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As an FYI, saw on my monitoring that my Orchard card that converted to Cap One is now reporting on a different date and not statement balance. Just a heads up to those that PIF prior to due date may not like what they see this month.
Not sure if this is a conversion issue or something different that I need to manage on a go-forward basis.
I actually called Capital One about this yesterday and spoke to them for approx 30-45 min. They could not come up with the root cause as to why these transferred cards from HSBC reported on the 13th this month, but said something got out of sequence compared to their typical reporting procedures to the CBs. I took a hit, since I PIF every month, but on the 13th I was at 70% utilization......my FICO score took a nice hit.
They said the card should go back to its normal reporting cycle next month, as it has in the past. Report after the statement is cut.
Either way, I"m going to pay next month by the 13th. Just to be sure.
Makes sense. Thanks for doing the research Fairclok. I rarely use the card and the one time I do, it reports on a date different date and not my statement balance
Go figure...sounds like its going to be cleaned up next month...
Happened to me too! I always pay on the 15th in full, with a 18th due date. The last few months I've only used the card for myFico membership of $5.38. On the 13th they reported a $5 balance and a $25 monthly payment. I've spent two days on the phone with Capital One and Experian to fiugre out why my monthly payment is more than my balance. I can forgive them for the mid-month reporting as long as it doesn't happen again.
I also changed myFico subscription to my Freedom card, just in case Capital One pulls the same stunt next month.
Just got an alert...my Household card that usually reports on the 2nd or 3rd just reported.
Thankfully, the balance was lower than it usually is. Hopefully it'll go back to normal next month.