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quarius
Posts: 139
Registered: ‎08-18-2012
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Help with Bank of America issue!!!

I have a Mets BOA card with a limit of $2400. The closing date this month was the 24th so i paid $1600 on my card bringing it down to $600, they report my balance as $600 which is fine. So i wait until my statement posts on my account for the next month to start using it again, then i get an email today saying my balance increased on my fico. I checked it out and they reported again a few days after with a higher balance of $1200 now, so it shows an increase of $500. What the hell is this reporting 2 times in the course of 5days??? Also i pay it down and use it after the closing date right now because im trying to apply for some card and cli's this month on some cards. I tryed to call and of course the department is closed today and i have to wait until monday. 

I need some help or info as to what or why this happened please, im so upset about this.

{NFCU-25k}{Saphire-15k}{Duck-15k}{BOA-12k}{DCU-10k}{Slate-7200}{Simplicity-$7200}{USAA-6k}{DiscoverIT-5k}{CitiTY-$4100}{AmexBCE-$3500}{Venture-$3000}{WalmartDisc-$2600}{Merrick-$1200}{AmazonVisa-$1650}{Cap1-$600}
1/1/14 [Experian-Fico 747][TU-Fico744][Equifax-Fico766]
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Help with Bank of America issue!!!


quarius wrote:

I have a Mets BOA card with a limit of $2400. The closing date this month was the 24th so i paid $1600 on my card bringing it down to $600, they report my balance as $600 which is fine. So i wait until my statement posts on my account for the next month to start using it again, then i get an email today saying my balance increased on my fico. I checked it out and they reported again a few days after with a higher balance of $1200 now, so it shows an increase of $500. What the hell is this reporting 2 times in the course of 5days??? Also i pay it down and use it after the closing date right now because im trying to apply for some card and cli's this month on some cards. I tryed to call and of course the department is closed today and i have to wait until monday. 

I need some help or info as to what or why this happened please, im so upset about this.


Sometimes creditors do this if you make large transactions soon after statement closing date. A "mid cycle update". No idea why they would do it.  Only thing you reallt can do is call when they're open and see if they can fix it.

 




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Valued Contributor
SnackTrader
Posts: 1,566
Registered: ‎09-15-2012
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Re: Help with Bank of America issue!!!

It doesn't sound like they were inaccurate with their reporting, they simply chose to report multiple times during your billing cycle.  Your best bet might be to pay down the balance and call to ask for another update.  But even then, nothing is guaranteed.  You may have to wait until next month to apply for those cards if you think your utilization is too high.

 

Good Luck!


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jsickz32
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Registered: ‎06-25-2012
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Re: Help with Bank of America issue!!!

Question to op...you said your statement date was 24th right? So when u started using your card again?
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quarius
Posts: 139
Registered: ‎08-18-2012
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Re: Help with Bank of America issue!!!


jsickz32 wrote:
Question to op...you said your statement date was 24th right? So when u started using your card again?

My statement closing date for this month was the 24th. I started using my card i believe the next day of after that but i made sure the new billing cycle was on my account before i started using it. I just can't believe they would pull a stunt like this since ive been with them since 05'  and im also trying to get higher credit.

{NFCU-25k}{Saphire-15k}{Duck-15k}{BOA-12k}{DCU-10k}{Slate-7200}{Simplicity-$7200}{USAA-6k}{DiscoverIT-5k}{CitiTY-$4100}{AmexBCE-$3500}{Venture-$3000}{WalmartDisc-$2600}{Merrick-$1200}{AmazonVisa-$1650}{Cap1-$600}
1/1/14 [Experian-Fico 747][TU-Fico744][Equifax-Fico766]
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jsickz32
Posts: 1,987
Registered: ‎06-25-2012
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Re: Help with Bank of America issue!!!


quarius wrote:

jsickz32 wrote:
Question to op...you said your statement date was 24th right? So when u started using your card again?

My statement closing date for this month was the 24th. I started using my card i believe the next day of after that but i made sure the new billing cycle was on my account before i started using it. I just can't believe they would pull a stunt like this since ive been with them since 05'  and im also trying to get higher credit.


the statement date for my bofa cash rewards is also on the 24th of every month but i wait until the 26th to start using it again cuz even tho it says the 24th i dont get my rewards until the 25th so i just wait one more day just to make sure.

Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Help with Bank of America issue!!!


quarius wrote:

jsickz32 wrote:
Question to op...you said your statement date was 24th right? So when u started using your card again?

My statement closing date for this month was the 24th. I started using my card i believe the next day of after that but i made sure the new billing cycle was on my account before i started using it. I just can't believe they would pull a stunt like this since ive been with them since 05'  and im also trying to get higher credit.


I would be calling in and speaking with a supervisor. Maybe that can get them to do a manual update.

 




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Established Contributor
jamie123
Posts: 772
Registered: ‎03-22-2012
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Re: Help with Bank of America issue!!!

Lenders are kind of squirrelly about this. I have found that the balance they report is from the payment due date to the payment due date plus 3 to 4 days. If you use your card in those 3 to 4 days after the payment due date they will report the higher balance.

 

I kow from experience, they have screwed me a few times also. You just can't use your card for those few days after the payment due date.



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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Help with Bank of America issue!!!


jamie123 wrote:

Lenders are kind of squirrelly about this. I have found that the balance they report is from the payment due date to the payment due date plus 3 to 4 days. If you use your card in those 3 to 4 days after the payment due date they will report the higher balance.

 

I kow from experience, they have screwed me a few times also. You just can't use your card for those few days after the payment due date.


You mean statement closing date right?

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Contributor
quarius
Posts: 139
Registered: ‎08-18-2012
0

Re: Help with Bank of America issue!!!


jsickz32 wrote:

quarius wrote:

jsickz32 wrote:
Question to op...you said your statement date was 24th right? So when u started using your card again?

My statement closing date for this month was the 24th. I started using my card i believe the next day of after that but i made sure the new billing cycle was on my account before i started using it. I just can't believe they would pull a stunt like this since ive been with them since 05'  and im also trying to get higher credit.


the statement date for my bofa cash rewards is also on the 24th of every month but i wait until the 26th to start using it again cuz even tho it says the 24th i dont get my rewards until the 25th so i just wait one more day just to make sure.


I hope your understanding me they reported 2 times this month once for the $600 balance which was the amount after i paid it and today which the balance today is showing $1200. I actually paid more down this month than last month last month my reported balance was $1250 and this month i wanted only $600 showing for better util. For some strange reason they reported 5 days within each other this month, i have never had this happen with any of my cards. If i wanted a certain balance to show on my report i would pay it then wait to use it until my new statement comes up for the following month, but for some strange reason the decided to screw me with this this month especially i wanted to go on a spree within the next few weeks. Im so mad i can't even begin to tell u, as i have been going out of my way these past few months to lower my util.

{NFCU-25k}{Saphire-15k}{Duck-15k}{BOA-12k}{DCU-10k}{Slate-7200}{Simplicity-$7200}{USAA-6k}{DiscoverIT-5k}{CitiTY-$4100}{AmexBCE-$3500}{Venture-$3000}{WalmartDisc-$2600}{Merrick-$1200}{AmazonVisa-$1650}{Cap1-$600}
1/1/14 [Experian-Fico 747][TU-Fico744][Equifax-Fico766]

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