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Contributor
RichieNY
Posts: 118
Registered: ‎12-04-2008
0

question about new accounts

On my Credit reports there are only negatives right now...chargeoffs and collections

 

this month I opened 3 accounts, a credit card, a crown jewlers account, and an amex AU

 

When these 3 start to report will true credit notify me?

 

in other words do they report when payments are made on time or does true credit only show negatives?

 

stupid question, I know, but in my case I am only used to negatives :\

 

I am just starting to rebuild now

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: question about new accounts

TC will first alert you within a day or so when these first report to the CRAs. YMMV. Some CCs first report when the card is first opened (e.g. GEMB, BofA, or Juniper, in my case anyway) and yet others will first report when the very first statement is cut (Wachovia, Chase).

 

The payments are obviously due before the statement date. TC doesn't show a payment but will reflect a balance change likely showing the payment and you will not be alerted to that (unless you are late or OTL). Most balances update around the statement date.

 

Contributor
RichieNY
Posts: 118
Registered: ‎12-04-2008
0

Re: question about new accounts

ok, the credit card I opened, only one I was approved for was first premeir FYI

 

so true credit will alert of balance changes, but, will they physically list those 3 accounts, or are they not listed unless I am late?

 

thanks

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: question about new accounts


RichieNY wrote:

ok, the credit card I opened, only one I was approved for was first premeir FYI

 

so true credit will alert of balance changes, but, will they physically list those 3 accounts, or are they not listed unless I am late?

 

thanks


 

No, TC will not alert you on balance changes. You can see changes to your balances after you pull a report, assuming the balances updated (again, usually goes by the statement), but they will not e-mail you an alert if the balance changes (unless there is a setting for that, hmmm). I just pull TC every day and see those changes for myself.

 

They will show those 3 TLs once those 3 TLs report. Again, YMMV based on when they report.

Contributor
RichieNY
Posts: 118
Registered: ‎12-04-2008
0

Re: question about new accounts

thanks
Contributor
RichieNY
Posts: 118
Registered: ‎12-04-2008
0

Re: question about new accounts

with my collections and chargeoffs being 4 years old, I am hoping these 3 new tradelines, only tradelines i have opened in years, will greatly increase my score

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