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Valued Member
Posts: 109
Registered: ‎05-11-2012
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Statement Cut off date

This is probably a stupid question, but I want some confirmation.  Statement cut off date is the date they report to your credit bureau's?

 

 

 

 


Starting Score: 515 April 2011
Current Score: (AMEX Credit Secure) EX 627 EQ 627 TU 627
7/19/2012
Goal Score: 700+


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Contributor
Posts: 221
Registered: ‎07-11-2012
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Re: Statement Cut off date

Yes!  The statement cut off date is the date when after which the statement changes.  New transactions post to the new statement as opposed to old.  Itmay take a few days for the CRAs to be updated, but the information at end of day on statement cut off day is the information they will post.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Member
Posts: 109
Registered: ‎05-11-2012
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Re: Statement Cut off date

Thank you!


tboy1977 wrote:

Yes!  The statement cut off date is the date when after which the statement changes.  New transactions post to the new statement as opposed to old.  Itmay take a few days for the CRAs to be updated, but the information at end of day on statement cut off day is the information they will post.


 


Starting Score: 515 April 2011
Current Score: (AMEX Credit Secure) EX 627 EQ 627 TU 627
7/19/2012
Goal Score: 700+


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Senior Contributor
Posts: 3,067
Registered: ‎11-02-2009
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Re: Statement Cut off date

Slight clarification.  The balance listed on your statement is the balance that most CCs report to the CRAs.  They may not actually report that information to the CRAs until a few days after your statement closes.  And then there may be additional delay, as mentioned above, on the part of the CRA to update the information.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
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Re: Statement Cut off date

[ Edited ]

+1

 

Add example.  Payment on my Capital One bill is due 25th.  Statement cut off is the 28th (to allow time for payment to reach).  The statement closes after processing on the 28th.  So if Capital One receives a payment on 28th, it will post on current statement.  If after it will post on next statement.  If I charge something to my card on the 28th, if it doesn't post by end of day, it will be on next statement.

 

Back when I had a lessor paying job, I use to use the fact that my Navy Federal statement cuts on the 13th and CapOne on the 28th to my advantage with respect to CRAs.  In the beginning of the month, I'd use CapOne.  After making sure NavyFed was at a zero balance for statement, I'd use NavyFed and pay Capital One.  And repeat.  I kept cards at a ZERO balance on the credit report by working the statement cut-off dates.  But with Coke, I plan to use one card and just sock drawer the others

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Member
Posts: 40
Registered: ‎08-02-2012
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Re: Statement Cut off date

I actually have a question about his also, 

I have a C1 Credit card with my statement cut off day on 8th of month. My due date is on 5th of the month. Now lets say on my due date I have 30$ balance and I paid it off on the due date so I would not get any late charges. (PIF)... Now on the 8th it will report what to credit agencies. The balance of the 5th or current balance of what I purchased during the 3 day window between 5th and 8th?

 

Also, if I don't make any purchases during that window 5th-8th than what will it report to  CRA that I have 0 balance 0 UTI??

 

Thanks I just need clarification. 


Starting Score: EQ: 651 FICO TU: 615 FICO EX: 629 FAKO (08/06/2012)
Current Score: EQ: 684 FICO TU: 615 FICO EX: N/A FAKO
Goal Score: 760+ Across Board


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Re: Statement Cut off date

The pay off balance on statement cut off date.  If you have a $30 balance on the 5th and you pay it off on the seven or even eighth (before the statement actually cuts), a zero balance will be reported.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Member
Posts: 40
Registered: ‎08-02-2012
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Re: Statement Cut off date

Okay so on the 5th is my due date

 on the 8th is my statment cut off date

 

i will be PIF every time to show good payment. 

so my balance will always report as 0 and that won't help my UTI will it????

 

so what can i do purchase something between the 5th and the 8th?


Starting Score: EQ: 651 FICO TU: 615 FICO EX: 629 FAKO (08/06/2012)
Current Score: EQ: 684 FICO TU: 615 FICO EX: N/A FAKO
Goal Score: 760+ Across Board


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Re: Statement Cut off date

The jury is out on whether zero is better than a nominal utilization.  I like everything at zero (or near it).  If you purchase something between 5th and 8th, you don't know when the item will post to your statement.  Remember the statement cut off date is a HARD DATE.

Starting scores: EQ 420, EX 421, TU 405 (Jan 2011)
Bk Ch 7 Discharged Mar 2011
Current scores: EQ 456, EX 534, TU 411 (Aug 2012) FICO (8/2012 -- EQ 564, EX 584 (from BofA) TU 551)
Goal scores: EQ 700+, EX 700+, TU 700+

Credit accounts: 30% APR auto loan (Jan 2012), Secured [CapOne (3K), PNC (1300), NFCU (1K), Coke (2500)] and Target (200)
Valued Member
Posts: 40
Registered: ‎08-02-2012
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Re: Statement Cut off date

[ Edited ]

What do you mean by "Hard Date" and okay so if I am PIF then I won't have a a UTI on my credit report it will just show as zero!? I thought on the statement cut date it showed what the due date amount was and if you paid it off??


Starting Score: EQ: 651 FICO TU: 615 FICO EX: 629 FAKO (08/06/2012)
Current Score: EQ: 684 FICO TU: 615 FICO EX: N/A FAKO
Goal Score: 760+ Across Board


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