How quick do credit card companies report changes?

[twyla]

I have paid down some balances already for some time but the changes are not appearing on my credit report. I'm not pulling up my credit however, I have alerts when my scores go up or down or if there's inquiries etc. Do I have to ask them to report the change in balance? Why is it that when you rack up a ton of charges they report them really fast but when they're paid off, they take forever? Is there a way to "speed up" the process?

[VICKY735]

Well for that you should see http://biznuss.net
i hope that resolve your problem keep using answers.yahoo.com

[munnybags]

generally your credit card company reports once a month to the credit bureaus. They may do it more often if you "rack up a ton of charges" because that rapidly changes your debt to credit ratio and makes you a higher risk (they think) to other creditors.

[Zachariah176]

Credit Bureaus can take up to six months, to show "good credit." However, for some inexplicable reason, charge-offs, car repossessions, and delinquent credit card/mortgage payments almost appear instantly.

I called my cellphone provider to see why my two years of perfect bills were never reported on my bureau. They told me the ONLY time the three major credit bureaus(Experian, Equifax, Trans-Union) are notified is if my payments ever fell behind. Do you see a MAJOR conflict of interest here?

[buterfly43]

what you need to do is to go to the bank and tell the tellerthat you need a bank statment every month that you could know how your money is bean spent

[dogszncatsz076]

Just paying down some balances will probably not make your credit score go up enough to worry about (7-12 points depending) They usually don't report monthly, it's more like every 3 months unless you have gone over the limit, late/missed payment and such. Some cards that are designed to 'improve' or 'rebuild' credit do report monthly, but you will pay for it in annual fees, participation fees, high interest and such. If you rack up alot of charges, they report them quickly because they don't want you to get more credit extended to you. If you go get another bank credit card and rack up a bunch of charges you may not be able to pay bank #1. They want to be sure they can get their money. They don't give a crap about helping you by showing that you are paying. They only report certain things on your credit report and there are at least 3 big places they report to, but not all credit cards report to all 3 (Experian, TransUnion, & Equifax). It's really crazy and confusing and there should be a highschool class on that instead of some of the other silly things they 'teach' these days. You really can't speed it up, but you can do things like always pay more than the minimum payment and don't carry large balances (less than 35% of your limit) you'll get small points for that. Also, don't apply for more cards that is a killer!! You are entitled to one free report per year, but I'm not sure if that will actually include your score or just the report. You can get it at the address below and its not a 'hard' pull when you get it yourself. Hope this helped
https://www.annualcreditreport.com/cra/index.jsp

[edda]

all the credit card card copmaines report to the three credit bureaus once a month. Just paying down balances in one month will not make a difference in your score unless your debt to income ratio makes a big change.

if you are looking for the free credit report usa national site, check out this site

http://free-credit-report-national.com/

Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating.