Creditors are required to report to the bureaus every single month.
Even though creditors are required to report every month most of them are NOT allowed to tell you when they actually report to the bureaus. That comes in to play very often for me being in credit management.
Let’s say that you paid off one of your credit cards today, Feb 10th 2008, to raise your credit scores and your expecting a higher score on March 10th 2008. If your credit agency reported to the bureaus on Feb 9th 2008 then the bureaus wouldn’t even know you made the payment for almost a full month.
It get’s worse… the bureaus under Federal Law have 30 days to update reports so you may not have the higher score you’re anticipating until the end April.
Remember these two words if you’re ever in a hurry to get an update report for ANY reason: “ rapid re-score”. A rapid rescore will force the bureaus to update your report in about 3 days.