topic Re: time it takes for card to get on credit report in General Credit Topics

time it takes for card to get on credit report

Anonymous — Sun, 04 Dec 2016 13:29:13 GMT

ok all my simulations say if i get 2000.00 credit card my score will come up 30ish points,had 2 authorized cards for couple months got a unsecured capital one couple weeks ago,how long before it shows up.is their any tricks to get it to report quicker

Re: time it takes for card to get on credit report

Anonymous — Sun, 04 Dec 2016 14:01:24 GMT

Depends on the card. From my own experience, capital one usually smacks my credit report when the statement ends. That's what happened with my venture at least.

Re: time it takes for card to get on credit report

Anonymous — Sun, 04 Dec 2016 14:19:38 GMT

Simulators are garbage and worthless to be honest. In fact, your scores may very well drop, not increase with the addition of a new account on your reports. The drop will only last a couple of months though, typically.

Re: time it takes for card to get on credit report

fltireguy — Sun, 04 Dec 2016 15:42:32 GMT

@Anonymous wrote:
Simulators are garbage and worthless to be honest. In fact, your scores may very well drop, not increase with the addition of a new account on your reports. The drop will only last a couple of months though, typically.

Some cards, Like Sync cards, will show up the day after the account is opened! Others, like Amex might take 30-50 days to report..

I agree with BrutalBodyShots. Simulators are garbage

Re: time it takes for card to get on credit report

heyryan — Sun, 04 Dec 2016 17:23:26 GMT

Seems to depend on the creditor. Barclay's was reporting the day after they approved it, NFCU and WF took a month or so... YMMV

Re: time it takes for card to get on credit report

cuthatcard — Sun, 04 Dec 2016 17:23:35 GMT

I've had the CHASE Freedom for about 3 weeks now, still isn't on my reports .

Don't know how long it takes CHASE to begin reporting !

Re: time it takes for card to get on credit report

RobertEG — Sun, 04 Dec 2016 17:35:06 GMT

One department processes the account approval.

Another does the actual opening of the new account.

Another then does the credit reporting. Since credit reporting is entirely optional, there is no set or required reporting period.

Reporting time could vary from instantaneous to never.

Re: time it takes for card to get on credit report

Anonymous — Mon, 05 Dec 2016 01:43:30 GMT

Amex is known for taking 2 cycles often to show up on your credit report. Others are quicker. I opened an Amex, Discover and Synchrony account all on the same day. The Synchrony account was on there in a couple of weeks, Discover in about a month, Amex in about 2 months.

Re: time it takes for card to get on credit report

Anonymous — Mon, 05 Dec 2016 08:44:18 GMT

Why are you in a hurry to have it show up? As soon as it shows up you're going to get hit with new account penalties -- inquiries, lowered AAoA, maybe other effects.

The longer it takes the better for your score. After awhile the penalties wear off and you are left with the increased utilization. So... the longer it takes to report, the better for you: fewer months of newer account penalty before getting the goodness of the new card.

I never understand people who wish it to report sooner.

Re: time it takes for card to get on credit report

Marcos8 — Mon, 05 Dec 2016 13:15:52 GMT

@Anonymous wrote:

Why are you in a hurry to have it show up? As soon as it shows up you're going to get hit with new account penalties -- inquiries, lowered AAoA, maybe other effects.

The longer it takes the better for your score. After awhile the penalties wear off and you are left with the increased utilization. So... the longer it takes to report, the better for you: fewer months of newer account penalty before getting the goodness of the new card.

I never understand people who wish it to report sooner.

In this particular instance they wanted it to report as soon as possible based on the recommendation from a simulator that it would raise their score.

Re: time it takes for card to get on credit report

Anonymous — Mon, 05 Dec 2016 13:24:56 GMT

@Anonymous wrote:

I never understand people who wish it to report sooner.

I'm obviously not the OP so can't speak for him, but one benefit of having an account report sooner rather than later for a Transactor would be lowered aggregate utilization. For a Revolver, however, this would be irrelevant.

Re: time it takes for card to get on credit report

cuthatcard — Mon, 05 Dec 2016 14:56:52 GMT

@Anonymous wrote:

Why are you in a hurry to have it show up? As soon as it shows up you're going to get hit with new account penalties -- inquiries, lowered AAoA, maybe other effects.

The longer it takes the better for your score. After awhile the penalties wear off and you are left with the increased utilization. So... the longer it takes to report, the better for you: fewer months of newer account penalty before getting the goodness of the new card.

I never understand people who wish it to report sooner.

I, for one, am not in a "hurry" for my new card to report !

I have the inquiries already showing, understand that the AAoA will drop and have no desire to see that !

Sorry if my post lead anyone to believe I was anxious to see it appear..