How fast is your credit score affected by changes in credit utilization?

Basically, how current is the credit agencies records?





Under normal conditions, my credit utilizaiton varies wildly.





When applying for credit, I generally want 10-20% credit utilization. I can make that happen, but I wanted to know:





How long after I make it 10-20% should I apply for credit?


How long do I need to hold my credit utilization at 10-20%?|||Most creditors report to the credit bureaus once a month.|||Long discussion:


35% of the score is influenced by the Account history


30% 鈥?usage (the less the usage the better it is)


15% 鈥?length of credit.


10% 鈥?New inquires


10% 鈥?Variety (different types of credit).


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|||Credit usage of 30% or less of what is available demonstrates a responsible use of credit. To determine your credit usage add all the credit limits for your cards, and all the current balances.





Credit Usage = current balances / credit limits.


A credit usage of .25 would be 25%.





Why does your credit usage vary wildly? Does that mean that some months your balance get dangerously high? If you cannot afford to keep your usage down to the 30% range - can you afford more credit?





You should keep your credit usage at or below 30% permanently.|||A bad credit score used to make it impossible for individuals and families to borrow money for home and car financing. Today, there are several companies which not only give individuals with bad credit unsecured loans but actually cater to people who have extremely low credit scores.





If you are interested in an unsecured loan there are a number of issues to explore before applying. The first and most important step is knowing how bad your credit score is. The easiest way to get your credit score is to go to a credit agency. However, there are banks and mortgage companies which offer their customers a free yearly credit report 鈥?all you have to do is ask.





The interest rates offered to you can be effected by bad credit scores or no credit at all. There are many websites which offer an instant credit report for a small fee. Another reason to check your credit score is it may not be as bad as you think it is. Often credit ratings are simply misunderstood by individuals.





In process of receiving your credit score be sure to check your credit report for improper information. Credit reports can be the first indication of credit card fraud or identity theft. Both of which can leave individuals and their families emotionally and financially devastated.|||usually a creditor has to report you as negligent on your bill and there are guidelines Im sure they have to follow (a criteria that has to be met) in order to warrant the issue of a negative mark on your credit history) So its not really a "real-time" issue.There are privacy issues as far disclosure of loan and payment amount records.