disputes & credit scoring

This message was edited 2 times. Last update was at 06/10/2009

Good Morning,

I've paid off and paid down balances on several credit cards. The balance were still reported incorrectly. I've disputed these balances, and were corrected on my credit report. However I have not seen a change in my FICO score. Approximately how long does it take to effect my FICO score after the error is corrected? testtest

FICO scores are updated in real time so as soon as the information is updated in your credit reports, the changes will be reflected immediately in your scores. Were the payments on your credit cards significant amounts? Usually if you pay down large amounts of credit card debt and you decrease your revolving utilization by drastic measures, you'll see an increase in your scores. However, you may have something else in your report that's holding your scores down more than your credit card balances.

If you've ordered your FICO scores recently, you should have access to the FICO score simulator where you can play out different scenarios on your credit report to see exactly how specific changes in your reports would impact your scores. It might be a good idea to use this tool to see how much paying down your balances will help. If you haven't purchased your FICO scores recently but have a copy of your credit reports before and after the disputes, you can also try using our free Credit Score Compass to play out same scenarios to get a general idea of how this action might help your scores. testtest