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Ex: Does it report once you are approved for the account? or does it report after 30 days?
Specifically looking for Penfed / Digital / Patelco / Addison or other commonly discussed credit cards.... and assuming installment loans would report the same.
Some lenders report the new tradeline within 3 days, and some take as long as 90 days.
PenFed report the new tradeline when your first statement generates. I'm not sure how soon installment loans are reported
I wasn't able to tell when my PenFed posted because ScoreWatch didn't alert me. I got a free copy of a report elsewhere, and the account was already there...but ScoreWatch didn't let me know.
I only got my card in August, so it reported rather quickly...my guess would be with the 1st statement. When I let the 2nd statement show a $70 balance, I got an alert that a balance had increased, but never got one for the new account showing.
@hemi961 wrote:
Some of the bank cards I have reported the day after I was approved, Discover and Ameriprise are 2 examples for me. I have 5 credit union cards and they all reported just after the first statement, which in 3 cases was 30 days after approval. Give them a call and ask when your billing cycle ends and they will tell you. I always wanted to know so that I could control the number of cards reporting a balance.
DI's PenFed account reported after first statement was generated, and your experience has been after the first statement also. So that would be about 3-4 weeks+ correct?
Also would you mind sharing which 5 CU's you have had this experience with? and which 3 reported after 30 days? PenFed? Navy?
oh okay i get it. I'll call to make sure.
So you're saying that every card varies? and that it can be anywhere from 1- 30+ days?
@Anonymous wrote:oh okay i get it. I'll call to make sure.
So you're saying that every card varies? and that it can be anywhere from 1- 30+ days?
AMEX takes the longest. 60-90 days.