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Lenders can choose whether they report information to the credit bureaus, which bureaus they report to, and what information they report.
When credit cards report to 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 Discover report to the 3 major credit bureaus?
Yes, Discover reports to the three major credit bureaus:
- Equifax
- Experian
- TransUnion
When does Discover report to the credit bureaus?
Discover reports to the credit bureaus at the end of each billing cycle, on 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 Discover report to the credit bureaus?
Discover reports to the credit bureaus every 28–31 days.
What information does Discover report to the credit bureaus?
According to their customer service team, Discover reports the following details to the credit bureaus each month:
- Payment history
- Current balance
It’s safe to assume they also report corresponding information, such as your name and account type.
How to build credit with a Discover credit card
Because Discover 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 Discover credit card:
- Use your card regularly: Using your Discover credit card responsibly each month gives Discover 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 Discover 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 when Discover will report your account standing) to maximize positive reporting.
- Ask for a credit limit increase: Taking on a larger credit line will show lenders that you’re a more responsible borrower, and it’ll boost your credit score by reducing your credit utilization. Consider asking for a credit limit increase on your Discover card to build up your credit.
- Keep your account open: The length of your credit history also contributes to your credit score, so keep your Discover account open to increase your average credit age.
