BMW Financial Services credit reporting question

[Anonymous]

Any bimmer owners here? I opened a BMWFS loan back in January. It finally has showed up in all 3 bureau reports this month. The problem is is that only my 1st payment is reported when I've already made 3.

Anyone know how long it usually takes for BMWFS to catch up on their reporting? Do they usually report monthly after the initial slowness?

[FeeBear]

Hey B-Dolla,

         They are traditionally a few months behind. I wouldn't pay to much attention because as long as you pay ontime the account continues to build your credit. In my case they say I am current but they are still reporting Feb 2020.

Fee

[Anonymous]

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@Anonymous wrote:

Any bimmer owners here? I opened a BMWFS loan back in January. It finally has showed up in all 3 bureau reports this month. The problem is is that only my 1st payment is reported when I've already made 3.

Anyone know how long it usually takes for BMWFS to catch up on their reporting? Do they usually report monthly after the initial slowness?

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They always seem a few months behind. 

[Anonymous]

Thanks, @FeeBear & @Anonymous .

So do they still report monthly? Or do they report less frequently than that, causing them to be behind?

Just curious because my credit history is 6 months young and my TU score dropped more than 30 points when the BMWFS account appeared on my report. Could have been a combination of many things and all, but I'm hoping my BMWFS payments get reported to bring my score back up. 😔

[FeeBear]

Hey B,

         From what I seen/experienced they are not as diligent as credit card companies. Loans in general seem to report more in bunches. The credit bureau just continue to state you're current though you balance will most of the time be lagging.

fee

[Schwartzinator]

No longer a BMW owner, but my loan from BMWFS was always behind about 3 months. Same thing with my current WF auto loan and my partner's Chase auto loan.