Question : How often does Household Bank report to credit bureaus?
I recently got a Household Bank credit card in order to help build up my credit score. I have only used the card for small purchases and have paid off the balances for 2 months (the amount of time I've had the card) but no payments have shown up on my credit report as of yet. I was under the impression that Household Bank reported to the credit bureaus every month. Does anyone know when the payments might show up?
- asked by Sandra
All Answers:
Answer #1
since the account is so new, it may take up to 3months for it to show up on your report. HouseholdBank is HSBC, and they, like many other banks,report monthly to the three credit reportingagencies. Give it some time and look again, itwill show up unless they have your informationwrong, such as your social or name. If you don'tsee it by the next billing cycle, I would callthem and ask.Marla, you obviously don't know whatyou are talking about. If that were the case, thenwhy do we emphasize so much on getting a goodcredit history? So, basically an 18 year old willhave perfect credit because theres no deragatoryinformation reported about them? I think you'velost it...Positive credit history plays a majorrole, and accounts are reported Monthly, and alltypes of activity is reported such as payments,balance, etc.
- answered by Mark
Answer #2
The report says you have the card and all the infoabout loan type and terms etc. and only when youdon't pay or a late payment do they report it. Thecredit report is not an accounting balance sheet.Every month the credit reporting agencies get baddebts for the information to build credit reports.Once you have a good report, they don't need tokeep reporting every time you write a checkalready.
- answered by Marla
Answer #3
based upon your situation,I think you should findsomething usefulhere.
http://creditreport.online-helper.info/free-online-credit-report-canada.html
- answered by JENNIFER T
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