Credit Cad Balance Reporting

[Gibran]

Has anyone noticed if it's taking a while for their updated to show in their CR's, or maybe it's just me. It seems like for the month of Jan it's taking an awful long time for my new balances to show up, especially compared to my new statements that are about to cut. I paid off 4 CC's (out of the 8 that I have) to a $0 balance, now I only have 1 reporting a small balance so I'm pretty anxious to see how much my score increases. It seems like in previous months my reports updated pretty quick, maybe it's because it is Jan and the new year or maybe I'm just being impatient waiting to see my score rise. Just wanted to reach out and if anyone else has noticed anything.

[llecs]

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@Gibran wrote:

Has anyone noticed if it's taking a while for their updated to show in their CR's, or maybe it's just me. It seems like for the month of Jan it's taking an awful long time for my new balances to show up, especially compared to my new statements that are about to cut. I paid off 4 CC's (out of the 8 that I have) to a $0 balance, now I only have 1 reporting a small balance so I'm pretty anxious to see how much my score increases. It seems like in previous months my reports updated pretty quick, maybe it's because it is Jan and the new year or maybe I'm just being impatient waiting to see my score rise. Just wanted to reach out and if anyone else has noticed anything.

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They'll report typically on or a little after your statement date (w/ a couple of exceptions). Are most of your statement dates in the first half of the month?

[Gibran]

Yep 3 of the 4 that I paid off have a statement dates in the first half of the month.

CapOne - 13th

HSBC - 12th

BBRZ - 7th

[JayRizzo]

Unless you just did a major utilization reduction, I don't think you'll see much of a difference.  I think the monthly average is around 5 to 8 points each month just for paying your bills.  Some companies wait until the end of the month and send over one batch of updates rather than after each customer's statements... each is different.