Your scores can be updated as often as once a week, so it’s easy to track your progress.
If your scores haven’t changed, it could be because the information in your credit reports hasn’t changed significantly enough to affect them.
Credit takes time to grow. Some key factors in your scores — like on-time payments and age of credit history — take several months to years to establish. Good habits, such as making payments on-time and using less of your available credit, can help you improve your credit health.
If you’ve recently had a big credit event (such as paying off your credit card balance) and still haven’t seen any changes to your credit scores, it could be because the bank or lender hasn’t reported such event to the credit bureaus yet.
Usually, lenders report any new balances, payment activity, credit limit changes and other new info every 30 days, but different bureaus may update at different speeds and frequencies.
How do I find out if a lender reported to the bureau?
Take a look at the “Last Reported” date next to each account on your credit reports.
- Go to your full credit report on Credit Karma (Transunion report or Equifax)
- Then click on a specific account and look at the very top of the Account Details list and you’ll see the date next to “Last Reported”.
- If it’s been over 30 days since the last report, consider filing a dispute with the credit bureau showing the outdated information.
For more details on score changes, check out our article: When do credit card companies report to the credit bureaus?
If you’re looking for ways to build your credit, on-time payments are just one thing that can have a positive impact on your long-term credit health. Here are five tips to build credit.