Myth: My Credit Score Only Changes Every Six Months

Fact: Your credit score can change any time new information is reported to the credit reporting agency. Creditors report information at different intervals, and each credit bureau updates its respective database on its own schedule. Credit scores are dynamic. That means any new information—either positive or negative—will be reflected in your current credit score at each of the three big credit bureaus. What constitutes “new information?” New information could be data reported to the credit bureau regarding, timely payments, delinquencies, or collection activity by one or more of your creditors. It could also be the aging off of negative information.