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Knowing the reporting schedule of Bank of America is essential for maintaining a good credit standing. Bank of America routinely sends updates to credit bureaus, ensuring your credit activity is properly reflected.

Which credit bureaus does Bank of America use?

Personal accounts

Bank of America reports personal account details to the three main credit bureaus: Equifax, Experian, and TransUnion. Information such as payment history, credit limits, and account status are included in these reports. Regular, timely payments can enhance your credit score, whereas late payments or high credit utilization may negatively affect it. Reporting to all three bureaus ensures that your credit history is thoroughly recorded, which can be advantageous when applying for new credit or loans.

Business accounts

For business accounts, Bank of America reports to Equifax, Experian, and Dun & Bradstreet. These agencies focus on business credit reporting, which differs from personal credit reporting. Business credit reports help companies establish their creditworthiness and financial stability, which is crucial for obtaining business loans, lines of credit, and favorable terms with suppliers. Reporting includes payment history, credit utilization, and any changes in credit limits or account status, assisting businesses in building and maintaining a solid credit reputation.

How often does Bank of America report to credit bureaus?

Bank of America generally reports to credit bureaus on a monthly basis. The exact timing can vary but typically occurs a few days after the end of your billing cycle. This means that details of your account activity, including your balance, payments made, and any changes in credit limits, will be updated on your credit reports approximately every 30 days. Additionally, Bank of America may report when the balance is paid down to zero.

Does Bank of America report authorized users to credit bureaus?

Yes, Bank of America reports authorized users to the credit bureaus. When an authorized user is added to a Bank of America credit card account, their details are shared with Equifax, Experian, and TransUnion. 

The authorized user's credit report will reflect the account's activities, such as payment history, credit utilization, and account status. This can help the authorized user build or improve their credit score, but it's crucial to manage the account responsibly as negative actions, like missed payments or high credit utilization, can also affect the authorized user’s credit report.

Does Bank of America perform a hard inquiry?

When you apply for a new Bank of America credit card or loan, a hard inquiry is usually made. A hard inquiry, or hard pull, happens when a lender reviews your credit report to make a lending decision. This can temporarily lower your credit score and will be noted on your credit report, visible to other lenders. 

For pre-qualification or pre-approval offers, Bank of America typically performs a soft inquiry, which does not affect your credit score. A soft inquiry allows Bank of America to assess your creditworthiness without impacting your credit report. If you proceed with a formal application after a pre-approved offer, a hard inquiry will then be made.

Forget credit utilization with a Ramp corporate card

Traditional credit cards affect your credit score based on your credit utilization rate—the percentage of available credit you're using. High utilization can negatively impact your credit score, making it challenging to keep the percentage low.

Ramp offers a different model. Our charge card must be paid in full each month, eliminating the concept of revolving credit balances. Since Ramp doesn’t report your credit utilization, your credit score is not impacted by your business spending.

This structure allows you to use your card according to your business needs without worrying about its effect on your credit score. Ramp enables you to manage your expenses efficiently and focus on growing your business without the usual constraints related to credit utilization.

Disclaimer: The information provided in this article has not been officially confirmed by Bank of America and is subject to change.

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Finance Writer and Editor, Ramp
Ali Mercieca is a Finance Writer and Content Editor at Ramp. Prior to Ramp, she worked with Robinhood on the editorial strategy for their financial literacy articles and with Nearside, an online banking platform, overseeing their banking and finance blog. Ali holds a B.A. in Psychology and Philosophy from York University and can be found writing about editorial content strategy and SEO on her Substack.
Ramp is dedicated to helping businesses of all sizes make informed decisions. We adhere to strict editorial guidelines to ensure that our content meets and maintains our high standards.

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