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Do cosignners on auto loans get reported to credit bureaus when loan is first approved?
Unfortunately, this question does not have a simple answer. When a cosigner applies for a car loan, it is reported to the credit bureau as a credit inquiry, whether the car is purchased or not.
If the deal is approved, it is still not reported until the paperwork has been completed and submitted back to the lender. Usually, when someone buys a car they are submitted to 3-4 credit agencies in an effort to find the best fit for that customer.
Obviously, only one lender is going to get the contract, so nothing else will show on your credit report until the paperwork has been completed and submitted. Usually it takes a few weeks for the loan to show up on your credit bureau.
Does that help?
--Connie, ConsolidatedCredit.org
What else can I help you with?
What is the lowest amount that can be reported to credit bureaus?
$0. Credit bureaus do not have a minimum amount reporting requirements.
Do credit card companies report cash payments to credit bureaus?
No, credit card companies do not typically report cash payments to credit bureaus. Only credit card transactions and payment history are typically reported to credit bureaus.
Can a judgment be reported to more that one credit bureau?
Yes a judgement can be reported to more than one credit bureau and is usually reported to the three major credit bureaus (equifax, tranunion & experian)
How do you find a list of accounts sent to collections?
Get a copy of your credit report from all three bureaus. You can get a free copy each year. This report will tell you all of the collection accounts that are currently reported, and to which of the credit bureaus they are being reported to.
How long do unpaid traffic tickets stay on a credit report?
Unpaid traffic tickets are not reported to the credit bureaus.
Can unpaid medical bills be reported on credit reports?
Yes, unpaid medical bills will be reported to credit bureaus not to mention the collection agency that the medical facility will pursue.
How long after you make a payment to VISA is it reported to Credit Bureaus?
i think like 8 months
Is every financial transaction reported to all the credit bureaus?
No, just the delinquency history and balances
How long is bankruptcy reported to credit bureaus?
10 years from filing. Some credit bureaus will remove a Chapter 13 after 7 years, but the law allows 10 years for all chapters.
Would getting a negative record in Chex Systems affect your credit history?
yes it can. Sometimes it is reported to the credit bureaus as well
How do you establish credit for the first time?
The best way to establish credit is to start with a secured card. With a secured credit card, your regular payments will be reported to the credit bureaus.
What credit score will a new green card holder have?
A new green card holder will be in the same situation as any other consumer that has not yet established credit accounts that are reported to the three main credit bureaus. Until you have a traditional credit account that is reported to credit bureaus, you will have no credit history. You will be known as an unscorable, since there is insufficient data to be able to adequately predict your risk of nonpayment on a credit account.
