Reply
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
0

When do CC's report balances

What point in the month do CC's report balances to the CRA's? Is there a standard or is it random?

Regular Contributor
Posts: 181
Registered: ‎04-21-2010
0

Re: When do CC's report balances

 

Depends on the CCC... some do it right after the statement cycles; other may report at the end of the month.

Current Scores (as of 04/22/13): EQ FICO=795; TU FICO =766; EX =763

BankAmericard Cash Rewards ($20,000) | Amex Platinum (NPSL) | Amex Clear ($20,000) | Amex Blue Cash ($2,500) | Chase Freedom ($11,000) | PenFed Platinum Cash Rewards ($5,000) | Barclaycard Apple ($5,000) | Discover More ($6,500) | BankAmericard Cash Rewards [Authorized User] ($15,000)
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: When do CC's report balances

Sometimes they are late or skip a month. 

 

If you post the bank name, someone here will know.

Regular Contributor
Posts: 175
Registered: ‎07-10-2010
0

Re: When do CC's report balances

Chase and Bank of America. Any help would be appreciated.

Regular Contributor
Posts: 165
Registered: ‎05-01-2010
0

Re: When do CC's report balances

BofA posts your balance on the day your statement ends.

___________________________________

EQ FAKO: 779 (03/26/15)
TU FAKO: 785(03/26/15)
Citi Double Cash | Citi Forward | BankAmericard Cash Rewards | Amex Zync
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
0

Re: When do CC's report balances

So if I want a low util % I should make a payment a few days before the statement period ends? I guess I could pay whatever has accrued until that point.

 

Does anyone know about Chase?

Moderator
Posts: 16,225
Registered: ‎07-14-2009
0

Re: When do CC's report balances

 


kal9988 wrote:

So if I want a low util % I should make a payment a few days before the statement period ends? I guess I could pay whatever has accrued until that point.

 

Does anyone know about Chase?


You are correct.

 

Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
0

Re: When do CC's report balances

Balances are reported to the CRAs the same day the new statement generates.  AMEX reportings lags by one month.  You have to watch BOA and Discover.  They sometimes will update your file with the CRAs twice.  I think they catch on to those who pay full balance before the new statement generates and then make charges right after. 

Regular Contributor
Posts: 165
Registered: ‎05-01-2010
0

Re: When do CC's report balances

BofA payments usually take a few days to post (at least for me when I pay via transfer). 

 

I usually make my payment 4 or 5 days before the statement closes just to be safe, and then I don't use the card until the statement period ends. I'm pretty certain than you can make a payment at 11:59 pm on the day your statement ends and still have it be reported as $0 to the CRAs, but I haven't tested this yet. I'm okay with not using the card for a few days each month just to be safe.

 

A good thing about BofA is that you can overpay and add a credit to your account (it will appear as a negative balance online). I usually do this when I have pending payments that the merchant hasn't punched through yet.

 

A credit to your account gets reported as a $0 balance to the CRAs so there's no confusion.

___________________________________

EQ FAKO: 779 (03/26/15)
TU FAKO: 785(03/26/15)
Citi Double Cash | Citi Forward | BankAmericard Cash Rewards | Amex Zync
Regular Contributor
Posts: 175
Registered: ‎07-10-2010
0

Re: When do CC's report balances

That's great news, thanks!

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.