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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.
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 OpenSky report to the 3 major credit bureaus?
Yes, OpenSky reports to the three major credit bureaus:
- Equifax
- Experian
- TransUnion
When does OpenSky report to the credit bureaus?
OpenSky reports to the credit bureaus on or within 3 days of 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 OpenSky report to the credit bureaus?
OpenSky reports to the credit bureaus every 28–31 days.
What information does OpenSky report to the credit bureaus?
OpenSky reports the following details to the credit bureaus:
- Balance
- Payment history
- Length of account (account age)
- Mailing address
How to build credit with a OpenSky credit card
Because OpenSky 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 OpenSky credit card:
- Use your card regularly: Using your OpenSky card responsibly each month gives OpenSky 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 OpenSky 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 OpenSky reports your account standing) to maximize positive reporting.
- Keep your account open: The length of your credit history also contributes to your credit score, so keep your OpenSky credit card account open to increase your average credit age.
