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Question By
oldroadgypsy

3 Contributions
16 People Helped
Why does Credit Karma report inaccurate info?
I've made payment on my credit cards, but credit karma doesn't report the decrease in the balance

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Top Contributor
24 Contributions
10 People Helped
Most Helpful Response

They don't report

Helpful to 1 out of 1 people

Credit Karma only reports what they pull from the agencies.

So it has to trickle down.

Credit card reports your balance at the statement closing date. --> Agencies receive that information and update your report --> Credit Karma pulls the updated report and updates your information on this site.

Also, keep in mind that Credit Karma only updates once a week.

Top Contributor
1884 Contributions
3677 People Helped

You DO realize that credit reporting

Takes time. 

i.e.  you receive the bill on the 1st,  It is due on the 21st.  the next closing date is on the 30th.

You make a payment on the 10th.

That payment is credited to your account but that payment is not reported to the credit bureau until your next closing date of the 30th.

That payment will not show on your CK report until after the payment is reported by the bank to the credit bureau and your CK is updated  some 20+ days after you made it.  And thats only if your lender reports on time.  (I have one lender that only reports once a quarter, so those numbers don't change for months at a time)

Credit reporting is a slow moving behemouth that takes time.  Even in this modern computer age, the system takes time.

Top Contributor
7370 Contributions
3810 People Helped

AND Businesses only report to credit  bureaus once a month.  That is good enough.

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