Your 9 Most Common Credit Questions, Answered (Experian)
How Often Is My Credit Score Updated?
Your credit score can change[15] whenever new relevant information is reported to your credit file. Since this can happen at any time, your score could be different daily or even by the minute depending on when you or a lender requests it.
Here are a few examples of updates that can affect your credit score:
- Payments
- Changes to an account balance
- Increases or decreases in your outstanding debt
- New credit inquiries
Because your credit score can change frequently, don’t worry excessively about minor fluctuations. On the other hand, monitoring your credit regularly using a service like Experian’s free credit monitoring[16] can help you stay on top of cyclical changes to your credit score—and help you detect new credit inquiries that may be the result of identity fraud.
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Can I Get a Loan or Credit Card With Bad Credit?
You can find loans and credit cards even if your credit needs a little help. However, the lower your credit score, the less appealing your options may be. Typically, borrowers with fair or poor credit can expect to pay higher interest rates and fees and may need to provide a refundable security deposit on new credit card accounts.
Borrowers should avoid payday and other types of predatory lenders, who may offer credit without a credit check in exchange for triple-digit interest rates and terms that are nearly impossible to meet.
Need ideas? You can explore options with personalized recommendations on credit cards and personal loans based on your credit score using Experian’s CreditMatch™[17].
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How Do I Dispute Something on My Credit Report?
If your credit report shows information you believe to be inaccurate, you can file a dispute with any of the three credit reporting bureaus. You can dispute information on your Experian credit report by phone or mail, but the fastest route to resolution is online using the Experian Dispute Center. Get full details about the Experian dispute process[18], what you need to file a dispute and what to expect as the process plays out.