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Please help...question about reporting times for CC

New Member

Please help...question about reporting times for CC

Hello all! I would really appreciate any advice you can give me.

I am so very close to getting a 620 and qualifying for a mortgage loan.

I've never used credit cards, don't like the temptation of them and try to only buy what

I can afford within reason. Of course, my credit has suffered so I signed up for a secured card

with a $320 limit. My mortgage lender says that once that card starts reporting, I will see a jump of @25-30

points on my scores (she's run it through a simulator).

I have used the card, paid it down twice and received a statement but nothing yet.

 

It's been around 45 days and it's driving me nuts waiting. I have to be out of my rental in

40 days or so and I am poised to make an offer...as soon as this freaking card shows up.

 

**To those with experience with this sort of thing, how long did it take your cards to start reporting?

 

**Is there anything else I can do other than waiting to speed up this process?

 

Thanks so much for listening!

-seeker

 

 

 

Message 1 of 4
3 REPLIES
Senior Contributor

Re: Please help...question about reporting times for CC

If you pay it down before the ccc reports, your credit will alsways show a "0" balance.

 

Buy something for (for instance) $75.  Wait for statement...then pay $40.00  This balance will soon show up on your CR. Then if you wantpay it off.  It's good to have some usage showing. 



Starting Score: 02/2015 TU 709 - EQ 676 - EX 729
Current Score: 04/2017 TU 754 - EQ 757 - EX 747
Goal Score: 850

Bury me in the garden...last app 08.09.15

Message 2 of 4
Moderator Emeritus

Re: Please help...question about reporting times for CC

Which CC is it?
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Free Annual Reports, Freq. Requested Threads, 5 Things We Don't Talk About, Common Abbreviations, Where do I start?, State Resources
Message 3 of 4
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New Member

Re: Please help...question about reporting times for CC

Orchard Bank
Message 4 of 4