How does Atlas build your credit?
The Atlas card is the easiest way to build credit on auto-pilot. Simply sign up, pay the monthly membership fee, and start spending on your Atlas card. Make timely payments or let SmartPay automatically pay off your balance so that you never miss a payment.
Atlas reports good payment history to all three credit bureaus, helping build your credit.
Which credit bureaus does Atlas report to?
Atlas reports to all three major credit bureaus: TransUnion, Experian, and Equifax
What information does Atlas report to the bureaus?
Atlas reports several key pieces of information to all three credit bureaus each month. This includes your:
Monthly credit limit (maximum line of credit that a user can take advantage of),
Current balance (pending balance at the end of month),
Actual payment made (total repayments including membership fee payment within a month), and
Amount past due date.
These details help in establishing your credit history and demonstrate your creditworthiness.
How soon can my credit score increase?
Atlas will start reporting within 2 weeks of activating the account, and without performing any hard credit pull on your credit report.
However, the time it takes for your credit score to increase can vary depending on various factors, including your individual credit history and payment behavior. With responsible usage and on-time payments, members see an average 30-point increase* in their credit scores.
Please note that individual results may vary but here’s what some of the Atlas customers are saying:
“I love this app! I've been trying to build my credit to get my own place and it has went up 35 points in just 1 month!” - Kenisha
“I’m absolutely impressed by atlas. My credit score improved 40pts in less than a month. Can’t wait to see what the future holds.” - Shaebae
“I actually really love this card it’s helped me with my credit since day one. I am so glad I came across this card because in just a couple of months it went from a 500 credit score to a 600 credit score. Thank you for all your help atlas!!” - Lizzy
How can I track my score?
You can track your credit score through the Atlas app. Simply go to the Credit section in the app, and you will be able to see your latest Experian Vantage 3.0 score.
Additionally, you can also use third-party credit monitoring services to keep track of your credit score.
What are the advantages of having a higher score?
Higher credit score comes with several benefits. It can lead to lower interest rates on loans, and increased access to credit. A higher score can save you money in the long run and provide you with more financial opportunities.
What if my credit score drops?
Your initial credit score may decrease temporarily due to the new account reporting, but with timely payments, it should recover and potentially improve within a month, barring any other new credit activity outside of Atlas.
What should I do if my score decreases in a month?
If your credit score decreases in a month, there can be various reasons for it. It's important not to panic and understand the factors that might have contributed to the decrease. Review your credit report for any inaccuracies or negative information that could be impacting your score.
If you notice any discrepancies, you can reach out to Atlas for guidance on how to dispute them. Additionally, continue to make timely payments and practice responsible credit management to help improve your score over time.
*Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
Updated over 2 months ago