At Credit Karma, we give you access to your TransUnion and Equifax credit report information. In most cases, creditors report the past month's activity to the credit bureaus every 30 days, so we suggest that you check your account on Credit Karma at least once a month. Sometimes, though, you'll see a credit card that hasn't been updated on Credit Karma for several months. What's going on here? Why are you seeing old information?
If you find yourself with an account that lists outdated information, you may be experiencing one of the following scenarios. Let's do a little digging and talk about what you can do with that old information.
Scenario #1: The credit bureau has stopped sending us new information.
All of the credit report information we display comes straight from TransUnion and Equifax, two of the three major credit bureaus. We don't gather information from creditors and creditors don't report directly to us because we're not a credit reporting agency or credit bureau. So if TransUnion or Equifax has stopped updating us on your credit card, we will continue showing information from the last time they sent us any new activity.
What should you do? Reach out to TransUnion or Equifax and see if they can tell what's going on. They might have a glitch in their system or they might not have any new information to report - which brings us to our next scenario...
Scenario #2: Your lender has stopped reporting information to TransUnion or Equifax.
It costs lenders money to report information to the credit bureaus. If your account has become inactive, then your lender may not be inclined to keep reporting your account information. In some cases, they might even close your account.
What should you do? Contact your lender to see if they're still reporting information to TransUnion and Equifax. If they've stopped, find out why and how you can get them to start reporting again. Additionally, if it's been a while since you've used your credit card, take it out for a spin. You don't have to go wild, but making periodic purchases - however small - will help keep your account active.
Scenario #3: The account has been closed or bought by another lender.
This situation typically applies to lost credit cards that are closed and a person is issued a new one. The closed lost credit card will sometimes continue reporting as an open account but with old information. This can also happen when a mortgage or student loan is transferred to a different lender. The old loan will stick around in a limbo state and will eventually be removed by the credit bureau.
What should you do? It's up to the credit bureaus to keep credit reports in order, so we again suggest contacting them to correct any errors they may have or inquire about the status of an account. You can also contact the lender directly to ask about its reporting status and request a change. Just keep in mind that your lender may not be required to honor your request.
Scenario #4: Something's up.
Then again, it could be that something weird is going on with a particular account. For instance, members of a particular credit card may notice something strange occurring in the reporting of their accounts, all around the same date. Issues like this can be temporary, so that's when it's helpful to tap into the knowledge of the rest of the Credit Karma community. Try posting your questions in our Credit Advice Center and see if the Credit Karma community can help you out. A Credit Karma member out there might have the answer.
Like we mentioned earlier, all of our information comes from TransUnion and Equifax. Credit Karma is a free resource for monitoring your credit and checking for inaccuracies. We're unable to dispute errors directly with the credit bureaus, but we've compiled some guidelines on how you can dispute errors and clean up your credit report.
If you have any questions about this, feel free to reach out to our support team!
About the Author: Charmaine Ng is the Communications Coordinator at Credit Karma. When she isn't writing her way through life, you can find her reading about the latest in entertainment and watching television almost every night of the week. Say "hi" @noodlemaine!
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