How Fast Do Credit Cards Update Credit Repot

[Mark Cadle]

I am applying for a couple of HELOCs, but my lender told me that I needed to finally get around to paying down my credit card balances instead of locking in low rates with my cash.  I am kind of on a time crunch and for this lender a screen shot won't do it has to be via a credit report showing that I paid my credit card balances down.  I know your score is updated every month, but how long does it take for your credit card balance to be upated?  The lender made it sound like the larger banks, i.e. Citi, update more quickly.

[Bob Okenwa]

Every lender/credit card issuer has their own time schedule with updates. I've seen that the update happens a day or two after the statement cuts.  You should also look into what is called a 'rapid re-score' if you cannot wait until the next month when your files update. You can read about it here.