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How long does a company have to report payments to the credit beaura (sp?)

I paid off my credit card in december and it still isn't off my credit, it shows that I still owe.

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my4loves3

Asked by my4loves3 at 10:03 AM on Feb. 23, 2010 in Money & Work

Level 8 (208 Credits)
Answers (3)
  • Sometimes once it is paid they stop reporting to the bureau and that last amount stays there. It costs to report. If you call them and ask them to report a paid balance they might. You can also ask for a letter stating it was paid in full and fax it off to the 3 major credit bureaus yourself.
    Anonymous

    Answer by Anonymous at 10:16 AM on Feb. 23, 2010

  • Good or bad credit will remain on your credit report for 7 to 10 years.. They have to send updates to the credit reporting agency periodically.. It does take time for it to show paid off on your credit report tho. Some report every 3 months, some every month. I would call the credit card company and make sure it is paid off. Keeping the account open might help on your score if you are not far in debt. So if you don't have any other debt keep the account open but paid off. If you do use it pay it off again the following month.
    midnightmoma

    Answer by midnightmoma at 10:33 AM on Feb. 23, 2010

  • You can file a dispute with the credit bureaus yourself. This will start an investigation. I believe the bureau has 30 days to resolve it or remove it from your file. You can also submit explanation letters about periods of frequent lateness on bills or bankrutcy.
    motherofhope98

    Answer by motherofhope98 at 10:48 AM on Feb. 23, 2010

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