Credit union reporting

Anonymous · ‎10-09-2014

Do most of the credit unions report to all 3 reporting agencies? My local CU reports only to 2.

js0319 · ‎10-09-2014

Same here - local CU doesn't report to TU.

AMEX PRG - NPSL I AMEX Everyday Preferred - $34.8k I Capital One Venture - $20k I Chase Sapphire Preferred - $25.5k I Chase Southwest Rapid Rewards Premier - $20.7k I Barclay Arrival + - $10k I Capital One Quicksilver - $10k I NFCU Flagship Rewards Visa Signature - $15k I NASA FCU - $10k I Texell FCU Visa - $5k I Chase Freedom - $9.9k I Citi Double Cash - $7.8k I Discover IT - $5k I NFCU CLOC - $15k I Total Unsecured Credit - $188,700

EQ FICO - 714 (5/24/16) I TU FICO - 772 (5/24/16) I EX FICO - 770 (5/24/16)

CreditDunce · ‎10-09-2014

It is hit or miss. In the old days most creditors only reported to their local CRA. Now most report to all three. But they don't have to report to any CRA's. It is just that any credit info they report must be accurate.

The rule of thumb is to have at least 3 CC's. If your CU only reports to two CRA's, I wouldn't count that TL in the minimum required CC's. It may still be a positive account. And I wouldn't close it just because it only reported to two CRA's. But it is best to make sure you have 3 revolvers on each CRA.

Anonymous · ‎10-09-2014

Has it kept anyone from getting loans from them? The last thing I want when I grab a 28K loan is for them to not report to all 3. I just grabbed a credit card from them and they told me they only report to 1 CB. This was after I applied for it of course, but the good thing is that they didn't do another hard pull for the card as I grabbed an installment from them and that reports to 2. Go figure.

CreditDunce · ‎10-09-2014

@Anonymous wrote:
Has it kept anyone from getting loans from them? The last thing I want when I grab a 28K loan is for them to not report to all 3. I just grabbed a credit card from them and they told me they only report to 1 CB. This was after I applied for it of course, but the good thing is that they didn't do another hard pull for the card as I grabbed an installment from them and that reports to 2. Go figure.

IMO you should put your financial health before your credit health. I will go with the CU who gives me the best deal, no matter how many CRA's they report to. However, if all things equal I would prefer giving my business to a lender who will report to all three CRA's.

I am fortunate enough that my CU reports to all three CRA's. The biggest issue I have is EQ deleting positive accounts after 7 years.

Anonymous · ‎10-09-2014

@CreditDunce wrote:
@Anonymous wrote:
Has it kept anyone from getting loans from them? The last thing I want when I grab a 28K loan is for them to not report to all 3. I just grabbed a credit card from them and they told me they only report to 1 CB. This was after I applied for it of course, but the good thing is that they didn't do another hard pull for the card as I grabbed an installment from them and that reports to 2. Go figure.
IMO you should put your financial health before your credit health. I will go with the CU who gives me the best deal, no matter how many CRA's they report to. However, if all things equal I would prefer giving my business to a lender who will report to all three CRA's.

I am fortunate enough that my CU reports to all three CRA's. The biggest issue I have is EQ deleting positive accounts after 7 years.

I agree with all you've said and the reason I am asking is that Ford financial looks like it can match the CU. Obviously I'm not going to go into a loan that is gonna be with higher % just so I can satisfy the CB's, but if someone is to spend that much it would be nice if it is reported.

Anonymous · ‎10-10-2014

Mine reports to all three. I checked on that before applying for secured cc and secured shared savings loan.

takeshi74 · ‎10-10-2014

@Anonymous wrote:
Do most of the credit unions report to all 3 reporting agencies? My local CU reports only to 2.

There's a chance that any creditor -- CU or otherwise -- does not report to all 3. Just depends on the given creditor.