topic Re: Self Lender slow to update with credit bureaus in General Credit Topics

Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 03:43:25 GMT

As the title states, I haven't seen my credit profile be updated monthly as expected. Experian was last updated in December and I've made three payments since then. EQ and TU were last updated in January. Kinda frustrating, as it affects my score and I'm trying to buy a house, so any little bit helps right now. Anyone experienced this with Self?

Re: Self Lender slow to update with credit bureaus

rbentley — Wed, 10 Mar 2021 03:56:16 GMT

I had that experience constantly with Self. They were inconsistent in reporting to all three bureaus, and even on occasion skipped a month or two. I had to write their CEO on several occasions to get the reporting sorted out. While I don't regret using them when I did, I don't know that I can really recommend them. The SSL from NFCU is far superior.

Re: Self Lender slow to update with credit bureaus

mycreditscoreisfair — Wed, 10 Mar 2021 04:01:21 GMT

Mine was last updated on Experian in December as well. I don't actively monitor the the other credit bureaus though, so no idea when they updated. The only reason I got the Self lender loan was to improve the payment percentage. So, I don't think that will be affected even if they report infrequently. Even if it updates in April, it should show on-time payments for January, February and March then. But you'd expect better reporting on a credit product most people only use for the reporting.

Re: Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 04:37:19 GMT

@rbentley wrote:
I had that experience constantly with Self. They were inconsistent in reporting to all three bureaus, and even on occasion skipped a month or two. I had to write their CEO on several occasions to get the reporting sorted out. While I don't regret using them when I did, I don't know that I can really recommend them. The SSL from NFCU is far superior.

Good to hear that so I don't get overexcited again and snag Self because it's easy to get when what I want is to add the SSL from NFCU next. Even though it's small and completely self-funded in its being secured, I'm giving it a few weeks before my next HP having 😢😜 overdone it in the past few weeks. I'm trying to wait for my two new Secured Cards totaling $2K to be reported and then reflected in my CS. Then apply fir the SSL w NFCU. 🤩🤩🤩

Re: Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 06:03:55 GMT

@Anonymous they usually update at the end of the month and the bureaus will process updates at the beginning of the following month. And they do two updates. They update that you made a payment and then update the balance/"green check mark" later. So I guess it depends on where you are looking? The payment history table? I would worry the least about that and look at the meat of the account info instead.

It never failed for me or my SO to update twice a month. He finished his Self Lender in Feb (last month) and it updated with zero issue, every month. I finished my Self Lender last August. It was also nice with the slight delay because that last month you can enjoy the under 10% util longer and it won't just close and drop off straight away...dropping your scores down for having a closed installment loan and no more low util on installment loan... so consider it a gift later on. It depends on your due date, but mine was the 2nd and his was the 5th of the month. When is your due date?

Re: Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 13:38:36 GMT

My payment is the 2nd of every month. I've been looking at my reports and though I'm 9 months in, Experian last reported my December payment. If I'd paid better attention, I would've done the ssl with navy. Being so close to getting a house, though, that won't be necessary once I'm done w self. I'd just like it update so my score could see a bump leading up to closing on a house.

Re: Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 14:42:00 GMT

Hi there!

We compile your credit data at the end of every month, and report it to all three credit bureaus at the start of the following month. It is up to the individual credit bureaus when they will post the data, but it will typically appear in the second half of the month. For example, your February credit data will likely appear on your credit report in the second half of this month! We also recommend using a combination of personal finance tools to maintain an updated picture of your overall credit health.

If you have any questions or concerns about your account, feel free to reach out to us directly at help@self.inc. We'd be happy to take a look into the situation for you to ensure accuracy!

Re: Self Lender slow to update with credit bureaus

KangiCosmos — Wed, 10 Mar 2021 17:07:23 GMT

I also just sent them an email with the same problem. Especially experian not reporting since Dec. I need it to report. My Discover It Sec should be coming up for review after this months statement.

Here was their reply on Mar 8 2021

"Hello,

Thank you for reaching out. I'm sorry to hear that your account has not been reporting. Can you tell us the last month you see the account reporting if at all? What sources are you using to check your credit reports? Additionally, have you disputed anything on your credit recently or placed any file freezes?

Best,"

I answer, no disputes-no freezes and sources as MyFico 3B reports, Experian.com website and Credit Wise.

No reply back yet.

Re: Self Lender slow to update with credit bureaus

KangiCosmos — Wed, 10 Mar 2021 17:13:44 GMT

@Anonymous wrote:
Hi there!

We compile your credit data at the end of every month, and report it to all three credit bureaus at the start of the following month. It is up to the individual credit bureaus when they will post the data, but it will typically appear in the second half of the month. For example, your February credit data will likely appear on your credit report in the second half of this month! We also recommend using a combination of personal finance tools to maintain an updated picture of your overall credit health.

If you have any questions or concerns about your account, feel free to reach out to us directly at help@self.inc. We'd be happy to take a look into the situation for you to ensure accuracy!

I also have the same descrepency for the EXACT same months. I already sent an email and here was the reply from self.

Re: Self Lender slow to update with credit bureaus

Anonymous — Wed, 10 Mar 2021 19:44:31 GMT

@Anonymous wrote:
My payment is the 2nd of every month. I've been looking at my reports and though I'm 9 months in, Experian last reported my December payment. If I'd paid better attention, I would've done the ssl with navy. Being so close to getting a house, though, that won't be necessary once I'm done w self. I'd just like it update so my score could see a bump leading up to closing on a house.

I mean, you will not get a score bump until the final month, really, since that is when the account is under 10% util, *if* this is your only installment loan.

You may get a small score bump if you go under 60% util.

Are you crossing one of those thresholds? Being 9 months in, I do nit think you are crossing either of those thresholds.

You may have made 3 payments since December, but there is no way March will report before next month. Feb, may not even report until the end of this month, abd you are really certain Jan has not reported?

Again, are you looking just at the calander payment history section or the meat of the account details? The "check marks" are not the important part, you need to look at the actual account info above it.

Re: Self Lender slow to update with credit bureaus

KangiCosmos — Fri, 12 Mar 2021 23:24:18 GMT

@Anonymous wrote:
@Anonymous wrote:
My payment is the 2nd of every month. I've been looking at my reports and though I'm 9 months in, Experian last reported my December payment. If I'd paid better attention, I would've done the ssl with navy. Being so close to getting a house, though, that won't be necessary once I'm done w self. I'd just like it update so my score could see a bump leading up to closing on a house.
I mean, you will not get a score bump until the final month, really, since that is when the account is under 10% util, *if* this is your only installment loan.

You may get a small score bump if you go under 60% util.

Are you crossing one of those thresholds? Being 9 months in, I do nit think you are crossing either of those thresholds.

You may have made 3 payments since December, but there is no way March will report before next month. Feb, may not even report until the end of this month, abd you are really certain Jan has not reported?

Again, are you looking just at the calander payment history section or the meat of the account details? The "check marks" are not the important part, you need to look at the actual account info above it.

I don't know about if @Anonymous has reached those thresholds. But I have. And just like the original poster mine has not updated with the exact same months TU, EQ since Jan 10th (on CR) and EX since Dec. I only owe one more payment. My balance is $37 out of $527.

But I do see what your saying about the account info. My Feb statement was posted on the 20th in my Self Lender account. It does show account balace of $83.95 of $539.38 which would be 15.56% left to pay. Next payment due Mar 7 which i paid to bring my balance to $37.

Here is screenshot of last report from myFICO 3B report.

Looks like next statement date wont cut till the 20th of March which will bring my balance below 7%. But as you can see last report Jan for EQ and TU. Dec for EX.

Re: Self Lender slow to update with credit bureaus

Anonymous — Fri, 12 Mar 2021 22:04:19 GMT

Update post: I contacted Self via their chat feature. This is what they wrote to me:

"We apologize for the inconvenience, we have confirmed there was an upload issue with January's date for Experian. Our partner banks are working hard to resolve it. We do not yet have a firm date by which this will be fixed."

They followed up with this after I wrote back: "I would advise emailing our compliance department in the future as well at disputes@self.inc with any issues regarding missing reports. I would advise as well to include images of your credit report for investigation".

HOW FRUSTRATING!

Re: Self Lender slow to update with credit bureaus

Anonymous — Fri, 12 Mar 2021 22:06:18 GMT

Sir, thank you for responding to my post. I'm not happy that there's been an issue for months and I only find out about it when I contact Self via the chat. Anytime it reports to my reports, my score has gone up. Missing 2-3 months of data isn't helping me much right now.

Re: Self Lender slow to update with credit bureaus

Anonymous — Fri, 12 Mar 2021 22:14:49 GMT

Hi there. I'm at 25% utilization now. I've since made three additional payments and only have three to go. My stinking middle mortgage score is a 678 right now, two points from a slightly better interest rate for the home we're under contract right now. ANNNYYYYYY little bump would be huge for me and this loan is one reason Experian says my score is what it is.

Edit: I've checked my reports. TU and EQ last reported in January. Experian in December. It has been like clockwork since I signed up until these past few months. Just frustrated!

Re: Self Lender slow to update with credit bureaus

Anonymous — Fri, 19 Nov 2021 23:40:26 GMT

@Anonymous I have had a self lender account over a year and I love it but ..my husband was assault last year where his neck was broken by a Excop I was late only twice once when was still in the icu and once when I had COVID please be gracious and help get these late payments remove so we can purchase a home with a ramp so he can come home this is hindering me on all 3 Bearues to get anything I've called countless times and know one would help me

Re: Self Lender slow to update with credit bureaus

ebennett863188 — Wed, 06 Apr 2022 13:24:48 GMT

I'm actually having the same issue, TransUnion is updated but Equifax is 2 months behind and Experian has not been reported since January which is concerning.. I'm trying to raise my credit for a home, a car and other things so it's very frustrating as I've had self for a year! My last payment is this month and I was going to open another one but I'm very hesitant with my Experian not reporting since January and my Equifax being behind which it never usually is! I need the reporting especially since this is my last self payment. I have the self credit card and my limit just went up again to $450. I only did the $48 a month $535 self loan but it has been really helpful as with that and disputing fraudulent stuff off my credit report my score went from 533 on my TransUnion to now 704 and TransUnion still refuses to remove two fraudulent hard inquiries the other bureau's have removed. I don't understand why it would take 3-4 months to report to Experian when I've had self for a year! It's beginning to get very frustrating and it's stopping me from being able to do certain things because my credit score has not moved up. Please help!