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discover new account reporting

Established Contributor

discover new account reporting

I have recently got approved for discover card. I have noticed that the hard inquiry is showing up on equifax report, but the credit line /account is not reported yet. Any one know how long it takes for discover to report. Also, once the new account gets reported, how will the credit score get affected immediately? (Assuming the util on the new account is pretty low).

Thanks

Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

Take the FICO Fitness Challenge
Message 1 of 34
33 REPLIES
Valued Contributor

Re: discover new account reporting

It usually reports after you make your first payment.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 2 of 34
Valued Contributor

Re: discover new account reporting

I think your score may go down initially but boost above the orig score within 3 months.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Message 3 of 34
Valued Contributor

Re: discover new account reporting

Discover is notorious for sometimes taking a few statements to report a new account. YMMV

Message 4 of 34
Established Contributor

Re: discover new account reporting

I'm in the same boat... new Discover account just waiting for it to report. Also I activated and made my first purchase on 12/9/12 and when I logged in it said a statement would be available on 12/18/12. Well, the 18th came and went and no statement. Whiskey Tango Foxtrot? Now when I log in it says my next statement will be generated on 1/18/13. That's almost a six week long billing period. I'm assuming that the 18th will be my regular statment date from now on, give or take a day.

 

~kn


EQ: 700 (FICO ScoreWatch) 11/26/14
EX: ??? (No Current)
TU: 681 (Discover FICO) 11/12/14

Last App 9/22/14... In Garden 'till Summer '15
Message 5 of 34
Established Contributor

Re: discover new account reporting

for me it says, the statement date is jan 4, 13


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

Take the FICO Fitness Challenge
Message 6 of 34
Valued Contributor

Re: discover new account reporting


tennisfan78 wrote:

for me it says, the statement date is jan 4, 13


I predict your new Discover card account will start reporting in Feb 2013.

Message 7 of 34
Established Contributor

Re: discover new account reporting

My discover card started reporting 2 months after I got it.


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014






Message 8 of 34
Established Contributor

Re: discover new account reporting

from personal experience and anecdotes, you should expect it to take 2 statements to start reporting. Also whenever you get a CLI, that also might take 2 statements to show up on the credit reports.

EQ-736(08/14) TU-752(09/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 11.7K | Disc It 10.5K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yrs AAOA: 2yrs
Message 9 of 34
Established Contributor

Re: discover new account reporting

Thanks for  the input. I will let you guys know once I see it reported.


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

Take the FICO Fitness Challenge
Message 10 of 34