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That's what I have always seen on my reports.
jacred wrote:
Thanks very much for the info! So to check, this means that my card opened on 4/9/08 officially "hit" the 6 month mark for credit scoring on 10/1/08 rather than 10/9/08?
A few tricky things on this.Also very good to know. I will wait until 10/18 to pull my EQ score & report through here, but to clarify, will it be obvious how many statements have reported?
I haven't pulled a report through MyFico before, but I'm looking at the basic annualcreditreport.com EQ report I pulled on April 20 (shortly after opening the cards) my "81 month payment history" for the Discover card had little "pays as agreed" stars under both February and March - even though on April 20 only one statement had yet posted & been paid...
Oh actually, now I'm seeing there is another spot that says "Months reviewed: 1" so possibly that tells how many statements have been reported. So maybe to be safe I want to wait until that number is at least 6 for both cards...
Thanks muchly for your thoughts!
Even after six+ months of having a card, you might not see it having been reported six times. American Express is notorious for taking several months to report the existence of a new card, but when it finally does, it will show the month opened. So you may only have 5 dates listed, but it will show as being six months old.
Lenders pull the full reports from the credit bureaus. The reports that you see on myFICO (and TrueCredit, and CreditSecure, and the rest) are "secondary" reports, for lack of a better term. Payment history can display oddly on these, but still be correct on the underlying full report. As you are looking at an EQ from annualcreditreport.com, that should be the consumer version of a full report. To be sure, look under "inquiries" and see if it shows soft pulls as well as hard pulls.
There's a good chance that your balances aren't updated on the exact day of the month that you opened your account. Some do, some don't. EQ unfortunately does not display MM/DD/YYYY, only MM/YYYY. If your Discover is from Discover, as opposed to being issued by HSBC or another company, it is reporting at the close of day on your statement date. So my Discover statement date is on the 2nd (I changed it for sanity's sake), and I have seen it show up on EX on my True Credit reports on the morning of the 3rd, with a report date of the second. I don't know personally when CapOne updates, but I'm reasonably sure it is on the statement date also. The trick is that EQ rarely updates right away, usually taking 5-7 days and sometimes longer to update.
This exasperating problem of wondering if everyone has updated is why so many of us use TrueCredit and similar services that allow us to update reports daily, if we want. It keeps the neurotic streak happy.
That's what I have always seen on my reports.
jacred wrote:
Thanks very much for the info! So to check, this means that my card opened on 4/9/08 officially "hit" the 6 month mark for credit scoring on 10/1/08 rather than 10/9/08?
A few tricky things on this.Also very good to know. I will wait until 10/18 to pull my EQ score & report through here, but to clarify, will it be obvious how many statements have reported?
I haven't pulled a report through MyFico before, but I'm looking at the basic annualcreditreport.com EQ report I pulled on April 20 (shortly after opening the cards) my "81 month payment history" for the Discover card had little "pays as agreed" stars under both February and March - even though on April 20 only one statement had yet posted & been paid...
Oh actually, now I'm seeing there is another spot that says "Months reviewed: 1" so possibly that tells how many statements have been reported. So maybe to be safe I want to wait until that number is at least 6 for both cards...
Thanks muchly for your thoughts!
Even after six+ months of having a card, you might not see it having been reported six times. American Express is notorious for taking several months to report the existence of a new card, but when it finally does, it will show the month opened. So you may only have 5 dates listed, but it will show as being six months old.
Lenders pull the full reports from the credit bureaus. The reports that you see on myFICO (and TrueCredit, and CreditSecure, and the rest) are "secondary" reports, for lack of a better term. Payment history can display oddly on these, but still be correct on the underlying full report. As you are looking at an EQ from annualcreditreport.com, that should be the consumer version of a full report. To be sure, look under "inquiries" and see if it shows soft pulls as well as hard pulls.
There's a good chance that your balances aren't updated on the exact day of the month that you opened your account. Some do, some don't. EQ unfortunately does not display MM/DD/YYYY, only MM/YYYY. If your Discover is from Discover, as opposed to being issued by HSBC or another company, it is reporting at the close of day on your statement date. So my Discover statement date is on the 2nd (I changed it for sanity's sake), and I have seen it show up on EX on my True Credit reports on the morning of the 3rd, with a report date of the second. I don't know personally when CapOne updates, but I'm reasonably sure it is on the statement date also. The trick is that EQ rarely updates right away, usually taking 5-7 days and sometimes longer to update.
This exasperating problem of wondering if everyone has updated is why so many of us use TrueCredit and similar services that allow us to update reports daily, if we want. It keeps the neurotic streak happy.
@haulingthescoreup wrote:
There's a good chance that your balances aren't updated on the exact day of the month that you opened your account. Some do, some don't. EQ unfortunately does not display MM/DD/YYYY, only MM/YYYY. If your Discover is from Discover, as opposed to being issued by HSBC or another company, it is reporting at the close of day on your statement date. So my Discover statement date is on the 2nd (I changed it for sanity's sake), and I have seen it show up on EX on my True Credit reports on the morning of the 3rd, with a report date of the second. I don't know personally when CapOne updates, but I'm reasonably sure it is on the statement date also. The trick is that EQ rarely updates right away, usually taking 5-7 days and sometimes longer to update.
This exasperating problem of wondering if everyone has updated is why so many of us use TrueCredit and similar services that allow us to update reports daily, if we want. It keeps the neurotic streak happy.
TONS of good info here - thanks!!
I will plan on checking my credit score here on 10/18, since for scoring purposes, that should be accurate.
Then if I don't see at least 6 months reporting for my two accounts, I was checking out the Equifax website and I'm thinking something like CreditWatch Gold would work to allow me to check for updates to the EQ credit report (if I am reading the info correctly).
I'm feeling a little impatient, but also nervous about the PenFed app so I don't want to take any chances if waiting a few more days would potentially improve my chances
Thanks!
If the only bureau you're concerned with is EQ (for PenFed), EQ Credit Watch Gold is fantastic, especially because it's the full report with soft inquiries.
If you want to check for updates on all three, you'll do better with TrueCredit and the others. They won't display the soft inquiries, but you'll know who knows what and when. (These will give you FAKO scores, as will EQ's 3-in-1 deal. But EQ will sell you your FICO EQ. Isn't this fun?
)
If you want to check for updates on all three, you'll do better with TrueCredit and the others. They won't display the soft inquiries, but you'll know who knows what and when. (These will give you FAKO scores, as will EQ's 3-in-1 deal. But EQ will sell you your FICO EQ. Isn't this fun?
)
haulingthescoreup wrote:
If the only bureau you're concerned with is EQ (for PenFed), EQ Credit Watch Gold is fantastic, especially because it's the full report with soft inquiries.
If you want to check for updates on all three, you'll do better with TrueCredit and the others. They won't display the soft inquiries, but you'll know who knows what and when.
Ohh good to know! I had assumed (obviously incorrectly!) that TrueCredit only monitors TU since it's a TU product - very good to know to it does all 3!
haulingthescoreup wrote:
(These will give you FAKO scores, as will EQ's 3-in-1 deal. But EQ will sell you your FICO EQ. Isn't this fun?
Haha, yes. I've read the info in the FAQ about FICO vs FAKO scores, but I'm a little confused... if a product mentions "FICO score" by name, could it still be a FAKO score? I could see if they called it "credit score" and people assumed it was FICO when really it wasn't, but doesn't Fair Isaac have some copyrights to the official name "FICO score"??