Some Apple Card users are reporting that the card is showing up in their Experian reports. The card has been factored into TransUnion credit reports for some time, but had not previously appeared in either Experian or Equifax.
The Apple Card feed into Experian appears to be a gradual one, as the card is showing up for some but not all Reddit users who checked their reports…
Federal law entitles you to get a free copy of your report once a year from each of the three main US credit reference agencies. You request these through a joint website, annualcreditreport.com. However, you can currently get free weekly updates.
During these times of COVID-19, accessing your credit is important. That’s why Equifax, Experian, and TransUnion are now offering free weekly online reports through April 2021.
Some banks and other financial institutions also allow you to view your credit score from one or more of these agencies, and the agencies also offer subscriptions with on-demand access to your report via an app.
Your report will show your credit account, which includes loans, credit cards and finance agreements. Some Reddit users are reporting that the Apple Card showed up in their Experian reports within the past few days.
“Apple Card now reports to Experian”
“Can confirm it’s showing in my Experian app now as well.”
“Same. Showing up on my Experian app as well.”
“Apple Card showing you in my Experian.”
Others, however, are not yet seeing it.
Those who track their credit scores regularly are seeing either a bump or drop in their score as a result of the Apple Card being added to their report, which is to be expected.
Calculation of credit scores is based on five factors:
- Payment history
- Length of credit history
- Recent activity
- Overall capacity
For example, getting an Apple Card without changing your spending habits means that you now have access to more credit, but are not using any more of it, so your utilization goes down (which is good). Additionally, you are building up payment history with a new credit provider, which also boosts your score.
Conversely, any new line of credit reduces the average length of your credit history across all cards and other sources, which can hurt your credit score for a time.
You can learn more about how credit scores are calculated here.
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