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Question By
JHGALLA

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Why aren't my reports reflecting my current credit balances?
The site is saying my reports were updated this month (in March), but I paid down most of my balances in mid-Feb and my reports aren't reflecting that. It's saying I have over $1000 in credit balances when in reality, I only have a little over $100 in balances now.

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Top Contributor
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credit reports are slow moving Behemouth

You make your payments to the lender.  That is reported once a month to the Credit bureau that that particular creditor reports to. Generally around the time your next statement is sent to you.  At the end of that month its cross reported to the other 2 Credit Bureaus.

Credit reporting is a slow moving machine, It can take 6 weeks or longer for an action you take today to be reported and cross reported across all your reports. . 

There are nearly 300 million Credit reports in the USA. It takes a little time for all that info to get sorted out.

Hope that helps.

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