When does Self report to the credit bureaus?
We report once a month to the three major credit bureaus. This report, which is sent to the credit bureaus the first week of each month, is a snapshot of your Self account at the end of the month before.
This report includes information on your Credit Builder Account, and, if applicable, your Self Visa® Credit Card.
If you open a Credit Builder Account in mid-January, we report your account-opening to the credit bureaus the first week of February.
If you don’t make your first monthly payment (not just your administrative fee) until February, that payment won’t be reported to the bureaus until the first week of March.
Here's an example timeline for credit reporting:
- January 15th - You create your new Credit Builder Account and pay your administrative fee.
- 1st week of February - Self reports your newly opened account to the 3 major credit bureaus.
- February 10th-15th - The credit bureaus update your credit report. (Please note - in some cases, it may take credit bureaus a few weeks or more to update your credit report).
- February 14th - You make your 1st monthly payment to Self.
- 1st week of March - Self reports your 1st monthly payment to the 3 major credit bureaus.
- March 10th-15th - The credit bureaus update your credit report. (Please note - in some cases, it may take credit bureaus a few weeks or more to update your credit report).
The monthly credit report includes your:
- Account balance as of the last day of the month
- Account status (open or closed)
- Account payment history
Important note: It takes a few weeks or more after we send the report for the credit bureaus to update your credit report. It may take even longer to appear on other credit monitoring sites.
If you don’t have credit before joining Self, or you haven’t had an active credit account in a long time, you may not have a credit report.
Learn more about how often credit reports get updated HERE.