topic Re: Bank not reporting line of credit to agencies? in General Credit Topics

Bank not reporting line of credit to agencies?

Anonymous — Fri, 16 Jan 2015 03:01:47 GMT

I am a recent immigrant to the US from Canada and I have been working on establishing a credit history. I got three credit cards opened up and I was pretty happy when I got a line of credit opened. I figure if I use those responsibly for a year or so I'll look pretty good to lenders when I start thinking about a mortgage.

Well I see the three credit cards on my report, which is great, but the line of credit is just not there. It has been open now for four months and I would have expected to see it in the reports. I was hoping that would give me a bit of a boost but apparently not.

Is it common for a line of credit not to reported? I have a credit card from the same bank that they ARE reporting, so I don't understand why it's not there.

Re: Bank not reporting line of credit to agencies?

Imperfectfuture — Fri, 16 Jan 2015 08:20:49 GMT

I believe it only starts reporting once you use it. Though I don't have an LOC, I link my savings as back up.

Re: Bank not reporting line of credit to agencies?

Anonymous — Sat, 17 Jan 2015 12:11:46 GMT

My LOC only reports to one CRA and started reported as soon as it was established. My advice is to call the bank and ask when do they report and to which CRA(s). I assumed mine would report to all three and was surprised when it didn't.