NFCU reporting

[medicgrrl]

Anyone know when NFCU starts reporting new auto loans?

[Anonymous]

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@medicgrrl wrote:
Anyone know when NFCU starts reporting new auto loans?

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Pretty much immediately - mine appeared in about a week

[medicgrrl]

Hmmm mines been about a month and still not reporting

[Anonymous]

I think auto loans vary a lot.  Once the loan is approved it really doesn't totally become official until the lien is placed etc so that combined with the reporting schedule of the lender can lead to variance from a couple of weeks to 45 days or so.  Our recent Penfed loan took about 40 days, I don't recall how long it took for our NFCU loan to report.  I wouldn't worry about it a whole lot.  It will report.

[Anonymous]

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@medicgrrl wrote:
Hmmm mines been about a month and still not reporting

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I remembered something relevant about NFCU - they report EVERYTHING at the end of the month, regardless of statement or effective dates.  So you should expect your loan opened in April to report at the end of April, just like my loan opened in March reported at the end of March.

[medicgrrl]

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@Anonymous wrote:

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@medicgrrl wrote:
Hmmm mines been about a month and still not reporting

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I remembered something relevant about NFCU - they report EVERYTHING at the end of the month, regardless of statement or effective dates.  So you should expect your loan opened in April to report at the end of April, just like my loan opened in March reported at the end of March.

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Thanks for the info!  Do they report the last statement balance on the accounts (I have a CLOC also) or do they report the current balance?

[Anonymous]

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@medicgrrl wrote:

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@Anonymous wrote:

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@medicgrrl wrote:
Hmmm mines been about a month and still not reporting

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I remembered something relevant about NFCU - they report EVERYTHING at the end of the month, regardless of statement or effective dates.  So you should expect your loan opened in April to report at the end of April, just like my loan opened in March reported at the end of March.

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Thanks for the info!  Do they report the last statement balance on the accounts (I have a CLOC also) or do they report the current balance?

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Current balance at end of month - mine had no statements when it reported, and it reported higher than the original loan balance (due to accrued interest and my not having made a payment yet)