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Is a high balance on a credit report determined by amounts reported at the statement cut time or will a mid cycle high balance that is paid down prior to statement cut time still be reported? Thanks
@Marcos8 wrote:Is a high balance on a credit report determined by amounts reported at the statement cut time or will a mid cycle high balance that is paid down prior to statement cut time still be reported? Thanks
Normally it is the highest balance you've ever had on that account. I know for a fact Cap1 Chase and my Bank of America card all report the high balance regardless of what the statement balance is. It is a good thing as it shows other lenders you can pay it back withou issues.
@Marcos8 wrote:Is a high balance on a credit report determined by amounts reported at the statement cut time or will a mid cycle high balance that is paid down prior to statement cut time still be reported? Thanks
All the high balances I have listed on my credit reports (for all CRAs) are associated with statement postings for every card. The CRAs all list the same HB values on a per card basis. Many of the HBs shown are from quite a few years back.
Does anyone know in regards to AMEX? My current balance on my AMEX PRG is like $1300 and statement closes on the 24th. I'm trying to decide whether to pay it off now or wait until statement cuts so it will report the high balance as such? (So I can show I have the ability to repay)
So, my question is - does AMEX report the highest balance you've had or do they report the statement balance? Thx!
Thanks noobody. Appreciate your input. Does anyone have any experience with AMEX doing this?
@OmarGB9 wrote:
Amex reports highest statement balance ever for high balance.
Thanks Omar!