How Soon is Credit Report Information Updated?Posted on December 11, 2009

You may be wondering how long it takes for credit report information to be updated.

When you have a good credit score, credit is available to you and the rates that are charged for the credit will be low. When you have a bad credit score, credit is harder to get and the interest rate is high because you are considered a risk to the lender.

When you need credit for a house or car, it is important to know what is on your credit report. If you have negative items on your report, it is good to repair credit issues that may hurt your credit. You able to obtain 1 free credit report annually from each of the 3 main reporting services.

Once you have your credit report, look it over to see if there are any discrepancies to help improve credit score. Often there may be one or two things that need to be corrected.

Credit reporting agencies are required to respond to a inquiry within 30 days and will usually come back with 1 of 3 responses.

1. The credit entry has been changed.

2. The creditor verified the dispute item as good and it stays on the record.

3. They received the request but needs more time to investigate.

In addition, if they do respond and made some changes, you are able to request for a follow-up credit report for free within 6 months of the change to double check that the disputed item has been removed or updated. However, they won’t send it out without a request so if you want to check to see if and when credit information is updated, then request for a new copy of the credit report after a disputed item has been changed.