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Date U.S. Bank Reports to CRA?

Moderator Emerita

Re: Date U.S. Bank Reports to CRA?

 


Gotons wrote:

My US Bank secured card always reports on the first of each month and my statement was cut on the 21st.  Over the last few months, my statement date has varied between the 21st, 22nd,  and 23rd and has always reported on the first.  I had a 0 balance until midnight tonight when $7 was charged to my account and it reported the $7, so go figure.


 

US Bank is one of the very few banks (including HSBC and Orchard bank cards) that reports the balance as of the last business day of each month, rather than the balance on the statement.

 

Unlike HSBC and Orchard, it reports this info immediately.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 11 of 16
Regular Contributor

Re: Date U.S. Bank Reports to CRA?

I stand corrected.  The $7 was charged on the last business day of October!

Message 12 of 16
Moderator Emerita

Re: Date U.S. Bank Reports to CRA?

Not trying to correct! Smiley Very Happy

 

It's just confusing to have these three banks (and probably some local banks/ CU's somewhere) update on a different schedule from all the others. Just when we think we've figured it out...

 

Smiley Tongue

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 13 of 16
Regular Contributor

Re: Date U.S. Bank Reports to CRA?

I definitely don't mind being corrected! haha.  The better the information out there...well....the better.

Message 14 of 16
Frequent Contributor

Re: Date U.S. Bank Reports to CRA?

I have 2 USBank cards (with different statement dates) so I can definitely tell you that they report the balance as it stands on the last day of the month. Typically this showed up on Experian first for me on about the 4th-7th day of the next month. However, USBank is being really weird these past couple of months. October JUST showed up on my reports at the beginning of November. Of course this happens right as I'm waiting for a big balance to turn into a zero balance Smiley Happy Always seems to be the case!

Message 15 of 16
Frequent Contributor

Re: Date U.S. Bank Reports to CRA?

Last business day of the month is correct. This holds true for both U.S. Bank's credit cards and Lines of Credit, if I'm recalling correctly.

Despite my employment in the banking industry, any and all views contained in this post are purely my own, and do not represent any financial institution, nor constitute as financial or investment guidance or advise.
Message 16 of 16