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I'm new to the Discover family so I was wondering if anyone knew when Discover decides to report to the CRAs.
I haven't even had my first statement generated and they have already reported twice including this morning to EQ (according to myFico), with a balance that is a couple of days out of date. Seeing as I want to optimize my utilization, I was planning on paying my balance down to zero before the statement cuts on the 19th. I'm assuming they are going to report again when the statement actually cuts.
So any experience with this? Are three reports during a billing cycle typical?
They didn't report my card till around 3 months till after i got the card. After that they done it monthly for me
Extra reports during a billing cycle are unusual, but I'm guessing these were done because your card is new. Discover usually reports shortly after the monthly statement date, then typically skips a month's reporting after granting a CLI.
It's a good thing util has no memory. Just pay down as you'd planned and after the next statement it should report the figure that's on the statement.
@Anonymous wrote:I'm new to the Discover family so I was wondering if anyone knew when Discover decides to report to the CRAs.
I haven't even had my first statement generated and they have already reported twice including this morning to EQ (according to myFico), with a balance that is a couple of days out of date. Seeing as I want to optimize my utilization, I was planning on paying my balance down to zero before the statement cuts on the 19th. I'm assuming they are going to report again when the statement actually cuts.
So any experience with this? Are three reports during a billing cycle typical?
Discover knows...and Discover takes its sweet time with reporting
Sounds like you have the opposite experience. My IT took 4 months to report (all history was there), they auto CLI me every couple of months - again, it takes an extra cycle for them to report each time they do so. It's actually nice because I've used 0% offers and "ghosted" balances for a month without hurting UTIL
@Anonymous wrote:I'm new to the Discover family so I was wondering if anyone knew when Discover decides to report to the CRAs.
I haven't even had my first statement generated and they have already reported twice including this morning to EQ (according to myFico), with a balance that is a couple of days out of date. Seeing as I want to optimize my utilization, I was planning on paying my balance down to zero before the statement cuts on the 19th. I'm assuming they are going to report again when the statement actually cuts.
So any experience with this? Are three reports during a billing cycle typical?
If you're applying for anything in the near future you can ask Discover over chat to report mid-cycle and they will happily do it. If you're not applying for anything soon, I wouldn't worry about it and they will start reporting every month after your statement.
You are planning on being in the garden for 6 months, and optimizing score now? One of the benefits to being in the garden is being able to ignore such details for a while, take a vacation from OCD, since no apps are pending.
Congratulations on the Discover!
Thanks for the help everyone! Since I am gardening, I guess I will figure out how to let go of my obsession with utilization and just let Discover do what it wants. It's interesting to read about the differing experiences with reporting though.
With Discover, you can actually contact their CSRs and request a manusl, off-cycle update to be made to your credit bureau reports.