We are waiting to get pre approved for a home loan. I started working on my credit 6 months ago and I estimate that after last month’s payments (paid off 100% of my credit cards and making on time payments for the last 6 months), I will finally reach the threshold I need to get pre-approved. DTI is excellent and my husband’s scores are great. We are just waiting for mine to gain the points needed. Anyway, I have tracked my credit lines reporting for the last 6 months and all report as follows:
Auto – 30th of every month
Student loans – 2nd of the following month
Credit card – 3rd of following month
Credit card – 10th of following month
I made all my July payments and it is now August 7th. By now, Auto, Student, Credit Card 1 will have reported. When will the credit bureaus show the report? I was waiting until myfico and credit Karma sent me alerts, but I noticed there is a lag for when alert me. If I don’t have to wait for their alerts, I could have the mortgage company pull my credit on the 11th to issue the pre-approval. But if there is a lag between when the credit lines report and the 3 credit bureaus actually show the update (even if they are back dating them), then I don’t want to have him pull the reports too soon.
So, my question is, when the credit lines report, is that reflected on my report instantaneously and just credit Karma and myfico is lagging? Or is there a true lag from when the credit lines report and the 3 credit burearus update?