How Often Does My Credit Card Report to the Credit Bureau?
Credit cards report your balance, payment history and credit limit to the major credit bureaus. Timely payments and proper credit utilization can help increase your credit score. Credit cards have different schedules for reporting information to credit bureaus.
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Credit Card Reporting
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Most credit cards report to bureaus on a monthly basis. If there are no changes to your account or your balance remains the same, you may not see an update for 60 days. Your balance at the time of reporting can differ depending on when a payment is made. It is a good idea to contact your credit card company's customer service department to inquire about the cut-off date for reporting. For example, some credit card companies report on the first of the month. Try to make your payment before the date reports are made to see a boost in your credit score.
Credit Bureau Updates
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Equifax, Experian and TransUnion are the three major credit bureaus responsible for supplying your credit information. When your credit card company reports to the credit bureau, they must immediately update your credit report to reflect the changes. If the information on your credit report is incorrect, contact the bureau to file a dispute and correct the error.
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Secured and Prepaid Cards
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If you have a prepaid credit card, do not expect the company to report to credit bureaus. Prepaid credit cards are an option for people with bad credit. They offer consumers convenience when it comes to spending but do not help credit scores. Secured credit cards are similar to prepaid cards but most secured cards do report to bureaus on a monthly basis. Before signing up for a secured credit card, find out if they report to the major credit bureaus.
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