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Established Contributor
andre181
Posts: 628
Registered: ‎07-29-2010
0

US Bank reported mid-statement after large purchase

I just checked my EX report and noticed that US Bank reported early showing a balance of $268 after I made a purchase at Best Buy. Statement doesn't close until May 19.

 

I'm not worried as my util is still very low. With almost 100k in limits, PIF before the statement closes is not really necessary for me anymore. But its just annoying that they are starting to do this. 

Discover IT $25K | FNBO Visa $22K | Citi Forward $14.5K | US Bank Cash+ Visa Sig $15K | Priceline/Barclays $10K | Chase Freedom $10.5K | Amazon/Chase Visa Sig $8.3k | Citi Double Cash $6.5K | BoA Cash Rewards 1-2-3 Sig $7.5K | Sallie Mae World MC/Barclays $5K | Capital One Cash Rewards $5K | Commerce Bank $5K | WF Cash Back Visa $3.6K | Amazon/GEMB $2.5K | Younkers/Comenity $2.4K | AMEX BCE $2K Target $1K | AMEX Green
EX FICO (from AMEX): 754, TU08 FICO (from Discover): 755, AAoA: 3.6 years
Established Contributor
KIPPIE12
Posts: 620
Registered: ‎05-09-2009
0

Re: US Bank reported mid-statement after large purchase

The very same thing happened to me with BOA.  Seems a little sneaky, but they can do it.  Maybe a new tactic from the larger issuers, mid-cycle reporting?

Current Score: EQ: 807 TU: 811 EX: 813 (Fico) 8/14
Goal Scores: 760 Across all 3-Finally


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Established Contributor
ztnjpv
Posts: 734
Registered: ‎02-01-2012
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Re: US Bank reported mid-statement after large purchase

[ Edited ]

I went thru this with US Bank over the phone. I was a learning exdperience for the CSR as well since she was totally unaware of these little details. From what I could gather, my Cash + reports around the 2nd of the month (whatever the balance is around 6 or 7 or 8 pm CST) whereas my statement closes around the 7th. 

 

Plan ahead...

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Super Contributor
longtimelurker
Posts: 8,153
Registered: ‎04-22-2013
0

Re: US Bank reported mid-statement after large purchase

Yes, this isn't new for US Bank.  Frequently mentioned as one of the exceptions who report mid cycle.

Senior Contributor
drkaje
Posts: 3,491
Registered: ‎07-25-2008
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Re: US Bank reported mid-statement after large purchase


ztnjpv wrote:

I went thru this with US Bank over the phone. I was a learning exdperience for the CSR as well since she was totally unaware of these little details. From what I could gather, my Cash + reports around the 2nd of the month (whatever the balance is around 6 or 7 or 8 pm CST) whereas my statement closes around the 7th. 

 

Plan ahead...


They're pretty smart and probably figured doing that will speed up cash flow from their more educated cardholders.

 


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Valued Contributor
jamesdwi
Posts: 1,970
Registered: ‎09-16-2011
0

Re: US Bank reported mid-statement after large purchase

Did the Best Buy purchase post first?  Does anyone consider $268 a large purchase if you have a 10k CL?  Its about 3/10ths of a percent of your CL. I would have to think its more of an a random occurance at that level of spending vs your CL.

 

 

 


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Established Contributor
andre181
Posts: 628
Registered: ‎07-29-2010
0

Re: US Bank reported mid-statement after large purchase

I'm a pretty frugal person so this was a somewhat large purchase compared to my normal spending on this card. This was easily in the top 5 largest purchases that have gone on this card.

Discover IT $25K | FNBO Visa $22K | Citi Forward $14.5K | US Bank Cash+ Visa Sig $15K | Priceline/Barclays $10K | Chase Freedom $10.5K | Amazon/Chase Visa Sig $8.3k | Citi Double Cash $6.5K | BoA Cash Rewards 1-2-3 Sig $7.5K | Sallie Mae World MC/Barclays $5K | Capital One Cash Rewards $5K | Commerce Bank $5K | WF Cash Back Visa $3.6K | Amazon/GEMB $2.5K | Younkers/Comenity $2.4K | AMEX BCE $2K Target $1K | AMEX Green
EX FICO (from AMEX): 754, TU08 FICO (from Discover): 755, AAoA: 3.6 years
Established Contributor
CribDuchess
Posts: 659
Registered: ‎09-12-2011
0

Re: US Bank reported mid-statement after large purchase

Wow, this is something I did not expect to be reading!  Thank you for sharing!  So far they have not done this to me (knocking on wood).  I have made some rather large purchases in the past, such as a new furnace that was almost $4,000.  They have only reported my balance as of the last business day each month and they have been very consistent with this practice thus far.  Now I'm getting nervous!

FICOs: TU08 841 10/6/14 per Wally; TU98 800 4/8/14; EQ04 769 6/8/14; EQ08 800 11/8/14; EX 805 6/12/14 per MyFICO

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Valued Contributor
Dustink
Posts: 3,097
Registered: ‎10-02-2012
0

Re: US Bank reported mid-statement after large purchase

Mine seem to report around the due date instead of the statement date.

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Regular Contributor
noobody
Posts: 221
Registered: ‎06-21-2012
0

Re: US Bank reported mid-statement after large purchase

it has nothing to do with "large" purchase

 

nothing to do with due date or statement closing date either

 

they report account status on last bussiness day of each month, it is different than most other banks

 

if you want them to report low balance, pay off before end of month, regardless when the statement close.


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