Ah I'm sorry I misread your comment. I see you stated when they review my account for graduation they will require the IRS paperwork. That's good to know. Thank you for the heads up.
@MarkyB wrote:Ah I'm sorry I misread your comment. I see you stated when they review my account for graduation they will require the IRS paperwork. That's good to know. Thank you for the heads up.
Well, the request to review your income can come at any time, not necessarily at graduation.
Also keep in mind that building credit is a marathon, not a race. I understand you're eager to "prove" yourself, but rushing to add accounts isn't always the best way. There are some posters on here who only had one, maybe two cards and were able to grow their credit just fine. As long as you pay on time, and keep utilization low, time will take care of the rest.
Thanks for the insight, from what I read here I was understanding it normally took place when they did CL decisions. I personally haven't worked for the past few years due to medical issues but thank god I am on a good track forward in my recovery after surgery. The reason I say this is I wouldn't be able to prove my income prior to February 18th when I started back to work. This is why I didn't bother with credit for years as I had no income to support it. So when I came across a post talking about how Disco shut down cards permanently for people that didn't agree to allow for the irs form or it came back substantially lower than stated. I became a bit worried but then I also read were they would allow paystubs and bank statements for a situation like mine and was relieved. I put down 35k/year and since 2/18/2022 (as of last week) my YTD was $6290 so I definitely lowballed the number. When not if it comes I will just send them what I have and hope for the best I guess. Any thoughts??
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@RobynJ wrote:Thanks for the insight, from what I read here I was understanding it normally took place when they did CL decisions. I personally haven't worked for the past few years due to medical issues but thank god I am on a good track forward in my recovery after surgery. The reason I say this is I wouldn't be able to prove my income prior to February 18th when I started back to work. This is why I didn't bother with credit for years as I had no income to support it. So when I came across a post talking about how Disco shut down cards permanently for people that didn't agree to allow for the irs form or it came back substantially lower than stated. I became a bit worried but then I also read were they would allow paystubs and bank statements for a situation like mine and was relieved. I put down 35k/year and since 2/18/2022 (as of last week) my YTD was $6290 so I definitely lowballed the number. When not if it comes I will just send them what I have and hope for the best I guess. Any thoughts??
I suppose that's the best you *can* do. As far as them accepting paystubs/bank statements, I could be wrong, but I believe that was only temporary during the covid shutdown era in 2020 and part of 2021 because the IRS/EQ were having staffing issues.
I just checked my credit reports. I'm taking advantage of the free weekly reports until April 20th. My equifax and transunion reports already have my self credit builder account listed. Experian still doesn't show anything. I'm surprised self reported my account already. I've heard people say they had to wait 3 months to see it on their reports. Should I be concerned about experian not having it listed yet while the other 2 do?
I find it interesting how equifax doesn't have my collection account listed but the other 2 bureaus do. That means my equifax score will be much higher once it's generated since I'll only have positive accounts listed there.
When do cards report your account? My discover card statement close date is on April 9th and the due date will be on May 4th. When can I expect them to report it, at the statement cycle end date or the due date?
I have certain collections that span all 3 bureaus and then some that are only one one and that ends up being TU or EQ. They still exist just because they aren't on all 3 so don't let it fool you.
And yeah, some seem to be reporting a lot faster than expected. My Aspire card already reported and I had read of people waiting 3 to 4 months for it to report. I haven't even had the card 30 days yet.
@MarkyB wrote:I just checked my credit reports. I'm taking advantage of the free weekly reports until April 20th. My equifax and transunion reports already have my self credit builder account listed. Experian still doesn't show anything. I'm surprised self reported my account already. I've heard people say they had to wait 3 months to see it on their reports. Should I be concerned about experian not having it listed yet while the other 2 do?
I find it interesting how equifax doesn't have my collection account listed but the other 2 bureaus do. That means my equifax score will be much higher once it's generated since I'll only have positive accounts listed there.
When do cards report your account? My discover card statement close date is on April 9th and the due date will be on May 4th. When can I expect them to report it, at the statement cycle end date or the due date?
No you shouldn't worry if it isn't on EX yet. Give it up to 3 months. If they still don't, then contact Self.
Sometimes that's just the way it is - creditors/CAs don't always report to all 3 bureaus. They don't have to.
Cards usually report your statement balance at the end of the billing cycle to the bureaus, with a few exceptions. Those exceptions are US Bank, which reports your balance at the end of the month, regardless of your balance at the close of your billing cycle. And then Chase bank will report your statement balance, but they also report a zero balance if you pay down your balance to zero at any time.
So I just checked my credit karma after it alerted me of the self builder account being added on my equifax and now I have a vantagescore for my equifax. I had no previous score. I'm sure it'll jump even higher once my credit cards are added as well. My EQ score will be a good gauge to see what my true score will be once the collections fall off of my EX and TU reports next year. I'm more interested in watching the fico scores though but seeing the vantagescore jump like this is nice for motivational purposes lol.
@MarkyB wrote:So I just checked my credit karma after it alerted me of the self builder account being added on my equifax and now I have a vantagescore for my equifax. I had no previous score. I'm sure it'll jump even higher once my credit cards are added as well. My EQ score will be a good gauge to see what my true score will be once the collections fall off of my EX and TU reports next year. I'm more interested in watching the fico scores though but seeing the vantagescore jump like this is nice for motivational purposes lol.
I wouldn't use VS as a "gauge," as Vantagescores can vary wildly from your FICO 8s. They're also much more volatile.
The fico is what I'll be gauging, not the vantagescore. I simply shared the vantagescore to show that my credit is finally starting to shape up. I'll be paying $40 a month once I have a fico score to monitor all 3 monthly. That's where I'll guage the EQ.