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What exactly gets sent to the Credit Bureaus

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Anonymous
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Re: What exactly gets sent to the Credit Bureaus

Thank you! And sorry about the delay, engineering finals are ridiculous and suck.

 

Well I'm going to get a car soon after I graduate. Do you think the loan would be worth it for 2 or 3 years since I don't have any loans on my credit? It says it's best for 5 years and only for people with no loans at the moment.

 

Thank you so much for your advice! I've never even heard of that rule.

 

What do you personally look for in a credit card? I look for no yearly fees and rewards. But I was wondering what people like you look for?

 

Also, is it best to apply for both credit cars on the same day?

Message 11 of 14
Anonymous
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Re: What exactly gets sent to the Credit Bureaus

Given the update on your timeline (graduation, then car, etc.)....

 

*  I would get started on the Alliant SS loan now.  All the pieces of it will probably not be in place until May 20, which means Alliant won't report it until May 31 (Alliant reports all of its loans the evening of the last day of the month.)  Then it will take the bureaus a solid 10 days before the loan appears on your reports.  Be sure to pay the loan down immediately $44, given your tight timeframe.

 

*  I would also delay the car purchase until after you have true FICO scores.  Would that be possible do you think?

 

*  The best things for you to look for in credit cards are no annual fees and rewards you like, and secondarily a nice signup bonus if one is available (but only if you are certain you can meet the minimum spending requirement to qualify for the bonus).

Message 12 of 14
Anonymous
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Re: What exactly gets sent to the Credit Bureaus

I might have wrriten that wrong. I'm sorry. I'll be graduating in two years from now. So a new car in two years or so.

 

I will do the Alliant SS Loan. 

 

I've never even heard of a signup bonus!

 

One final question! When I do try to get another credit card, should I register for them both on the same day?

 

Message 13 of 14
Anonymous
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Re: What exactly gets sent to the Credit Bureaus


@Anonymous wrote:

One final question! When I do try to get another credit card, should I register for them both on the same day?

 


 

Very gentle tweak to your terminology.  The verb you are looking for is apply.  You apply for the cards, not register for them.  If you say register a lot of people here won't know what you mean.

 

If you have two cards that you really like on the same day, I see no big reason not to apply on the same day.  I don't see a gigantic advantage either.  Other people may be able to tell you more about the pros and cons.

 

Best of luck!

Message 14 of 14
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