Please tell me how long does a credit score take to update?
Until 2025, all 4 credit bureaus update credit information once a month. It means they make credit reports by collecting your credit and financial history from various lenders, banks, and other creditors and publish them within 30 days.
But starting January 1, 2025, the Reserve Bank of India (RBI) has made it mandatory for lenders to report twice a month.
As per the new guideline, lenders need to submit credit data to Credit Information Companies (CICs) on the 15th and on the last day of the month. To make this new guideline streamlined, lenders will get a 7-day grace period after each reporting date, and CICs have to process the data within 5 working days.
Why this change?
- RBI aims to streamline the process and ensure credit data stays accurate. For me, that’s a big win. You can now track your score more often and take responsible actions towards credit accounts.
- It also helps lenders. With up-to-date information, they can accurately evaluate your risk-taking capacity and make decisions that actually suit you.
Personally, I’d say check your score at the end of every month. It’ll give you a clearer picture and help you plan your financial moves with confidence.