In the past 2 weeks I paid off my 2 past due accounts, I check my experian credit report
Jan, 2010 in Experian Credit ReportIt shows that my past due accounts that i paid it shows paid,but i notice my credit score haven’t change.my question is does the credit reporting agencies update the fico score on a certain day or something.
I’m surprised that the entries were already updated. It usually takes 30 days. It will take time for your credit score to change. I’m not sure what the exact formula is, but give it at least 30 days and check again.
you need to wait 30 days
You’re too impatient. It could easily take 60 days to be updated.
First, Experian doesn’t use FICO. They generally give you Vantage score. Equifax still uses FICO. Or you can get your real, up-to-date FICO at MyFico.com.
Second, paying off derogatory items on your credit report will NOT improve your score unless you get the items deleted. In fact, it could initially lower your score. The older an item,the less impact on your score. When you pay old debt, the transaction becomes current and counts more in your score calculation, including the negative stuff.
However, creditors look at more than just your score. They look at your whole credit report. Paid old debt always looks better.