QUICK!! Does US Bank report CURRENT or STATEMENT balance?

[racer-x]

I need to know ASAP if US Bank reports current balances or statement balances?

I know they report at the end of the month.  A supervisor in UW had to ask somebody else 'cause she didn't know.

She came back and told me they report the current balance....for some reason, she sounded uncertain when I asked AGAIN, if it was the CURRENT STATEMENT BALANCE or the CURRENT BALANCE that is on the account 2 secs before it is sent to the CRA's.

Anybody?, thank you!!!

[longtimelurker]

They report the current balance, not statement balance.   

[racer-x]

Longtime - Positive?  I'm about to be done with this PLOC.

[Anonymous]

US Bank reports my statement balance, but does so on the last business day of the month. (My statement closes on the 13th). So its over half the month from close to report

[gmason]

In my household, I have a Cash+ and DW has a Cash Rewards (old Sierra Trading Post card). I always let the statement cut with a balance (if we've used the cards) and then pay to 0 before end of the month, and I always show 0 balance on the credit reports. As far as I can tell, US Bank uses whatever your balance is on the last day of the month.

[Anonymous]

+1. They report current balance on the last day of the month. One of the few banks that does not report statement balance

[racer-x]

Wow, UW just called me back, the same one that I felt was uncertain about the info she gave me.

She made some more calls and came back with this....

US BANK REPORTS TO THE CRA'S THE HIGHEST BALANCE DURING THE CREDIT/MONTHLY CYCLE ON THE 1ST FRIDAY OF THE MONTH.

I told her if that's the case, then the only way to get a $0 balance on an account would be to NOT USE the card for a month.  She said, uh yeah, I guess that's right.

That cannot be right.  She is going to call me back if she finds anymore conflicting information. 

Could this be a new 2015 policy, and since it's the lst month of the year, nobody has seen this happen yet?

Is this question really that hard even for a supervisor in UW that deals with the PLOC accounts specifically? wowowowowowowowowowowowow

[longtimelurker]

I just checked some old statements and CRs and it is definitely not reporting statement balance.

[gmason]

We just went through the mortgage process last September and I watched US Bank balances on the CRs like a hawk. We used the Cash+ like crazy for restaurants and paid by end of the month and showed 0 every month last year on the credit reports. In some ways, US Bank was the easiest card for me to keep clear on the CRs since we just didn't charge restaurants after the 20th of the month (or thereabouts) each month. I monitored reports almost daily (as needed) through EIDT for most of last year. Mortgage process was a breeze since I knew exactly what was on my CRs at all times. (Thanks myfico forums for some badly needed education).

[Anonymous]

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@longtimelurker wrote:

I just checked some old statements and CRs and it is definitely not reporting statement balance.

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I did the same, and mine is showing statement balance, but mine is a HD secured. They also show the total of my payments for the month on my report. They are the only company that does that on my reports. So perhaps it is different by product?