Credit Bureau memory refresher

For just about anything you want to get off your chest about credit cards.
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Whatamuji
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Credit Bureau memory refresher

Postby Whatamuji » Thu Jul 16, 2015 11:53 am

Can someone refresh my memory concerning credit bureau reporting. Do all credit cards report to all 3 credit bureaus or only to whom they like?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k


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CarefulBuilder14
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Re: Credit Bureau memory refresher

Postby CarefulBuilder14 » Thu Jul 16, 2015 1:02 pm

The vast majority of major cards report to all three bureaus. They can be irregular about sending updates, though.

Barclaycard, for example, reported my Arrival as a new account the same day I applied for the card (and was instantly approved). They haven't sent the bureaus any recent updates, though, so my reports still show a balance on Arrival that I paid off in early June.

Some subprime cards only report to one bureau. I'm not totally sure of the process, but the other two bureaus (I think) usually pick up on the information and include it, even if they don't get it directly from the lender.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Whatamuji
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Location: Houston, TX

Re: Credit Bureau memory refresher

Postby Whatamuji » Thu Jul 16, 2015 4:44 pm

Okay so if I want to boost my Experian score would any of my cards that I currently own fit the bill?
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

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CarefulBuilder14
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Re: Credit Bureau memory refresher

Postby CarefulBuilder14 » Thu Jul 16, 2015 6:53 pm

Whatamuji wrote:Okay so if I want to boost my Experian score would any of my cards that I currently own fit the bill?

I'm not quite sure what you're thinking of doing, but all your cards should report to Experian without an excessive delay. I'd focus on gardening and letting your accounts/inquiries age. Your score will rise with time. Unless you have baddies or high utilization, there's really nothing you can actively do to boost your score much. Patience is key.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

takeshi
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Re: Credit Bureau memory refresher

Postby takeshi » Tue Jul 21, 2015 3:13 pm

Whatamuji wrote:Can someone refresh my memory concerning credit bureau reporting. Do all credit cards report to all 3 credit bureaus or only to whom they like?

Not every creditor (not just credit cards but any type of credit account) reports to all 3 of the majors. We can't provide an exhaustive list but you can certainly refer to prior discussions here and on other sites.

Whatamuji wrote:Okay so if I want to boost my Experian score would any of my cards that I currently own fit the bill?

All of those should report but whether they boost your score or not isn't just a matter of them reporting. It's all a matter of your existing creditor and how the various factors for each of those accounts all tally up. You can certainly decrease your score by having an account in poor shape report to Experian.



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