I have a loan through NMAC. I was wondering if NMAC reports my loan payments to any or all of the three credit agencies (experian, equifax, transunion). I am still young and these loan payments showing up on my credit history is very important for me to build my credit rating... so I can buy a house one day or invest in other assets etc... Does anyone know if NMAC actually reports my timely payments to these credit bureaus? If so, which ones do they report to?

If they don't report to any, I am thinking about transferring loan to a different lender...

 

Yes they do report to all three credit agency. It is required by law if you were to borrow something on credit, such as loans, mortage, credit cards. They do show up on all three reporting agency. My car is financed through NMAC and it's there. Trust me, I know credit very well.

 

Its good to still check, i went thru another credit agency for my last car, and they only reported to 1 agency, it ended up costing me a great deal when the bank i went thru for this car loan didnt happen to check that particular agency.

 

as FanaticMadMax said it is the law, so any banks including NMAC will report to the credit agencies. Make sure you are never late w/payments.

 

NMAC definitely reports to all 3. It's been 4 years since I had a loan with them--and I have a "fraud alert" on my reports. Why? I had a passport stolen. What that meant was that I couldn't get "instant credit." Any creditor would have to contact me personally before issuing any credit, they couldn't do it electronically.

When I got the Home Depot card, which is admin. by Citi, I COULD get credit instantly by answering a battery of questions. One of them was have you ever had a car loan, if so, was it with GMAC, BMWCCA, Toyota Motor Credit, NMAC, none of the above. When I answered NMAC, they then asked me how much was the payment, $100-$200/mo., etc. So NMAC info from 4 yrs ago was used for verification of my identity.