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MJSJ1

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Where can I find what day of the month my credit score is updated?

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You are given updates every 7 days on Credit Karma, to see what is different, and if your score updated.  Your credit can change every day.  Your creditors report on different days of each month, and some of them do it on what's called your "Billing Date" or "Cycle Date".  For example, if your credit card is due on May 28th, your "Cycle" or "Billing date", could be June 3rd.  So on June 3rd, they generate your next Minimum payment that is due, and generally also report your information to the Credit Bureaus on this day.  If you want all your liabitilies to get updated on the same day of the month, just have all your creditors change your liabitilies to the same due date each month.. Of course, ask them what day they report on, to see if it holds true for all lenders.  Also keep in mind, creditors do not have to report every 30 days, some report every 60 or 90 days.

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Reality check!

Every time you use a credit card or make a payment you score actually changes.  Realize also that you have many different credit scores.

There are over 300 credit scoring agencies in the US today.  Aside for the big 4 that we all know, Transunion, Equifax, Experian and FICO, there are banks, mortgage lenders and others that can all provide credit scores.

 The scores we see here on CK are based on whats in your files when it is updated.  On CK, they are usually updated once a week or so, but generally not until you log in. This is condsidered a soft inquiry and doesn't generate a deep inquiry but will use the info that is in your file at the moment. generally In the upper right hand corner of the webpage that shows your report will give you the date the report was created. 

A hard inquiry will actually contact every account in your file for the exact info as of that moment.  Remember that it often takes as long as 60 to 90 days for things in your credit reports to be updated and cross reported as well.    Credit reporting is a slow moving behemouth.

Hope that helps.

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