Comments on: How often does lenders report to the credit bureau? http://lendingproguide.com/how-often-does-lenders-report-to-the-credit-bureau/ Free Consumer Lending Resource Fri, 18 May 2012 11:35:38 +0000 http://wordpress.org/?v=2.7 hourly 1 By: OC1999 http://lendingproguide.com/how-often-does-lenders-report-to-the-credit-bureau/comment-page-1/#comment-467 OC1999 Fri, 24 Apr 2009 19:58:30 +0000 http://lendingproguide.com/how-often-does-lenders-report-to-the-credit-bureau/385/#comment-467 It actually depends on the lender. Most will report at least once a month, but it could take a couple of months for a new loan to get through their internal system for them to report it for the first time. Once it does report, your score will probably go down a bit. Because you had a inquiry for the loan, as well as it being a new account. However, any drop should be minimal. If you pay the loan as agreed and on-time, your score will bounce back pretty quickly. Within a few months you should notice an increase. But how much it does will depend on the rest of your history. It actually depends on the lender. Most will report at least once a month, but it could take a couple of months for a new loan to get through their internal system for them to report it for the first time.

Once it does report, your score will probably go down a bit. Because you had a inquiry for the loan, as well as it being a new account. However, any drop should be minimal. If you pay the loan as agreed and on-time, your score will bounce back pretty quickly. Within a few months you should notice an increase. But how much it does will depend on the rest of your history.

]]> By: kngrnr http://lendingproguide.com/how-often-does-lenders-report-to-the-credit-bureau/comment-page-1/#comment-466 kngrnr Tue, 21 Apr 2009 23:53:34 +0000 http://lendingproguide.com/how-often-does-lenders-report-to-the-credit-bureau/385/#comment-466 as a rule there are no rules as to when they submit to the credit bureaus. lenders report whenever they want to. but typically there are 5 times a lender will report. > the beginning of each month > 30 days after you are late. > 35 days after you are late. > when you open a new account. > when there are any changes to your account. as a rule there are no rules as to when they submit to the credit bureaus. lenders report whenever they want to.

but typically there are 5 times a lender will report.

> the beginning of each month
> 30 days after you are late.
> 35 days after you are late.
> when you open a new account.
> when there are any changes to your account.

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