Does Kabbage Report to Credit Bureaus

Does Kabbage Report to Credit Bureaus?

Kabbage’s specific reporting policies are not publicly detailed. For definitive information on whether they report to business credit bureaus like Dun & Bradstreet, Experian, or Equifax, and what data is shared, it is best to contact their support directly. Generally, lenders report activity based on several key triggers.

• Account Opening: A new credit line is reported to bureaus shortly after approval and acceptance of the terms.
• Statement Closing Date: Your account balance and payment status are typically reported around your monthly statement closing date.
• Late Payments: Payments become reportable once they are 30, 60, or 90 days past due, negatively affecting credit.
• Account Closure: The closure of an account, whether initiated by you or the lender, is reported to bureaus.

Who Does Kabbage Report Credit Information to?

While Kabbage does not publicly disclose its reporting partners, business lenders generally report account information to the three major business credit bureaus:

• Dun & Bradstreet
• Experian Business
• Equifax Business

When does Kabbage Report to Credit Bureaus?

There isn't a specific, set-in-stone date when Kabbage reports to credit bureaus for all its customers. Instead, reporting typically occurs on a monthly cycle that aligns with your individual account's statement period. This means the exact day your information is sent can differ from other borrowers. Furthermore, certain events or triggers, like a late payment or a significant change to your account status, will also be reported to ensure your credit profile remains up-to-date.

How Reporting Can Affect Your Credit Score

Positive impact

• Consistently making on-time payments helps build a positive payment history, which is the most significant factor in calculating your credit scores.
• Maintaining a low balance demonstrates responsible credit management and can improve your credit utilization ratio, another key scoring component.

Potential negatives

• Missing payments or paying late will be reported to credit bureaus, negatively impacting your payment history and lowering your credit scores.
• Carrying a high balance relative to your credit limit increases your credit utilization ratio, which can significantly drag down your scores.

Tips for Managing Credit with Kabbage

Effectively managing your Kabbage line of credit is key to building a strong financial foundation for your business. Here are some actionable tips to help you stay on track:

• Monitor your account regularly: Keep a close eye on your Kabbage dashboard to track spending, available credit, and payment due dates to stay on top of your finances.
• Make timely payments: Always pay your monthly statement on time to avoid late fees and maintain a positive payment history, which is crucial for your business credit score.
• Borrow only what you need: Resist the temptation to draw your maximum available credit. Only borrow what your business truly requires to avoid accumulating unnecessary interest charges and debt.
• Understand the fee structure: Familiarize yourself with Kabbage's fee structure. Knowing how much each draw will cost helps you make informed borrowing decisions and manage cash flow effectively.
• Create a repayment plan: Before you draw funds, have a clear plan for how your business will repay the loan. This ensures you can meet obligations without straining cash flow.

‍

Get More From Your Credit Cards

To get the most value from your credit cards, Kudos is the premier free shopping extension to use while browsing online. Right now, you can earn $20 back after your first eligible purchase—simply sign-up for free with the code "GET20" and complete a transaction at a Boost merchant.