If you've recently made a payment on one of your accounts, it can take some time to reflect on your credit report.
The reporting of your payment(s) will depend on the following factors:
- When you made the payment
- When the company reports it to Equifax Canada
- When Equifax Canada updates your file
- The date Borrowell provides your weekly update
Some lenders report slower and less frequently to the credit bureau. Although Borrowell provides you with a weekly update of your credit report, some lenders may report every few days, while others report every few weeks or months. It also takes time for Equifax Canada to update their file as well.
Kindly note that as we get this information from Equifax Canada, Borrowell can't change any items on your credit report. We suggest checking back in 2-3 weeks to see if your updates have been made.