Hey all...
Just a quick question. I have several cards, some I use monthly, others I don't. The ones I DO use, I pif all but ONE card, and let that report 1%. My question is this...If all my cards EXCEPT ONE, are paid to $0 bal before the statement cuts, it shouldn't matter when they actually report to the CRA right??? I make sure all are at $0 but one card well before statements cuts. as long as one card reports a balance of less than 9% I don't really need to know when exactly they report right???? Thanks
As a general rule, so long as the statement closes with a $0 balance, that's what will report. It doesn't matter when it reports, but it's usually a couple ot a few days after the statement closes.
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Thank you tinuviel!!! That's what I thought, but just wanted to make sure! I don't use my cards at least a week before statement cuts to make all charges and payments have posted before the statement cuts
Generally, paying before the statement cuts will carry over to the CRAs. There are some lenders that report monthly, IIRC, US Bank and DCU report the balance monthly.
Just a heads up also. I used my Chase Freedom as my reporting card in Dec. as it has the latest reporting date of any of my cards in a month. I let $40 report on the statement and paid it off the very next day. When Chase repoorted 2-3 days later, they reported the zero balance. My credit score actually dropped 7 points will all cards reporting 0. Just food for consideration.
