How must a credit card company notify me before reporting to the credit reporting agencies?


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  • Official comment
    Stilt Team

    The short answer is - credit card companies don’t notify borrowers before reporting to the bureau.

    When you sign your agreement, you allow credit card companies to pull your data, report your data, and share your data with third parties. They are not obligated to inform you again about this. Most credit card companies report data daily to credit bureaus and if you miss a payment, it will show up on your report the next day.

    Unfortunately, millions of people have to pay late payment fees because of issues like these and this is a major revenue source for credit card companies. It is in their best interest to not keep you actively informed so they can charge hefty fees.

    They are not concerned with how it will affect your credit score or your future, you are just a number.

    The best course of action forward is to get your late payment removed from your report by calling the credit card company and explaining the situation. With some luck, it may actually be removed from your report.

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