credit reporting

Discussion in 'Credit Talk' started by Mike, Mar 9, 2001.

  1. Mike

    Mike Well-Known Member

    I was just wondering how often do banks report to the 3 CRAs? Every month, two or three months? Also, how long do inquiries stay on your record, 6 months or 1 year? Does cancelling a card count as an inquiry?

    Thanks very much.
  2. Momof3

    Momof3 Well-Known Member

    Most of the major banks report monthly, but some retail cards and smaller banks report every 3 months (JCPenny,Target and Associates) these only updated my reports every 3 months and sometimes not at all until I disputed:(

    Inquiries stay on your reports for 2 years, but from what I have read the last 12 month period is looked at more closely.

    And NO, you will not be charged an inquiry for closing your account.
  3. Dani

    Dani Well-Known Member


    On average banks report to the CRAs monthly if the account is still in circulation - meaning there has been activity on the account. Inquiries from creditors remain on your report for two years. Inquiries from you or promotional offers stay on for 12 months. Cancelling a card does not result in an inquiry. Hope this helps.

  4. Mike

    Mike Well-Known Member

    what about when you're applying for cards, how long do those inquiries stay on the record?

    GEORGE Well-Known Member

    2 YEARS

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