“Lenders may have millions of customers and they don’t update all of their information at the same time,” Griffin points out.
He goes onto add that many lenders report account information around the close of the customer’s billing cycle.
Explains Griffin: “We have information from each of the lenders, and we go out to our databases and compile information from those databases when a credit report is requested.
Your credit report represents a snapshot of your credit history at any given point in time.” That means that the information is available in the credit reporting agencies’ (CRAs) databases at the time a credit report is requested is the information that will be reported.
For free members, Credit Sesame will update your Trans Union Vantage 3.0 credit score and your Trans Union credit profile every month typically on your first log in of a new month.
If you're interested in more frequent score updates or scores from all three credit bureaus, please consider our one of our premium subscriptions.
Credit Karma and my FICO both offer credit score simulators that can show how your credit score might change if the information on your credit report changes, if you pay off an account or open a new loan, for example.
Credit Karma’s simulator is included with your free membership to their service.
You can monitor changes in your credit scores for free by using Credit or Credit which give you free access to your non-FICO credit scores.
Credit Karma updates your Trans Union and Equifax credit scores daily while Credit Sesame delivers monthly updates to your Experian credit score.
Check with your credit card issuer to find out whether they provide free access to your credit score.
While you’re waiting for your credit report and score to update, you can use a credit score simulator to estimate how your credit score might change.
The simulator offered through my FICO with the FICO Score Watch only for your Equifax credit score for .95 per month.