How quickly do FICO credit scores change?

**mordantmaxim** · Jan 26, 11, 2:15 pm

My question: How quickly do FICO credit scores change to reflect information from the last 6 months? I believe credit agencies report to the three credit unions once a month, but how quickly does that information affect the credit score?

My particulars: I opened my first credit card when I was a college student in July 2003. It started out as a student Visa through BofA with a $300 dollar limit and has now become a Visa Platinum Plus through BofA with a $16,000 limit. I do not have any late payments. It is not a rewards card of any kind - no points, cash back, rewards, etc.

As recently as a year ago, it carried a balance of just under $11,000 (bad for credit score, I know). I have since paid the balance off (July 2010) and charge between $50 and $150 a month since then, paying it all off each month to avoid interest.

In addition, I have 4 school loans for a total of $31,000 in school debt. I have one ding from an apartment rental in August 2009.

I ask the question above because my sister is getting married in October this year and I have some purchases coming up that total close to $1000 (hotel, airfare, attire, etc). I would like to get SOMETHING for these charges, but do not know if my credit score would be high enough to qualify for a rewards card like some of the Amex or the Citi ThankYou.

I sincerely appreciate any information you can offer.

**cashnocredit** · 11:03 am

Credit scores are generated real time at the request of the consumer report puller (usually the potential lender). They are generated from all the information in the credit report upon which credit scores are based. Credit report information is also real time in the sense that creditors report regularly and electronically. What the delay is between the event and its reporting varies. Also, public record info varies considerably as it's all based on third party work. Generally, the last balance reported is what determines utilization and score. Internal, proprietary credit scores can include other factors such as whether you own or rent, occupation, income, etc. Large banks use these.

**Pete838** · Jan 28, 11, 9:12 pm

If you have a BoA card with a 7 year satisfactory history and no lates on your student debt you probably have really good credit. The apartment should not be a big deal.
Pick the one you want, and apply. If you get turned down pull your free credit report and see what's going on. The free reports )Equ, T.U., Exp.) offer to sell you your score ( the numerical score is not part of the free report) for a few dollars more ea..
Your utilization is updated monthly, and the score changes with the U%, so the result is pretty quick to your score. If you paid it off several months ago your score has definitely adjusted.

**mordantmaxim** · Jan 31, 11, 10:45 am

Thank you! I applied for Discover this morning, so crossing fingers.

**Mogul of Pineapples** · Feb 6, 11, 4:49 pm

From my understanding the longest it should take for something new to show up on your credit report is approximately 2 months, because reporting is done within 30 days after a cycle closes. To show up on all 3 reports it may take longer because few creditors report to all three, although the information will get picked up by the others after it appears on at least one report. As far as how quickly do the FICO credit scores change, as mentioned above it will be in real time when pulled based on the information found on the report being used.

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How quickly do FICO credit scores change?