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I've found that credit card companies usually report about a week after the statement closing date. Most of the time it''s within 5 days. One of my Barclay cards closed on Oct 23rd and as of today (2 weeks later), my reports haven't updated. It usually wouldn't matter to me but I sometimes swap cards that report. I did that this month so now there is an extra card reporting a balance.
Has anyone else noticed that it took a few weeks for their reports to be updated after a statement closed?
Somewhat similar situation as yours. My AMEX BCP was approved on Sept. 29th. First statement was cut on Oct. 28. I had intentionally left about $26 balance on the card (due date is 11/22). However this card is not even reported yet on any of the CBs as of this writing. My other cards all have $0.00 balace reported. If AMEX BCP would not be reported soon, my score would take some hit (as all other credit cards would have $0.00 balance). As a thumb of rule you should have $0.00 balance on all your credit cards but one when statement cuts to get optimal FICO score.
@masscredit wrote:I've found that credit card companies usually report about a week after the statement closing date. Most of the time it''s within 5 days. One of my Barclay cards closed on Oct 23rd and as of today (2 weeks later), my reports haven't updated. It usually wouldn't matter to me but I sometimes swap cards that report. I did that this month so now there is an extra card reporting a balance.
Has anyone else noticed that it took a few weeks for their reports to be updated after a statement closed?
The practice among banks is not standard.
For example, Discover took a very long time (1.5 months) to generate the first statement and then report. They again do not report in the month that they gave me a CLI. People on these forums say you could contact CSR and ask for mid-cycle reporting.
US Bank generally reports not on the statement date but on the month-end. But for my new card they reported the new line even before I received the physical card.
Most of my other cards report within a day or two of the statement getting generated. But it is not rare to hear on this board that the first report has happened after two billing cycles (Diner's club for e.g.).