How often does your credit score change?

[Monica]

I’m new to credit. Just curious, how often does your credit score change? Is it once a month? On what day of month is it?

[Doug]

Credit scores change constantly

Welcome to the forums.

There is no one cut-off-date at which one’s credit score changes. Credit scores are reflections of the information that’s on your credit report.

Every time a creditor ask for your credit score from one, two or all 3 major credit bureaus, your credit report is pulled, and an algorithm is applied to the information that’s on it. The result of the algorithm is your credit report. This means that your credit score changes every time new information shows up on your credit report.

Here’s an example:
Say that today is September 15, and a creditor pulls your credit score.

Two weeks have passed, and a second creditor pulls your credit score. Since no new information was reported to your credit report – there will be no change in your credit score.

An hour later your CC Company reported that you are 30-days late on your CC payment.
A third creditor pulls your credit score 5 minutes later. The score this creditor will see is much lower than the score the two previous creditors got, because this time the late payment was included in credit score input formula.

Because numerous financial institutions report to the credit bureaus, each in a schedule of its own, there is no on cut-of-date in a month where credit score are expected to change. As new information flows in every day, credit scores change on the fly.

See this post for more information.

[Author]

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