When Do Credit Card Companies Report to Credit Agencies?

When you open a credit card account, the card issuer reports this information to one or more credit bureaus. When you make or miss a payment, the issuer reports this as well. Different credit card companies use different credit bureaus and report at different times. In most cases, you should see a new account appear on your credit report within a month. In some cases, it takes longer.

Credit Bureaus

There are three main credit bureaus in the U.S.: Experian, Equifax and TransUnion. Some creditors use all three, others just one or two. Your credit report varies slightly depending on which bureau issues it. The bureaus also use different formulas to calculate credit scores. When analyzing your credit score, you should consider all three credit scores, not just one. Before applying for a credit card, consider finding out which bureaus the issuer uses. It can mean a difference between an approval or a rejection.

Credit Reports

Your credit report contains personal information, such as your name, date of birth, Social Security number, address, driver's license number and, possibly, the name of your employer. It also has a list of your credit accounts, credit limits, the amount you owe and whether the account is in good standing. If you've filed for bankruptcy within the past 10 years, it will be on the report, as will any liens and debt-related court judgments.

Credit Reporting

Credit card issuers report to credit bureaus every 30 to 60 days on average. If you've taken out a new credit card, it should show up on your credit report at the start of the following month. In other words, if you added a credit card in October, it will be on the report by the first week of November. Credit card companies should report both your balance and credit limit, though some (notably CapitalOne) do not. Without knowing your credit limit, the bureau uses your maximum balance to calculate your debt-to-credit ratio. This can make it appear you've used all your available credit--maxed out your credit line--when you have not.

Fixing Mistakes

You should check your credit reports on a regular basis, in case there are errors. Even a small mistake can cost you points on your credit score. You can obtain a copy of your credit reports free of charge at annualcreditreport.com once a year. If you notice an error, file a claim directly with the credit bureau. The bureau will investigate, and, if your claim is valid, it will correct the information within 30 days.