Table of Contents
- Does Bank of America report to the 3 major credit bureaus?
- When does Bank of America report to the credit bureaus?
- How often does Bank of America report to the credit bureaus?
- What information does Bank of America report to the credit bureaus?
- How to view your credit report
- How to build credit with a Bank of America credit card
Lenders can choose whether they report information to the credit bureaus, which bureaus they report to, and what information they report.
What and when credit cards report to the credit bureaus is an important part of building credit, as the information given is used to update your credit report and corresponding credit score.
Does Bank of America report to the 3 major credit bureaus?
Yes, Bank of America reports to the three major credit bureaus:
- Equifax
- Experian
- TransUnion
When does Bank of America report to the credit bureaus?
Bank of America reports to the credit bureaus 3 days after your statement closing date.
Your statement closing date is the final day of your credit card billing cycle. To find your statement closing date, you can:
- Check your credit card statement.
- View your billing cycle information in your online account.
- Call the number on the back of your credit card and ask a customer service representative.
How often does Bank of America report to the credit bureaus?
Bank of America reports to the credit bureaus every 30 days.
What information does Bank of America report to the credit bureaus?
Bank of America reports the following details to the credit bureaus:
- Credit limit
- Account balance
- Payment history
How to view your credit report
Bank of America does not offer credit reports with your Bank of America credit card. However, they do offer free FICO scores, so you can check your credit health.
You can log in to your online or mobile banking account to view your credit score.
How to build credit with a Bank of America credit card
Because Bank of America reports to all three major credit bureaus, you can use your credit card to build credit and improve your credit score.
To build credit with your Bank of America credit card:
- Use your card regularly: Using your Bank of America card responsibly each month gives Bank of America positive marks to report to the credit bureaus. If you have a low credit limit or worry about being able to pay your credit card bill, charge a small recurring purchase to the card (like your Netflix or Amazon subscription).
- Use less than 30% of your credit limit: An important factor in determining your credit score is your credit utilization rate, which is how much of your total credit you’re using. You want this number low, so try to only use less than 30% of your credit limit, or less than 10% for an even better rate.
- Pay your bill on time: The most important part of building credit and raising your credit score is making on-time payments to your Bank of America account. When you pay your credit card bill also matters if you’re trying to raise your score. Pay your credit card bill in full by the due date, and pay down most of it by the statement closing date (since that’s near when Bank of America reports your account standing) to maximize positive reporting.
- Request a credit line increase: Getting a credit limit increase from Bank of America will strengthen your credit history by showing lenders you can handle access to greater funds. It’ll also boost your score by lowering your credit utilization.
- Keep your account open: The length of your credit history also contributes to your credit score, so keep your Bank of America credit card account open to increase your average credit age.