Does Perpay Report to Credit Bureaus? Timing and Late Payments

Yes. Perpay does report to the credit bureaus, and it sends data to all three of the major ones: Experian, Equifax, and TransUnion. Reporting is not automatic for every Perpay user, though. It happens only through the company’s two paid credit-building products: the Perpay+ subscription tied to the Perpay Marketplace, and the Perpay Credit Card.¹

All Three Major Bureaus Receive the Data

Perpay furnishes information to Experian, Equifax, and TransUnion.¹ Because the data goes to all three, any lender who pulls your credit from a single bureau should still see the tradeline. It can factor into both FICO and VantageScore calculations regardless of which model the lender uses.

Which Perpay Product You Have Changes What Gets Reported

The two products report differently, and you can have one without the other. Each is furnished to the bureaus independently.²

Perpay+

Perpay+ is a $5-per-month subscription tied to the Perpay Marketplace, deducted from your paycheck.¹ Once you enroll, Perpay reports your approved spending limit to the bureaus, and your on-time marketplace payments are reported as you make them. The account shows up on your credit report as an installment-style tradeline.³ You do not have to make a purchase to benefit; having the spending limit reported each month is enough to establish activity.²

Perpay Credit Card

The Perpay Credit Card is a separate Mastercard usable anywhere Mastercard is accepted, not only in the Perpay Marketplace. It reports as a revolving credit account, the same tradeline type as a traditional credit card.³

When Reporting Starts and What Shows Up

After you enroll in Perpay+, the company reports your approved spending limit within 60 days, though in most cases the data appears within 30. It can take up to two months for that information to show on your bureau records.⁴

Once reporting is active, a few specific data points feed into your credit profile:

Approved spending limit. Perpay+ limits go up to $1,000. The Perpay Credit Card’s initial limit can go up to $1,500, with an increase possible within three months of opening the account.¹
Utilization. Carrying a zero balance shows 0% utilization on your credit report.²
Payment history. Each successful payroll deduction on a marketplace order is recorded as an on-time payment.
Credit mix. Perpay+ adds an installment tradeline; the Perpay Credit Card adds a revolving one.³

If you decide to cancel Perpay+, clear any outstanding balance first so the final activity on your report is accurate.²

How Perpay Reports Late and Missed Payments

The same reporting pipeline that helps your score can hurt it. Creditors generally report a payment as late once it is at least 30 days past due,⁵ and Perpay’s credit card agreement states that late payments, missed payments, and returned payments may be reflected in your credit report.⁶

Under the Fair Credit Reporting Act, negative information such as late payments can remain on your credit report for up to seven years.⁷ A single 30-day late can cause a noticeable score drop, and repeated missed payments or a default can lead to account closure. If you switch jobs or lose direct deposit temporarily, resolve the payment before the 30-day mark to avoid a negative mark.

What the Reporting Costs

Both credit-building products carry ongoing fees:

Perpay+: $5 per month, deducted from your paycheck.¹
Perpay Credit Card: no annual fee, but a monthly account service fee of $5.50 to $9.00 during the first year and $9.00 per month afterward.⁶
Late payment fee on the credit card: $24 if you do not pay at least the minimum by the due date.⁸
Returned payment fee on the credit card: $24 if a payment fails due to insufficient funds or a similar issue.⁸

Perpay+ works out to about $60 per year. The credit card’s monthly fee can reach $108 per year, which is higher than many entry-level secured cards that also report to all three bureaus.

Fixing an Error on Your Credit Report

If Perpay reports something you believe is inaccurate, you can dispute it. The Fair Credit Reporting Act requires credit reporting agencies to investigate disputes and to correct or remove information that is inaccurate, incomplete, or unverifiable, typically within 30 days.⁷

You can file directly with the bureau showing the error (Experian, Equifax, or TransUnion), or you can contact Perpay as the furnisher. When disputing with the furnisher, send your explanation in writing by certified mail and include copies of any supporting documents. Perpay generally must investigate and respond within 30 days. If the investigation confirms the information was wrong, Perpay must update or remove it and notify all three bureaus.⁹

1
Perpay. Perpay+
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Perpay. Perpay+ FAQs
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Perpay. How to Build Credit with Perpay
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Perpay, Inc. Perpay Terms and Conditions
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Experian. When Do Late Payments Get Reported?
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Perpay, Inc. The Perpay Mastercard Credit Card Cardholder Agreement
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Consumer Financial Protection Bureau. A Summary of Your Rights Under the Fair Credit Reporting Act
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Perpay. Perpay Credit Card Terms
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Consumer Financial Protection Bureau. How Do I Dispute an Error on My Credit Report?