Ask The Experts: How Often Does FICO Update Credit Scores?

Q. We're trying to refinance our mortgage and have been working to clean up our credit. All credit cards have a 0 balace and collections have been paid and I got them deleted from our credit reports. How often does FICO update scores? Our scores were close to 700 before deleting collections. -Nancy S.

A. Nancy - FICO scores don't update per se. The score is calculated at the moment your credit file is pulled. So, if the data on your credit report is different today than it was yesterday, the new score calculation will take into account the new information. FICO scores are referred to as a dynamic system, which in English means it's real time.

Your scores don't have any sort of memory.

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John Ulzheimer is a nationally recognized credit expert, president of Consumer Education for and contributor to On The Money. Learn more about him at