Monthly updates to CB's

[Anonymous]

Is it true that creditor's MUST report/update items to the CB's EVERY month for the items to remain valid?

[Anonymous]

I'am not sure if they required to report "every month", but I do know creditors must report accurate information about your account. I know AMEX reported my balance once every 2 months (charge account though).

[Junejer]

No, some report periodically, other than monthly. Creditors must subscribe to the CRAs (read must pay) to report information on you. So, some do so at other intervals than monthly. As Chopbrocolli said, it must be accurate, no matter how often they report.

[Cleanmachine]

There are no Federal Rules or Regulations requiring Creditors to report to the Credit Bureaus.

They have an option to report to all three bureaus or just to one, or none.

As stated earlier, what they report must be accurate. If not, you have the right to dispute the information.