A:

Normal information, such as a paid or unpaid notation, usually hits a credit report within 30 days of the close of the billing cycle for that account. According to Experian, creditors usually report credit information to the bureau once a month. If a payment is recorded close to the time the creditor reports, then that payment shows up quickly. If a payment is recorded directly after the creditor reports, that payment shows up nearly a month later. Inquiries for a credit report are reported right away, so if you go on an application spree, the 12th lender sees all previous 11 inquiries.

There are no laws mandating creditors to report credit information, so some good or neutral information is never reported. Creditors, such as cellular service providers and landlords, rarely report positive information at all, choosing only to report negative information. However, there are a few rules regarding the reporting of negative information. For example, a late payment cannot be reported on a credit report unless it is at least 31 days late. After that time, it usually shows up on the credit report within the usual 30 days.

Creditors usually do not charge off a debt and turn it over to a collection agency until 180 continuous days of non-payment have passed, so you may have at least six months before a collection or charge off shows up on your credit report. However, each month the creditor can mark the debt as late, from 30 days to 60 days to 90 days to 180 days, further hurting your credit score.

RELATED FAQS
  1. What do creditors have to report to credit bureaus?

    Protect your credit score by understanding how creditors report information about your debts and payments, which can affect ... Read Answer >>
  2. How often is my credit score updated?

    Discover how often credit bureaus update credit scores, change credit information and receive updates from lending agencies ... Read Answer >>
  3. What's the difference between credit score and credit history?

    Check out the differences between credit score and credit history, and learn how your credit history is used to create your ... Read Answer >>
  4. What information do lenders need when I apply for a credit limit increase?

    Increase your credit limit by making sure your current credit is paid on time and by paying the largest amount you can afford ... Read Answer >>
Related Articles
  1. Personal Finance

    What's On A Consumer Credit Report?

    A look at the various components and considerations that go into one's credit report and credit score.
  2. Personal Finance

    Which Is More Important: Credit Report or Credit Score?

    Here's the difference between a credit report and credit score, and which is more important.
  3. Personal Finance

    Fixing Your Credit Score: A Do It Yourself Guide

    Following these five steps can go a long way toward repairing a low score.
  4. Personal Finance

    Credit Repair: How to Improve Your Credit Score

    There is no quick fix for a bad credit score, but there are several strategies you can take to improve your credit rating and save money over the long term.
  5. Personal Finance

    6 Ways To Build Credit Without A Credit Card

    It's definitely possible – if a bit more complicated – to build a credit history without traditional credit cards. Just follow these steps.
  6. Small Business

    How To Increase Your Appeal To Prospective Lenders

    Making a business eligible for loans/credit cards at the best possible rates requires crafting an excellent credit profile through the smart use of credit.
  7. Personal Finance

    Monitoring Your Credit? Keep These 5 Things in Mind

    Your credit history is a key financial diary of your life. Here are five things to consider when making sure your credit is healthy.
  8. Personal Finance

    Why You Should Improve Your Credit and How to Do It

    With credit playing a big role in many financial decisions, it is important to maintain good credit.
  9. Personal Finance

    Take the Right Steps to Build Excellent Credit

    There are several things you can do to protect and improve your credit score.
  10. Personal Finance

    New Rules That Could Trash (or Help) Your Credit

    Cable bills and similar financial obligations will soon be factored into your credit score. Good news if you're an on-time payer. If not, become one!
RELATED TERMS
  1. Credit Report

    A detailed report of an individual's credit history prepared ...
  2. Trade Line

    Credit account records that are provided to credit reporting ...
  3. Credit Agency

    A for-profit company that collects information about individuals' ...
  4. Credit Bureau

    An agency that collects individual credit card information and ...
  5. Creditor

    A creditor is an entity that extends credit by giving another ...
  6. Negative Information

    Data in a consumer’s credit report that lowers his or her credit ...
Trading Center