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What info do credit card issuers send to the credit agencies?

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There are three major credit agencies, known as credit bureaus (Transunion, Experian & Equifax). These agency retains information about you sent to them by banks whom you at some have established credit with. This credit relationship between you and the bank could be as a simple low-limited credit card ($300 or less limit) or a mortgage lender from whom you have purchased your home.

Why Your Information Is Reported?

There are several reasons why your credit information is reported to these agencies. Here are some of those reasons:

  • To keep record of your credit activity
  • To track who your creditors are
  • To track inquiries (ie. lenders and banks) about your credit worthiness
  • To track how long you had credit
  • To help banks and lenders decide whether or not to approve you credit
  • To help banks and lenders decide credit limits and interests rates

Your Personal Information

The information about you that is reported by credit card companies to credit agencies include:

  • Your credit limit
  • Your account balance
  • Your payment history (when pay on time and how many late payments)

Of the three items listed above, your account balance is the most important reported to credit agencies because it shows how much debt you owe to that issuer. It also shows if you are paying that debt off based on the decrease balance owed over a period of time. This helps banks or lenders determine your credit worthiness.

In addition, some credit card issuers report to credit agencies on a monthly basis; normally every 30 days after the end of a billing cycle. Keep in mind, however, every company is different so you should read your credit card agreement and disclosure that came with your credit card or you call the credit card issuer and inquire about when they send their reports to credit agencies.

If you want to learn more about the three credit agencies, including their addresses and/or obtaining a free credit report visit:

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