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vazc1364

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I paid off my credit cards ,when will i see a difference in my credit score?

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Top Contributor
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Two statements

If there is going to be any change, it cannot be shown to you until after the credit card company reports to the credit agency, and they report to you.  It can take two billing cycles these guys are in the dark ages.

Top Contributor
109 Contributions
71 People Helped

Timeline

If you have all of your accounts matched, see if there is any change in the amount outstanding on the loan.  Look at the credit Karma " You have reduced your credit card utilization by X%."    If the change shows, in about two cycles the lagging credit bureaus loan balance should show up correct on the right hand side of the Credit Report Accounts, on the Manage your accounts page, in Credit Karma.

Timeline

First, you make a payment, you know the credit card company knows, Credit Karma shows.

After your statement comes after your next due date, they report to the credit bureaus.  Now you know, the credit card company knows, and the credit bureaus know.  

When your loan balance shows zero is when you might see a difference in your score.  That is if they don’t take another month with the balance.  The credit bureaus big shot computers might miss it the first month.  You may have to call them or log a complaint about the balance showing incorrect.

Once they show zero balance due, if your score has not changed by then, it is unlikely too change because of the payoff.

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