It’s no secret that your credit score can change over time. But a question many people ask is how often does it change? If you’ve undergone credit score repair recently, you may want to monitor your score closely so you can apply for credit at the right time. The truth is credit scores might not change as often as you think. Here’s what you need to know.
Credit Score Updates Depend On Lender Reporting Policies
Each of the three credit scores you have is based on the information contained in all of your credit reports. As credit repair experts explain, the timing of the change of your credit score largely depends on when lenders report your information. For example, lenders tend to update and report information to credit bureaus every 30-45 days. However, each lender has different policies, so if you’re concerned about specific timing, it may be worth confirming with the lender.
How Much Can Your Credit Score Change?
If you need credit score repair, it’s important to understand your score is an accumulation of various things. Everything from your payment history to existing debt, credit age, and your credit mix all factor into your credit score. So since your credit score is based on potentially a long time frame, it’s difficult to predict how much your credit score will rise or fall at any given update. When you work with credit repair experts, they can often help expedite this information and can give you a better idea of what to expect regarding changes in your credit score.
Should You Check Your Credit Score Periodically?
Many credit repair experts recommend checking your credit score annually just to ensure nothing suspicious is happening. It won’t hurt to check it even more frequently if you plan on making a major purchase in the near future. The last thing you want to happen is to be surprised when you apply for credit only to find out your score is lower than you originally thought.
At Core Credit Solutions, we provide credit repair in Los Angeles to people who can benefit from it the most. Monitoring your credit score and taking action to change it if possible can help you have more financial flexibility. Our experts have many years of experience helping people improve their credit and we are ready to help you also. Don’t hesitate to contact us to schedule a consultation and learn more about our services.