Wednesday, October 21, 2009

How long does it take for a new credit account to showup on my credit report?

I was wondering when a credit card, line of credit, personal loan, auto loan, mortgage loan, etc., show up on a credit report. Does it show up instantly, a few days, at the beginning of the next month?




How long does it take for a new credit account to showup on my credit report?
30-60 days. Check with all three credit checking companies, Transunion, Equifax (?), and one other one I can't remember.





Also, a good resource is this one...





http://credit-report-score.10001mb.com





Best regards.



Reply:A credit card won't show up until the monthly reporting date--which is not necessarily the same as the date the statement cuts. It's usually the end of the month, but you'll be able to tell once you get your first statement. The statement will say billing period from X to Y. Y is the reporting date. If you happen to get your new card in the middle of a billing cycle, it could take weeks.





I think loans report the same way--at least, my student loans do.
Reply:It all depends on when the creditor updates to the credit bureau. Not every creditor reports to all three credit bureaus. Some only update on a quarterly basis.





Typically any payoff or new account will show up within 30 ot 60 days.
Reply:Try getting an online auto loan quote. http://www.simpleautoquotes.com/Auto-Loa... The automated questionairre will let you know if you can be approved. It will only take a few minutes.


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