Back not to many years ago mortgages like utilities did not report at all to the credit bureaus. Then FHA, VA, Fannie Mae, USDA Rural Development started changing some of their requirements. With my loan they gave me the choice at closing to opt in for reporting or opt out. Since that was six years ago I do not know how many of the mortgages handle reporting. It may not be the consumers choice. I remember back to 1985 when the mortgage loan company (FHA) gave me the option to have my mortgage reported in summary after I sold the house (I exercised the option). Wanted it to report. So mortgages did not always report. My first residential home loan was 1976 (VA) and it never reported nor did my loan from 1979 (FHA). So it is newer in the last many years.

You would think that since this is such a big part of the American economy as a whole, it would be an automatic thing. You get scores based on a $1,000 purchase of a couch, but not a $200,000 purchase of a house? Is it because we don't use credit cards to buy homes?

Times are changing and the credit reporting option for mortgage loans may be a thing of the past. My loan originated six years ago and certain loans had the reporting option (not all).

Wanderer wrote: Until of late, many mortgage lenders bank and nonbank did not report mortgage credit unless there was negative activity. My lender of late allowed me to decide whether I wanted the mortgage to report. Noticed once it started reporting I saw a score increase of 30+ points and mortgages are a reporting category in the Fico Scoring formulas.

Really, I was not aware lenders allowed people to decide whether to report it or not? I would assume it always gets reported.

Until of late, many mortgage lenders bank and nonbank did not report mortgage credit unless there was negative activity. My lender of late allowed me to decide whether I wanted the mortgage to report. Noticed once it started reporting I saw a score increase of 30+ points and mortgages are a reporting category in the Fico Scoring formulas.

After any big debt increase, your credit score will likely take a hit. However if you continue to pay off your mortgage each and every month, your credit score should bounce back and possibly improve to a higher score than before.

Lexie wrote: After you get that credit report up to date, really consider all aspects of getting a credit card. Maybe a debit card would be better if you will have trouble managing a cc. No slams to you. It's just that some folks (my son included) can't handle having a cc. If you are not one of those people then please shop around to see which one gives you the most rewards. Let us know what you decide.

If you have trouble getting your mortgage to report, you can always get a credit card designed to build credit with a very low limit on it, then use that to build your credit to a level where you can get a better card. The credit card reviews on here have a few that might be suitable, and some even have reward schemes. It still won't be as good as getting your mortgage on there, but it is something.

After you get that credit report up to date, really consider all aspects of getting a credit card. Maybe a debit card would be better if you will have trouble managing a cc. No slams to you. It's just that some folks (my son included) can't handle having a cc. If you are not one of those people then please shop around to see which one gives you the most rewards. Let us know what you decide.

I agree with what everyone said. I would expect your mortgage to be on there within 6 months. If not, something wrong is definitely going on. Let us know what the bank says.

I agree, Cents. It's really important to get everything on there, because gaps on a credit report can look very bad. It's really worth contacting the bank if something like a mortgage isn't on there!

Wow, Wanderer, that's a significant increase! I think it's important that people see this because so often they are only looking for the blemishes on their report and they aren't concerned with a lack of reporting for something positive.

Hi all. Awesome site, absolutely one of the best ideas I have come across lately! Well done to the founders. On to my question. The last 10 years was very rough financially (well, until 2 years ago). I had a short sale and collections on medical, etc. my current situation is as follows. Income, 104K base. One car loan, 18K remaining and best of all just purchased new home for 220k. FHA loan @ 3.75. No credit card debt and total unsecured credit limit of $1300 which I know is low. Currently my FICO is 645. Mortgage with Wells Fargo is not reporting yet even though it has been nearly 5 months. Suggestions on whether or not I should apply for a rewards type cc would be helpful. My goal would be use it exclusively for all purchases and pay in full monthly to really build up points. Hope this post wasn't too wordy. Thanks in advance!

Insufficient info on your background to comment on whether you should apply for rewards cards but, call Wells Fargo Mortgage and report the fact they are not reporting on your mortgage to the credit bureaus. In my case, the mortgage reporting increased my FICO's by about fourty points.

My suggestion would to be to check out your local credit union. Some of the CUs also offer reward visa/mastercards. I have one with my local credit union that has great rewards, to me beats some of the best out there. Best of luck to you.

Hi all. Awesome site, absolutely one of the best ideas I have come across lately! Well done to the founders. On to my question. The last 10 years was very rough financially (well, until 2 years ago). I had a short sale and collections on medical, etc. my current situation is as follows. Income, 104K base. One car loan, 18K remaining and best of all just purchased new home for 220k. FHA loan @ 3.75. No credit card debt and total unsecured credit limit of $1300 which I know is low. Currently my FICO is 645. Mortgage with Wells Fargo is not reporting yet even though it has been nearly 5 months. Suggestions on whether or not I should apply for a rewards type cc would be helpful. My goal would be use it exclusively for all purchases and pay in full monthly to really build up points. Hope this post wasn't too wordy. Thanks in advance!