Chime reports your instant loan activities to the three major credit bureaus: TransUnion®, Experian®, and Equifax®. The reports are sent out at the beginning of each month, however, credit bureaus may take a few weeks to update your score, so you might not see the changes until then.
Even if you’ve made a full payment by the due date, your loan balance may still appear on your credit report because reporting reflects your balance as of the last statement cycle, not real-time updates. For example, if your loan was reported on the 1st of the month and you paid it off on the 2nd, your report may still show a balance until the next reporting cycle.
Your credit score is based on multiple factors including information about your on-time payments and any missed or late payments, so keeping your payment up to date can help build a positive credit history and improve your score over time.
If you see any errors in your reporting, you can contact us for assistance.