It is January 25th and I plan to pay a good portion of my credit card debt. I believe Bank of America reports to the credit bureaus at the end of each month. By paying this off today or tomorrow will BoFA report my new balance therefore raising my score? I plan to purchase an auto soon and I got a huge bonus which is going to pay off most of the card. Thank you.
Will this affect my credit score positively? (time issue question)?
credit scores dont rise that fast, but it will help out most likely
Will this affect my credit score positively? (time issue question)?
Its will take up to 5 days updated your credit report .
Banks will report to the credit agencies 5th aftyer the month .ending .
If your credit card due date is 30th January, the banks will report to credit agency on 5th Feb and your credit report will be updated at 10th Feb ..
Your credit score will be updated every 3 months . 4 times a year . Jan / April / July / Oct
Your next credit score update for next quater is the comming April ..
Will this affect my credit score positively? (time issue question)?
yes
if u pay it off they wiill report it once a month
soo i fu pay it off will show up on ur report in max 30 days
ur score will icnrease but might take couple of days or a week
u can sign up with credit monitoring service like truecredit.com
soo u can see when ur scores incresed,then u can go aplly for
the car loan
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