I am seriously confused by why a sudden mid-cycle reporting 12 days before my next statement.
Received alerts today that KOHLS Charge/Cap1 reported a "balance increase" to all 3 CRA's...12 days before my statement cuts. My card util. went from 0% to 48%.
My statement isn't expected to cut until 8/21/17. No new statement today. No changed due date today. I don't understand...never happened before.
For the last 2 mos. my balance is reported at $0. I use the card and PIF every month before the new statement cuts. This mid-cycle report is not good if it's going to impact my credit score. So far CK -3 (Vantage). I assume MF will drop a few as well.
On 7/21 my last statement cut with my balance of $0. On 8/2 I bought my son a few things for school. By 8/9 I receive "balance increase" alerts. As of today, TU, EQ, and EX all show "current balance" is no longer at $0.00 and now has a balance.
Payment History already updated "OK" for JUL just 2-wks ago...now 8/17 is already updated to "OK" too. My spending is about the same it usually is this time of month...maybe even less.
Can someone explain to me why this happens? Is there any way to prevent this? Should I expect KOHLS to skip updating for AUG. now when my cycle ends (8/21)?
Btw, It's not just the -3 pts I dislike, it's the util. increase at a time mid-cycle. I make sure the total util. reports significantly low every month (usually 1-3%). I am in rebuilding stages since Mar. 2017. Any loss in points very much matters. If patterns continue as they have been going my score will drop -3 pts and only gain +1 when KOHLS reports back at $0. I seem to lose points without doing anything. lol.
Already seeing the impact from Kohl's/Cap1's mid-cycle reporting.
EQ -7 pts and lowered credit step from Good to Fair. I like Kohl's discounts but not enough to lose 7 points out of the blue. I have been working hard to raise my credit score and improve my credit score. I feel like I am being penalized for giving Kohl's my business, well $$$.
Scores should rebound when a $0 balance reports