creditors. The frequency of the updates can vary by the credit bureau and the lender. In most cases, you can expect your creditors to report new balances, payment activity, credit limit changes, or late payment information every 30 days. For that reason, it is a good idea to check your credit score for accuracy at least once a month.

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Helpful to 24 out of 26 people

 I think if your company is going to run this service you should have the updates every month like it should be . Mine had not been updated for serveral months. To me this is wrong when you want to check your credit score .

Reply by
credimprover

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Helpful to 8 out of 8 people

I agree. And my accounts listed here are inaccurate. I do not know how to change that. 

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Reply by
jaccid

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Helpful to 6 out of 8 people

Credit Sesame, is every 3 months on the dot.

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5 People Helped

credit score discrepancy

Helpful to 5 out of 5 people

credit karma says 698  yet the same day i check equifax 742   transunion 736 and experian 756   why is credit karma so low?

Reply by
palmaj6611

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Helpful to 1 out of 1 people

Because credit karma is a FAKO score and is calucated differently then scores from other sites. The only accurate scores are FICO scores. You can get your equifax and transunion FICO score from myfico.com.

Top Contributor
405 Contributions
2541 People Helped

Helpful to 65 out of 84 people

Technically, a credit score can change at any point in time. For example, if someone applied for an auto loan this instant, the hard inquiry from the credit application should instantly be reflected on the credit report and their credit score would then be affected and change.

Aside from the instant inquiries, credit scores also change whenever a credit report is updated with new balances, loans, or derogatory information from a creditors. The frequency of the updates can vary by the credit bureau and the lender. In most cases, you can expect your creditors to report new balances, payment activity, credit limit changes, or late payment information every 30 days. For that reason, it is a good idea to check your credit score for accuracy at least once a month.

Reply by
purrcilla

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6 People Helped
Helpful to 5 out of 6 people

Last month I paid off the balance of a $15,662 loan.  It took 30 days to show as paid on Credit Karma but I am astounded it had no effect on my credit score!

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Superhero v Mr.Reliable?

Helpful to 2 out of 2 people

Remember, credit scoring is to protect lenders---as was said above. So, you pay off a $15,000 loan in one go---what does that tell a lender? That you have access to large amounts of cash at a moments notice and are, therefore, a good risk? Nope. They'll just see that as a one-off that in no way reflects your ability to CONSISTENTLY, RELIABLY & HISTORICALLY make (at least) minimum payments on your debts---even if those debts are large and long-standing.

You don't need to be a one-off payment "superhero"---you need to be (boringly) everyday, comon-or-garden reliable.

This is just my common-sense take on it---what do you think?

Reply by
brianpeterson528

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5 People Helped
Helpful to 5 out of 5 people

This is the best credit advise or comment i have ever heard. We are not entitled to anything from a lender. We have to prove we are worthy enough for them to lend THEIR money to. As for fees and such these lender charge, that i our fault. We choose to accept their offer and sometimes we have to pay the price. Instant-gratification is for the birds when it come to credit, just like most things in life.

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