Date U.S. Bank Reports to CRA?

[haulingthescoreup]

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@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.

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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.

[Gotons]

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

[haulingthescoreup]

Not trying to correct!

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...

[Gotons]

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

[Anonymous]

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 Always seems to be the case!

[JMN]

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.