How often does Household Bank report to credit bureaus?
I recently got a Household Bank credit card in order to help build up my credit score. I have only used the card for small purchases and have paid off the balances for 2 months (the amount of time I've had the card) but no payments have shown up on my credit report as of yet. I was under the impression that Household Bank reported to the credit bureaus every month. Does anyone know when the payments might show up?
The report says you have the card and all the info about loan type and terms etc. and only when you don't pay or a late payment do they report it. The credit report is not an accounting balance sheet. Every month the credit reporting agencies get bad debts for the information to build credit reports. Once you have a good report, they don't need to keep reporting every time you write a check already.
November 28th, 2008 at 8:44 pm
since the account is so new, it may take up to 3 months for it to show up on your report. Household Bank is HSBC, and they, like many other banks, report monthly to the three credit reporting agencies. Give it some time and look again, it will show up unless they have your information wrong, such as your social or name. If you don't see it by the next billing cycle, I would call them and ask.
Marla, you obviously don't know what you are talking about. If that were the case, then why do we emphasize so much on getting a good credit history? So, basically an 18 year old will have perfect credit because theres no deragatory information reported about them? I think you've lost it…Positive credit history plays a major role, and accounts are reported Monthly, and all types of activity is reported such as payments, balance, etc.
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I work at Bank of America card services, I know how it goes.