Confused by CCT & Reporting

[Anonymous]

I am a member of Credit Check Total (CCT). This is in reference to my Experian report and my Capital One account.

My Capital One statement cuts on the 6th of every month. On CCT, it shows my CapOne balance was $250 and that it was last updated on 07/01. What confused me is that Capital One told me that they report to the CRA's 2-3 days after the statement cuts but CCT is showing that my CapOne account was last updated on 07/01 with my statement balance being accurate, despite my CapOne statement not cutting for 5 day after and supposedly not reporting for another 2-3 days after that.

Is CCT reporting something incorrectly? How would CCT know my correct statement balance of CapOne by 07/01 if CapOne didn't cut the statement until 07/06? My guess is that CCT is reporting the "last updated" date incorrect as there were charges from 07/01 to 07/06 that contributed to the $250 balance as of my last statement cut.

Any ideas? Sorry if this is confusing.

[Random_idiot]

Same freakin thing happening here. All my credit scores are pending. I made a payment on 7/20 which once whenver the heck cap 1 updates it, should show a less than 10% utilization. (Huge difference from 79%) and also a new cli ( 750 to 1750). My cut off date is the same. And ive been WAITING for it to be reported to my damn CBs so i can start applying for dome rewards cards. UGH.

[delaney1]

Hmmm, my Cap One statement will close today. My cct reporting hasn't shown any new Cap One history since it updated after July's statement. Wonder what's going on with yours.

[Anonymous]

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@delaney1 wrote:

Hmmm, my Cap One statement will close today. My cct reporting hasn't shown any new Cap One history since it updated after July's statement. Wonder what's going on with yours.

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Mine, too, is only showing from July. This months statement cut tomorrow. I' m just confused as to how CCT obtained my $250 balance on my July statement that cut on the 6th on July when they show the last time the record was updated was on the 1st of July.

[takeshi74]

CO should report on statement date and it's the CRA that can take several business days to update.  If you're seeing a report date earlier than the actual report date then something else may be going on.

The data should be the same but pull your report directly from the CRA to verify.  Even if the dates don't exactly jive I wouldn't see it as a major issue if the balance, limit and all other data is correct.  What really matters is whether or not a scoring model has access to up to date information that it uses in generating the score.  The update date on the report really isn't as important as the scoring model isn't going to use that information.

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@Anonymous wrote:

Is CCT reporting something incorrectly? How would CCT know my correct statement balance of CapOne by 07/01 if CapOne didn't cut the statement until 07/06?

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CCT doesn't report anything. Creditors report to CRA's.  Services like CCT pull data from the CRA.  CCT and the CRA only know what is reported to them.

There is always the possibility of data issues with a given service which is why you need to verify what's acutally on your reports by pulling direct from the CRA.  Again, though, I wouldn't consider this a signficant concern if it's just a matter of the report date being off a few days.  While you generally want your reports to be accurate you should also consider the impact of the data you're fretting over.