Experian updates your credit score at least once a month. However, if lenders and other data reporters send updates to Experian frequently, your credit score can change more often.
If you plan to buy a new car or take out a mortgage loan, you might find yourself checking your credit score daily to determine when it’s best to apply for the loan. However, credit scores are updated at various times throughout the month, depending on the reporting dates of your credit issuers and lenders. So, even if you check your score today and apply for a loan tomorrow, your score could still change.
In this article, we’ll discuss how often Experian updates your credit score so you can stay informed about your financial standing and secure better loan terms.
When Does Experian Update Your Credit Score?
Experian may change your credit score at least once a month whenever your credit report is updated. This is because credit scores are calculated using statistical analysis of the data in your credit reports. Experian gets information about your payment activity from credit card issuers, lenders, and other financial relationships. These may include:
- Payments you’ve made and whether they were on time
- Changes in your credit card balances
- Your overall outstanding debt
- Recent credit applications or new credit accounts and loans you’ve opened
Note: If you use Experian Boost®, your Experian credit score can also include eligible utility, cellphone, streaming, insurance, and online rent payments.
As new data from various credit card issuers and lenders come in, Experian updates your credit reports. Since these entities report on their own schedules, your credit score may change frequently. For example, let’s say you have a mortgage, auto, and personal loan with the following reporting schedule:
❗️ Important to Note: Reporting schedules vary by lender. The photo above is only an example and doesn’t represent all lenders and their reporting dates to Experian.
In this example, your Experian credit report will be updated at least three times every month.
If you’re worried about variations in your credit reports and scores, don’t be—this is normal, and lenders understand it. Many lenders address these differences by using scores from two or all three credit bureaus–Experian, TransUnion, and Equifax–when making lending decisions.
What Factors Influence Change in My Credit Score?
When it comes to understanding what influences changes in your credit score and how frequently these changes occur, several key factors come into play. Here are the primary elements that can cause your credit score to fluctuate:
- Late payments: Your payment history is the most significant factor impacting your credit score, so missing a payment can significantly lower it. These negative marks can stay on your credit report for up to seven years, affecting your score throughout this period.
- Credit utilization: This measures the amount of credit you’re using compared to your total available credit. A lower utilization rate is better for your credit score. For instance, paying down high balances on your credit cards can quickly improve your score as soon as the lower balances are reported to the credit bureaus.
- Frequency of credit report updates: Credit reports are updated frequently, typically once a month, as lenders report new information. However, the timing can vary depending on each lender’s reporting schedule. This means that changes in your credit behavior, like paying off a debt or opening a new credit line, are reflected in your credit report.
- New credit inquiries: Every time you apply for new credit, a hard inquiry is made on your credit report. While a single inquiry might only cause a small dip in your score, multiple inquiries in a short period can have a more substantial negative impact. So, be mindful of how often you apply for new credit.
Understanding these factors and how they interact can help you make informed decisions to maintain or improve your credit score. Paying bills on time, keeping credit card balances low, and being cautious about new credit inquiries are key practices for managing your credit effectively.
How Long for a Credit Score to Update After Paying Off Debt?
When you pay off debt, it can take a bit of time for your credit score to update. Credit bureaus usually get new information from your creditors every 30 to 45 days. So, after paying off a debt, you might need to wait over a month to see any changes in your credit score. You’ll see the update once your creditor reports the new information.
Why Is My Experian Not Updating?
If it’s been more than a month and your Experian credit score hasn’t changed despite a new credit card balance or application, there might be an error or dispute on your account. This can happen due to mistakes by the lender or credit bureau, identity theft, fraud, or other issues. The Consumer Financial Protection Bureau says that one in five Americans has an error on at least one credit report, so regularly checking the accuracy of your credit reports is essential.
If you suspect an error, dispute the information immediately with the creditor and credit bureau. First, contact the credit bureau, explain the inaccurate or incomplete information, and provide proof. For example, if your report shows late payments you made on time, include evidence of those payments. If you don’t have proof, contact the creditor who reported the information and ask for help with your claim. These steps will increase your chances of correcting the errors.
Is Experian Credit Score Higher Than Equifax?
Your Experian credit score might be higher than your Equifax score, but this isn’t always the case. Experian and Equifax use different scoring scales, which can lead to different scores.
| Category | Experian | Equifax |
| Excellent | 800 to 850 | 760 to 850 |
| Very Good | 740 to 799 | 725 to 759 |
| Good | 670 to 739 | 660 to 724 |
| Fair | 580 to 669 | 560 to 659 |
| Poor | 300 to 579 | 280 to 559 |
As seen in this table, Experian scores are based on the FICO score ranging from 300 to 850, while Equifax scores range from 280 to 850. This 20-point difference means that even if your creditworthiness is similar, your scores might not be directly comparable. A higher score on Equifax doesn’t necessarily mean your credit is better; it’s just measured on a different scale.
If you need help getting a higher credit score, try Cushion. With this app, you can build your credit history by paying bills and Buy Now Pay Later (BNPL) payments you’re already making. Simply use the virtual Cushion card for your regular payments, and Cushion will report them to Experian each month. This way, your everyday expenses contribute to improving your credit score.
Summary
Experian updates your credit score at least once a month, but it can change more frequently if data from lenders and other sources is reported more often. Even if you check your score frequently, immediate updates are not guaranteed, as credit scores update at various times throughout the month. Knowing when credit scores update can keep you informed about your financial status and make smarter decisions when applying for loans or credit cards.
