REPORT DATE vs STATEMENT CLOSING DATE

[Slim1Der]

I'm confused. I made a spreadsheet with my CC accounts to track UTI and report/closing dates and here's what I found. 

BANK	LIMIT	USE	CLOSE DATE	REPORT DATE
NAVY FCU VISA	43000	0	20	20
NAVY FCU (NAVCHECK)	15000	19.7	15	1
NASA FCU VISA	25000	13369.29	23	24
NASA FCU VISA	20000	0		24
NASA FCU PLOC	5000	0	30	30
CITI(AU)	8700	4950	?
US AIRWAYS MASTERCARD	10000	1844	6	7
NFL VISA	2000	0	19	20
CAPITOL ONE QS MASTERCARD	2750	0	28	27
MACYS	2500	0	25	25
DELL	1500	0	16	30
JEROMES(SYNCRONY)	6600	0	29	29
			UTILIZATION
	142050	20182.99	14.21%

Some of my accounts look like they report on the same day that the statement closes? Is this right? Like the NFCU CC I checked the statement closing date was the 20th and on my EQ report, it says last reported on the 20th. Is it taking a month to report or reporting the same day. 

I'm trying to get everything high and tight so I know exactly when I can use what cards and when I need to pay them to report ZERO balances.

Thx for any input.

[Anonymous]

Yes, most banks report to the Credit Bureau on the night the statements are cut. But some banks seem to send out on month-end also.

That said - some banks consider the balances as of statement cut; but some might consider the balances at the end of payment due date.

It is a nightly process and due to timings of different processes run on the same night, the date that gets reported will just be 1 day apart.

[Slim1Der]

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@Anonymous wrote:

Yes, most banks report to the Credit Bureau on the night the statements are cut. But some banks seem to send out on month-end also.

That said - some banks consider the balances as of statement cut; but some might consider the balances at the end of payment due date.

It is a nightly process and due to timings of different processes run on the same night, the date that gets reported will just be 1 day apart.

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Thanks for the info! Another question, if the bank reports to all 3 CRA's, do they usually do it on the same day? 

[Anonymous]

Banks will need to have relationships with all the Credit Bureau to which they are reporting. They can choose to have relationship with only 1, 2 or all 3. For your question, yes - it will get reported to all the bureaus on the same day, since the file format [known as METRO 2] in which it needs to be reported is the same for all credit bureaus.

[Slim1Der]

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@Anonymous wrote:

Banks will need to have relationships with all the Credit Bureau to which they are reporting. They can choose to have relationship with only 1, 2 or all 3. For your question, yes - it will get reported to all the bureaus on the same day, since the file format [known as METRO 2] in which it needs to be reported is the same for all credit bureaus.

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Thanks for all the great info!!

[Anonymous]

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@Slim1Der wrote:

I'm confused. I made a spreadsheet with my CC accounts to track UTI and report/closing dates and here's what I found. 

BANK	LIMIT	USE	CLOSE DATE	REPORT DATE
NAVY FCU VISA	43000	0	20	20
NAVY FCU (NAVCHECK)	15000	19.7	15	1
NASA FCU VISA	25000	13369.29	23	24
NASA FCU VISA	20000	0		24
NASA FCU PLOC	5000	0	30	30
CITI(AU)	8700	4950	?
US AIRWAYS MASTERCARD	10000	1844	6	7
NFL VISA	2000	0	19	20
CAPITOL ONE QS MASTERCARD	2750	0	28	27
MACYS	2500	0	25	25
DELL	1500	0	16	30
JEROMES(SYNCRONY)	6600	0	29	29
			UTILIZATION
	142050	20182.99	14.21%

Some of my accounts look like they report on the same day that the statement closes? Is this right? Like the NFCU CC I checked the statement closing date was the 20th and on my EQ report, it says last reported on the 20th. Is it taking a month to report or reporting the same day. 

I'm trying to get everything high and tight so I know exactly when I can use what cards and when I need to pay them to report ZERO balances.

Thx for any input.

---

Your Cap1 QS reports before it closes?

[Slim1Der]

No it closes on the 28th and reports 30 days later

[Anonymous]

Ah, gotcha!