Who Reports to a Credit Bureau?

A credit bureau is an organization that tracks the credit histories of individuals. The three major credit reporting agencies are TransUnion, Equifax and Experian. A credit report includes a person's identifying information, account history, public records and credit history inquiries when a person applies for credit accounts. Businesses use credit reports as a basis for lending money and extending credit. It's good to know who reports information to the credit bureaus as you build your credit for future purchases and financing.

Credit Cards

Cards such as Visa, MasterCard, American Express, retailers and gas credit cards report individual account information every 30 days. They show the date an account opened, current balance at time of reporting and the credit limit. Credit cards can quickly build up your credit or damage it depending on your payment history. Companies will report a payment late in increments of 30, 60, 90 and 120 days, which all have a negative impact of the overall credit score.

Personal and Car Loans

Car loans build your credit.

Personal and car loan lenders report to the credit bureaus on a monthly basis. These lenders provide installment loans with a fixed payment, interest rate and term. These companies report to the credit bureaus the amount advanced, current balance, payment, name of finance company, date opened and payment status. A personal loan can be used for a variety of things such as vacations, bill consolidation, home repair or emergencies.

Mortgages

Mortgage companies also report to the credit bureau if you are on the actual loan. If you rent or are just on the deed to the mortgage, that information will not be reported. A private mortgage between two individuals will not generally report to the credit bureau. A lender of a private mortgage may provide the private mortgage information with proper documentation on payment history to the credit bureaus; in certain situations, the the credit bureaus will report the information, but you'd want to make sure the lender continues to report every 60 days.

Bankruptcies, Judgments, Liens and Medical Bills

Bad collections and bankruptcies affect credit reports.

Courts report bankruptcies and judgments to the credit bureaus. Bankruptcies take up to 10 years to disappear from a credit report, which adversely affects credit scores. A discharged chapter 13 will remain on a credit report seven years from the date filed. Judgments are the result of a lawsuit due to unpaid debt. A judgment will show up for seven years from the date filed whether it has been paid. Tax liens that have been paid will report for seven years from the date paid; unpaid will show indefinitely. Medical bills will also find their way on a credit report when not paid.