topic Re: discover new account reporting in Credit Cards

discover new account reporting

tennisfan78 — Mon, 31 Dec 2012 17:47:35 GMT

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

Re: discover new account reporting

Anonymous — Mon, 31 Dec 2012 18:01:26 GMT

It usually reports after you make your first payment.

Re: discover new account reporting

Anonymous — Mon, 31 Dec 2012 18:02:36 GMT

I think your score may go down initially but boost above the orig score within 3 months.

Re: discover new account reporting

kevinjjc — Mon, 31 Dec 2012 18:06:07 GMT

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

Re: discover new account reporting

knoregs — Mon, 31 Dec 2012 18:28:31 GMT

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

Re: discover new account reporting

tennisfan78 — Mon, 31 Dec 2012 20:15:07 GMT

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

Re: discover new account reporting

kevinjjc — Mon, 31 Dec 2012 20:28:52 GMT

@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.

Re: discover new account reporting

Anonymous — Mon, 31 Dec 2012 20:30:17 GMT

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

Re: discover new account reporting

Anonymous — Mon, 31 Dec 2012 20:48:39 GMT

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.

Re: discover new account reporting

tennisfan78 — Mon, 31 Dec 2012 20:49:14 GMT

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

Re: discover new account reporting

HiLine — Thu, 03 Jan 2013 22:53:13 GMT

My account was reported soon after the first statement closing date.

Re: discover new account reporting

tennisfan78 — Sun, 03 Feb 2013 00:09:40 GMT

Update: Its been almost 2 months and discover hasnt started reporting my new account to the CR agencies yet. Wow, they sure take their time.

Re: discover new account reporting

CreditWorld2013 — Sun, 03 Feb 2013 00:26:26 GMT

It took Discover at least 3 (maybe 4) Months for them to start reporting for me. I even contacted them to do a manual push and it still took a while. The only good thing was that they reported the previous months when they didn't report. They also take a while to update after a CLI.

Edited: Autocorrect can be a good and bad thing

Re: discover new account reporting

tennisfan78 — Sun, 03 Feb 2013 00:16:09 GMT

@CreditWorld2013 wrote:
It took Discover at least 3 (maybe 4) Months for them to start reporting for me. I even contacted them to do a manual push and it still took a while. The only good thing was that they reported the previous months and that they didn't report. They also take a while to update after a CLI.

wow, I am definitely surprised!

Re: discover new account reporting

tennisfan78 — Sun, 03 Feb 2013 00:28:37 GMT

I did use the online feature with discover rep, and he said it may take about 3 months for them to start reporting. Wow

Re: discover new account reporting

jayrock24 — Mon, 04 Feb 2013 19:37:17 GMT

this works in your favor so that instead of having it report 1 month of new history it reports 2 3 maybe 4 months of history and also gives you time to have a 0 balance so when they do report instead of a lil 10 or 15 point increase you will see a 25 maybe 40 % increase i say this because macys and barclays as well as discover did this to me but the out come for a begining 3 to 4 month history is far better than 1 month think about average age of accounts as long as they dont report it yet your average age doesnt change so to get 3 or 4 months is a push for you hope this helps you guys

Re: discover new account reporting

mnavas — Mon, 04 Feb 2013 20:04:53 GMT

My discover It was reported to the CRA's 5 days after i opened the account and my billing period was only 16 days... (I applied on the phone btw)

Who knows what the Discover's reporting policies are...

On the bright side you should take advantage and apply for another credit card before they start reporting so you'll have better chances of getting approved

Re: discover new account reporting

PokemonMaster — Mon, 04 Feb 2013 20:05:17 GMT

@tennisfan78 wrote:
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

I believe mine started reporting after my 3rd statement cut. So 4 months after I got the card it eventually reported. Discover loves to take it's time but it will eventually report.

Re: discover new account reporting

Anonymous — Mon, 04 Feb 2013 20:41:35 GMT

Usually 4-6 weeks after 1st statement cuts

Re: discover new account reporting

tennisfan78 — Wed, 06 Feb 2013 05:27:38 GMT

@kevinjjc wrote:
@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.

Update: Discover finally started reporing after 2nd statement.

Excellent prediction Kevinjjc !!!