Credit Cards

[minimock]

Has anyone ever noticed that BOA will report a balance increase on the 1st of the month, regardless of your due date and then re report after your statement closes?

However they do not report a balance decrease on the first if you pay early.

Seems like they want to get their licks in first lol.

Just something I noticed over the last 6 months or so

[mustangy]

Yes they did same to me. Boa is not consumer frendly about report to. My visa signutare higher limit was 6k (highest statement) and they didn't report.
I applied for CLI for visa signsture mostly paid early and they hard pulled both TU ang EXP I spend 60k a year and mostly early paid off.
Now I have a master card with no rewards and $29 annual fee I cslled to convert it to boa amex they said we will call you back 26.12.2012 there is no business day after that they and jan 1 2013 is mean another fee tricky.
I ll give shut to back order number and maybe will get some other card but I know they will hsrd pull at least 2 CRA again
So they lost a client with 60k annual spend 50k was in checking account and a merylynch sccount I ll use amex and chase for next year

[navigatethis12]

I have not noticed that. I do know that Bank of America/FIA will report as soon as something changes on the accounts. Credit limit increases/decreases, change of address, moved statement date, or disputed information will all cause them to update the report immediately. I was under the impression it cost money to report, so I wonder why they do it for you twice.

[minimock]

---

navigatethis12 wrote:

I have not noticed that. I do know that Bank of America/FIA will report as soon as something changes on the accounts. Credit limit increases/decreases, change of address, moved statement date, or disputed information will all cause them to update the report immediately. I was under the impression it cost money to report, so I wonder why they do it for you twice.

---

They do it lol. My due date is on the 5th, and if my balance goes up more then a few hundred bucks they report it on the 1st. Then turn right back around and report on the 6th after the bill is paid....

It really is not a biggie, I just found it interesting.

[HiLine]

By "report" do you guys mean "report to the CRA's"? If so, I haven't noticed BofA reporting mid-cycle at all. I have increased my balance by about 3k so far this month, and I haven't been sent any credit alert from my credit monitoring services.

On a related note, can someone please confirm that the high balance on a BofA Visa Signature is updated immediately even without being reported to the CRA's? I want to pay off the balance but would like to retain the high balance information too.

[YahComb]

hiline, i think as far as BOA goes, high balance is like statement balance-whatever it is at the end of the day is the number that is used. so if you currently have a high balance of 1000, but today something posts that makes your current balance 2000; if you sent in a payment for 500 and it posted at the end of today, BOA would show your high balance as 1500 the next time your reports update.

[HiLine]

---

---

Thanks for your response, YahComb. My current balance has been the same for the last several days, and this is the balance I want to get reported as the high balance on my card. Should I feel confident about paying it off now without affecting the reported high balance?

[YahComb]

if you've already had that balance sit at the end of a day, you should be okay to pay it down now.

[HiLine]

---

YahComb wrote:

if you've already had that balance sit at the end of a day, you should be okay to pay it down now.

---

Thanks for the confirmation!

[mustangy]

my total volume goes up friday to 3000$ and today monday i checed its already reported to TU and EX.

and highest separated by years how they calculate the utilazation then, high of that year or high of all times ? Boa is become boring for me internet shop safe usually declined for security reason and you have to call them but for amamzon shops you lose days because you learn in when they try to ship .

I gues i ll use amex bcp for daily spends from now on.