When Is My Next Credit Score Update?
Learn the precise timing of your credit score updates. Understand how underlying data changes affect your score's refresh and visibility.
A credit score is a numerical representation of an individual’s creditworthiness, primarily used by lenders to assess the risk involved in extending credit. This three-digit number, typically ranging from 300 to 850, provides a quick snapshot of how reliably a person manages their financial obligations. It influences financial decisions, from loan approvals to interest rates on mortgages and credit cards. A credit score is a dynamic figure, important for managing personal finances effectively.
How Credit Information is Reported
Your credit score’s foundation lies in information collected and reported by various lenders and creditors. These entities regularly send updates about your account activity to the three major nationwide credit reporting agencies: Equifax, Experian, and TransUnion. This reporting process typically occurs once a month, often around your billing cycle or statement closing date.
Information transmitted includes details such as payment history, current account balances, new account openings, and account closures. While most lenders report monthly, the exact day can differ for each provider, meaning there isn’t a single universal reporting date for all accounts. Not all lenders report to all three credit bureaus; some may only report to one or two, or none. This voluntary reporting system means your credit score data is continuously updated by various sources on their own schedules.
Credit Score Generation and Refresh Cycles
Credit scores are not fixed numbers; they are recalculated based on updated information received by the credit bureaus. While underlying credit data is usually reported monthly, your credit score can refresh more frequently depending on active credit accounts and when individual lenders send updates. A new score is generated when there is new data for the scoring models to process.
Both FICO and VantageScore, the two primary credit scoring models, use updated information from your credit reports to generate your score. Since lenders do not all provide updates on the same day, new information can be added to your credit report frequently, leading to your credit score changing multiple times within a month. Your score updates at least once a month, and fluctuations can occur more often if creditors report new activity throughout the month.
Accessing Your Credit Score
You have several avenues for viewing your credit score, and the frequency with which these platforms display updates varies. Many banks and credit card companies offer free access to your credit score, often updating it monthly. Some providers update FICO Scores monthly, around mid-month.
Reputable third-party financial apps and websites also provide free credit scores, with some offering weekly or even daily updates, though these may often be VantageScore models. While these platforms provide frequent updates, the score displayed reflects information available to that specific service at that moment, which may not always be the latest across all bureaus. You are also entitled to a free copy of your credit report from each of the three major credit bureaus weekly through AnnualCreditReport.com, although this site does not include your credit score.