Who do you tell about my credit wins with Cleo's Credit Builder?
Cleo reports to the top three credit bureaus, Experian, EquiFax, and TransUnion 14 days after your due date.
What do you tell them?
- Outstanding balance owed: The balance not paid off from the prior month. If you paid off your last statement in full, your outstanding balance should be $0.
- Payment status: The status of your payment. Your payment status is a reflection of whether or not you paid last month’s statement.
- Current balance: The amount you have spent since the last statement plus any outstanding balance owed, if you owe something.
What don't you share with them?
Cleo doesn't report on:
- Credit limit: Since you can set how much you want to spend on Cleo Credit Builder, you won't have a pre-set limit
- Card utilization: Cleo doesn’t report percent utilization to the major credit bureaus because it has no pre-set credit limit. That means spending up to the amount you added will not show a high-utilization record on your credit history.
How can I keep track of the changes to my score?
Keeping track is all part of the journey to unf*cking your credit! Cleo will notify you when your latest credit report is available and will keep you updated on any changes that affect your score.
To sign up, you can say "credit score" in Cleo's main chat and she'll help you sign up for the feature.*
*Credit Score is a feature available to Cleo Plus & Premium subscribers and is provided by Equifax.