Does Cap1 report to CRA's....

[cobbson]

in a month where the only activity was a payment to reduce balance and a couple of dollars interest? Also, what is the general rule on this question for other banks?

Thanks

[jamie123]

Yes, Cap1 will report that to all three bureaus because it caused a balance change.Most all other CC companies that I know of would be the same.

GE cards like Walmart do not generate a monthly invoice if the balance is zero. GE seems to like it if you let a few dollars report every month. Say if you used the Walmart card several times and ran the balance up to $150 but paid it off before a statement was generated, they won't generate a statement for that month and won't report anything to the credit bureaus.

[cobbson]

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@jamie123 wrote:

Yes, Cap1 will report that to all three bureaus because it caused a balance change.Most all other CC companies that I know of would be the same.

GE cards like Walmart do not generate a monthly invoice if the balance is zero. GE seems to like it if you let a few dollars report every month. Say if you used the Walmart card several times and ran the balance up to $150 but paid it off before a statement was generated, they won't generate a statement for that month and won't report anything to the credit bureaus.

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Thanks for the heads up.