Anyone knows if GM Card reports timely payment to a CRA - and which one if yes ? And a generaly question: If a credit card issuer does NOT report a good standing account to CRA is there a way to force them to do it ?
I used to have a GM credit card and they reported to the CRAs. It's reported by Household Bank, the bank that actually issues the card. There is really no way to 'force' a creditor to report to a CRA. There is no law that requires them to do so. In fact some of the sub-prime mortgage lenders have deliberately decided not to report to CRAs our of fear of having their customers being able to refinance elsewhere with the positive trade line on their mortgage. It's entirely up to the creditor whether or not they wish to report their experience with you to a CRA.
RE: Question regarding reporti Actually I have heard differently. Wish I still had the information in front of me but it went something like this. If the creditor already has an account with the a CRA and has reported information (even if only negative) then the consumer has a right to have his account placed with that CRA. Or something to that affect. Would really appreciate hearing from a true credit expert such as Credit Ranger or Kristy Feathers regarding this manner.
