My first time posting here, please be kind! My hubby and I want to refinance our mortgage, but in the past few years we've gone a little crazy with the credit cards. So we gathered as much cash as possible and paid down about 30k on 40k in balances. But when I checked my report recently, only one of the 4 cards had updated the balance due. So our report still shows we owe 35K, when we only owe less than 9k! It's been almost a month for the other 3 cc's, is this normal??? We want to get the best rate we can on our new mortgage so we are waiting until the FICO scores go a little higher. Any advice or info would be greatly appreciated!
Call the cc companies, and explain the situation...maybe they will go ahead and update for you. Another option is to dispute incorrect balances, but that leaves a risk of the entire tradeline being deleted.
It depends on the cc. I have found that they will update when your billing cycle ends. I give it a week or two after that. So if your billing cycle ended in mid-Jan, your CR should be updated sometime in Feb. Also not all CRs update at the same time, I find EXP to update faster than TU. Don't worry your CR will update. Best regards, Mirage
