When Does Credit Score Update? Planning Your Next Move in Canada

Credit scores can be a waiting game. We’ve watched our own numbers stay stubbornly still after paying off a big balance, only to jump weeks later. It’s not random. The timing of a credit score update is tied to when lenders report to the bureaus and how those bureaus process your data. 

At Cars With Chloe, we’ve helped people with all kinds of credit backgrounds, so we’ve seen how knowing this cycle can help you plan smarter - whether you’re dreaming of a new car or trying to repair your credit.

Key Takeaways

• Canadian credit scores typically update every 30 to 45 days, based on lender and bureau cycles. [1]
• Updates can show up at different times with Equifax and TransUnion, which can cause score differences.
• Most credit behavior changes (like big payments or new accounts) appear on your report within one or two cycles, not instantly.

Credit Score Update Timing and Frequency

The number one question we get when someone’s preparing for a car loan is: “When will my credit score actually change?” The answer is a bit like watching the seasons change. There’s a pattern, but also a lot of waiting - and sometimes surprises.

How Credit Scores Are Updated

Most lenders in Canada report your account details to the credit bureaus about once a month, which is a key factor when you're hoping to qualify for zero down car loans. They send your payment history, your balances, and any new credit activity. But they don’t all send it on the same day. One credit card company might report on the 5th, your car loan might report on the 20th. When the bureaus receive this new information, they update your credit report and recalculate your score.

We’ve noticed, both personally and with our Cars With Chloe customers, that this lag can feel endless if you’re waiting for a good payment to show up. You might pay off a credit card on March 2nd, but if your lender only reports at the end of the month, your new balance might not be reflected until the first week of April.

Lender Reporting Cycles and Their Impact

Lenders all have their own reporting routines. Some update every account right after the statement closes. Others wait until your payment due date passes. There are even some that only report every other month, although that’s less common. If you have more than one account, you’ll notice your credit score changes in little jumps, not steady increments.

Role of Credit Bureaus in Credit Score Refresh

Equifax and TransUnion, the two main credit bureaus in Canada, gather all those lender updates and then process them in batches. We’ve seen times where one bureau updates a few days before the other. This is one reason people often see slightly different scores depending on which report they check.

Typical Update Intervals in Canada

Most Canadians see their credit reports update every 30 to 45 days. That means if you make a big payment or open a new account, you’ll likely see the effect within one or two billing cycles.

• If you pay off a credit card, the change appears after the lender’s next reporting date.
• If you apply for new credit, the hard inquiry often shows up almost immediately, while the new account itself may take a full cycle.
• If you miss a payment, it’s usually reported within 30 days, and the negative impact can be felt right away.

Variability Due to Different Lender Reporting Dates

Because each lender reports on its own schedule, your score might jump after one account updates, then move again a week or two later when another lender sends in their data. We’ve watched this happen on our own credit reports - sometimes we see three small changes in a single month, all from different sources.

Differences Between Equifax and TransUnion Updates

The two credit bureaus don’t always match up. Sometimes one will show a new loan or a paid-off balance a week before the other.

• Equifax updates can be processed a bit faster or slower than TransUnion, depending on their internal systems.
• Some lenders only report to one bureau, so you can have a higher or lower score on Equifax than TransUnion on the same day.

We’ve seen Cars With Chloe clients get confused or even worried when these numbers don’t match. It’s normal. The trick is to track your progress on both, not just one.

Factors Influencing Credit Score Changes

Your credit score isn’t just about one payment or one balance. It’s a mix of different actions, all feeding into a system that updates on its own schedule. [2]

Payment History Reporting and Its Effect

Making payments on time is the most important thing you can do for your score. But when those payments show up on your report depends on when your lender reports. We’ve had months where we paid off two cards, but only one showed up on our report before the next car loan application.

• If you pay before the statement closes, you’re more likely to see a positive update in the next cycle.
• Late or missed payments are usually reported quickly - often within the same month, and the score drop can be noticeable.

Credit Utilization and Account Balances

Credit utilization (how much of your available credit you’re using) is another big factor. We’ve seen our own scores jump by 20 or 30 points just by paying down a large balance before the reporting date.

• Big payments on credit cards are reflected when the lender reports your new balance.
• If your credit limit increases, the lower utilization helps your score, but again, only after the lender reports.

New Credit and Credit Inquiries

Opening new credit accounts almost always triggers a hard inquiry. That shows up quickly, sometimes within days, and can cause a small dip in your score. The new account itself (and its limit) usually appears on your report in the next monthly update.

• If you open two accounts in a short span, you might see two dips, each on a different date depending on when each lender reports.
• Soft inquiries (like checking your own credit) don’t affect your score.

Other Financial Behaviors Affecting Updates

We’ve seen people pay off car loans, close old cards, or even go through bankruptcy. Each event has its own reporting timeline.

• Paying off a loan often takes a full cycle to show up as “paid” on your report.
• Closing an account might also take a few weeks, depending on when the lender sends the update.
• Bankruptcy and dispute resolutions can take longer, sometimes two cycles or more.

Monitoring and Managing Your Credit Score Updates

We get it: waiting is hard, especially when you’re trying to improve your credit or qualify for a new car. Here’s how we keep tabs on our own scores - and what we tell Cars With Chloe customers.

Recommended Frequency for Checking Your Score

Checking your score every day won’t help - it just causes anxiety. We find that monthly checks make sense if you’re actively working to improve your credit, and every three months is fine for most people.

• If you’re about to apply for a loan, check your score a month before to catch any surprises or errors.
• Use free tools from Equifax, TransUnion, or your bank. These usually update once a month.

Understanding Credit Report Accuracy and Errors

Mistakes happen. We’ve spotted old accounts that should have been closed, or payments that were marked late when they weren’t.

• If you see an error, file a dispute as soon as possible - corrections can take a month or more to show up.
• Keep copies of your statements or any communication with lenders in case you need to provide proof.

Tracking Progress After Credit Behavior Changes

If you’re making changes - paying off debts, keeping balances low, or making every payment on time - your score will improve. It just takes patience.

• Expect to see improvements within 30 to 60 days after a positive change.
• If you’re monitoring both Equifax and TransUnion, check that both are showing the same information within a couple of months.

Reporting Practices and Credit Bureau Policies

Behind every credit score update is a maze of policies and reporting routines - some regulated, some just industry practice.

Lender Reporting Schedules and Variability

Each lender does things its own way. Some report all accounts at once, others stagger updates. We’ve watched our own balances update at odd times, depending on the lender.

• Infrequent or partial reporting can mean your credit score lags behind your real financial habits.

Credit Bureau Update Cycles and Processing Times

Equifax and TransUnion each have their own systems. Sometimes they process updates in a day, sometimes it takes a week. That’s why your score can seem to change overnight - or not change at all for a month.

• The typical delay between a lender sending data and your score updating is a few days to a week.

Policies Governing Credit Score Updates in Canada

There’s no law forcing lenders to report on a set schedule, but most do it monthly. Bureaus are required to make sure your data is accurate and private. If you dispute something, they have to investigate, but the fix won’t be instant.

FAQ

How often can I expect my credit score to change after paying off a loan or credit card balance, and what factors influence the timing of these updates?

Credit scores usually update when lenders report new information to credit bureaus, which typically happens once a month. However, the exact timing depends on when your lender sends the data and when the credit bureau processes it. Factors like the type of account, payment history, and recent credit inquiries all play a role in how quickly your score reflects changes.

If I recently disputed an error on my credit report, how long might it take for my credit score to reflect the correction once the dispute is resolved?

After a dispute is resolved, creditors must update the credit bureaus with corrected information, which can take several weeks. Once the credit bureaus receive and process the update, your credit score should adjust accordingly. The entire process, from dispute to score change, can take anywhere from 30 to 60 days depending on the complexity of the case.

Does the frequency of credit score updates differ depending on whether you have a secured or unsecured credit account?

Credit scores update based on the information reported by lenders, not the type of credit account itself. However, some lenders for secured accounts may report less frequently than those for unsecured accounts, which can delay updates. The timing largely depends on each lender’s reporting schedule, which can vary widely, regardless of account type.

How do seasonal spending habits, such as holiday shopping, affect the timing and frequency of credit score updates during the year?

Seasonal spending can temporarily increase your credit utilization, which impacts your credit score once reported. Because credit scores update when lenders report monthly, you might see fluctuations after months with heavy spending. The timing depends on when the lender reports balances, so holiday spending can cause noticeable changes in your score in the following month or two.

When applying for new credit, how soon after a hard inquiry will a change in credit score be visible, and what else should I watch for during this period?

A hard inquiry usually appears on your credit report within a few days but may take up to a month to impact your credit score. The score change depends on your overall credit profile and recent activity. During this time, watch for updates to balances, new accounts, or other inquiries, as these combined factors influence your score’s movement after an application.

Practical Advice for Planning Credit Moves

If you’re hoping to qualify for a car, truck, or SUV, the best thing is to work with the system’s rhythm, not against it. We’ve learned this the hard way and we share it with every Cars With Chloe customer:

• Make payments a week before your statement closes so the positive balance is reported.
• Check both Equifax and TransUnion - scores don’t always match on the same day.
• Don’t stress if your score doesn’t move right after a payment. Give it a cycle or two.
• Dispute errors as soon as you spot them, and keep proof handy.

Above all, patience matters. Credit score updates aren’t instant, but if you keep good habits and watch the timing, you’ll see progress. If you’re gearing up to apply for a vehicle loan, plan your credit moves around that 30–45 day cycle. 

And if you need help, we’re here - sharing what we’ve learned and supporting Canadians, no matter their credit history. Pull your report, set a reminder for next month, and use the update cycle to your advantage. That’s how you stay a step ahead.

References

1. https://www.equifax.com/personal/education/credit/score/articles/-/learn/how-often-does-your-credit-score-update/
2. https://www.canada.ca/en/financial-consumer-agency/services/credit-reports-score/improve-credit-score.html

Related Articles

• https://carswithchloe.com/blog/understanding-bad-credit-scores/
• https://carswithchloe.com/blog/why-my-credit-score-is-low/
• https://carswithchloe.com/blog/what-factors-impact-credit-scores/