Statement question

[Anonymous]

If i pay on the statement date and it goes thru on the statement date what will  be reported to the CRA. The balance before payment or the balance after payment?

[Uborrow-Upay]

I believe the balance after the payment is made is the one that's reported.  Assuming, of course, that the payment was made on the statement date before the payment cutoff time for that card (2 PM, 5PM, whatever your card uses). 

Weekend statement dates, I presume, would most likely reflect your statement-day payment as being made on the following normal business day, so the balance before payment would be reported in that instance.

Comments from the credit gurus, please? 

[MattH]

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@Uborrow-Upay wrote:

I believe the balance after the payment is made is the one that's reported.  Assuming, of course, that the payment was made on the statement date before the payment cutoff time for that card (2 PM, 5PM, whatever your card uses). 

Weekend statement dates, I presume, would most likely reflect your statement-day payment as being made on the following normal business day, so the balance before payment would be reported in that instance.

Comments from the credit gurus, please? 

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Depends on the CC company, I have heard they vary a little, but for all of mine the same exact number will appear as the total balance on the statement and get reported to the CRAs.  For a payment that arrives on statement day I suppose it would depend whether the check arrives before or after the statement is printed (or uploaded to the web site if the customer does not get paper statements).

[Anonymous]

While thanks for the info.

Its not a big deal i sent the 450 before i got paid angain and know it won't let me send more money until the day of the statement.