Debit Vias/Mastercard has to report...

[annielorie]

Bought a car this weekend and the finance guy says any debit card carrying the visa or mastercard logo has to report he said to contact TR and tell them your card is not listed on reports they do investigation then contact chase and tell them they are required to report ...ANY THOUGHTS ON THE VALIDITY OF THIS???  

[pizzadude]

Ummm.... No. Sorry but debit cards don't report and would be ignored by FICO® scoring even if they did show up on your reports ~ they are not credit products.

[YahComb]

There are some prepaid cards that report to some alternative credit bureaus, but debit is not credit and therefore does not show up on any major credit bureau credit files that banks and other lenders use.

[Repo-ed]

That saleman was clearly just trying to feed you a pitch.

[annielorie]

Feed this pitch no job 0 down 277 a month hyundai sonata HAHAHA but seriously he tried to sell me that because it has a vias logo if persued they have to report I said I didnt think he was right he was full of nmdj anyway

[NewSurrender]

---

@annielorie wrote:

Feed this pitch no job 0 down 277 a month hyundai sonata HAHAHA but seriously he tried to sell me that because it has a vias logo if persued they have to report I said I didnt think he was right he was full of nmdj anyway

---

The amount you pay per month is extremely irrelevant when it comes to bragging about how good of a deal you got.

If you negotiated your monthly payment instead of the price of the car, I'm pretty sure you got fed a pitch, but okay.

To answer your question, think about it. Why would a debit card be reported to a credit bureau?

[JusdoNit]

          Sounds like a buch of hog wash.       That would be reporting your personal checking account balance every month.  I wish a .....

(insert first adjective that comes to mind)...WOULD!

[calihlove75]

Man I wish my debit cards reported. I would have an extra 3 years history!!

[LionLaw]

General advice: the finance guys at auto dealerships are generally pretty sleazy and shouldn't be trusted for anything, least of all financial advice (at least in my experience).

As for your question: Like everyone else has said, the information he gave you about debit cards on credit reports is wrong. The Visa or MasterCard logo simply means your card has access to the Visa or MasterCard payment network.  If the underlying account is a checking account (or some other type of account that's not a credit account), there's no reason it should appear on your credit report.

[JusdoNit]

---

@LionLaw wrote:

General advice: the finance guys at auto dealerships are generally pretty sleazy and shouldn't be trusted for anything, least of all financial advice (at least in my experience).

As for your question: Like everyone else has said, the information he gave you about debit cards on credit reports is wrong. The Visa or MasterCard logo simply means your card has access to the Visa or MasterCard payment network.  If the underlying account is a checking account (or some other type of account that's not a credit account), there's no reason it should appear on your credit report.

---

Well said