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Contributor
Posts: 87
Registered: ‎06-27-2009
0

When does BOFA report to CB?

Hi..if my payment due date for my Bofa CC is on Nov. 22, when can I expect the CB to receive a new updated(Lower!) balance? Is there a general rule

or is it different for each card and company? Any help will be appreciated.

Thanks!


03/12/14 Fico 698 EXP

Moderator Emeritus
Posts: 32,869
Registered: ‎08-04-2007
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Re: When does BOFA report to CB?

It varies from CC to CC. If your due date is the 22nd, then I bet your next statement will cut around the 28th, give or take a day. A good indicator is to look at last month's statement. They are fairly consistent per date. However, they did change mine recently and shortened the time between the due date and the statement date and moved my due date ahead by 1 week. YMMV.
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Community Leader
Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: When does BOFA report to CB?

BofA updates on the statement date, as do almost all CC's. When did your statement drop? I'm guessing that with a due date on the 22nd, it probably posted around 10/25 - 10/28 or so. Go online, click on your account name, and click on My Statements. There will be a drop-down list of recent statement dates, including your most recent.

BofA is still doing a range of dates, so you'll need to figure that the next statement will post November 25 - 28, or whatever the dates are that show on former statements.

In the future, if you want to use your cards but have lower (or $0) balances reporting, just pay online several days before the next statement is due.



llecs beat me to the post! I briefly locked myself out of my BofA account.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Frequent Contributor
Posts: 258
Registered: ‎06-03-2008
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Re: When does BOFA report to CB?

Wrong.  They changed the gap between 6-7 days to 2 days.  I have both a Visa and a MC with them, both are changed to a 2 day window.  It was so nice of them not to let me know of this change.  Thanks BofA.
Regular Contributor
Posts: 137
Registered: ‎05-14-2007
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Re: When does BOFA report to CB?

BoA always reports for me just after the statement cuts, with the statement balance (if any)

 

EXCEPT in December.  The last few years the buggers have been reporting mid-month in Dec., just when I'm doing my holiday shopping.  I've giving up trying not to show a balance at all in December if I use my BoA at all after the November statement cut. 

 

YMMV.

Contributor
Posts: 87
Registered: ‎06-27-2009
0

Re: When does BOFA report to CB?

Thanks so much for the info, appreciate it. I'm trying to get my util down, and this month, I went from a 286.00 balance on my CC

to 162.00. I know I need to get it lower, but I really made an effort the last two weeks.  


03/12/14 Fico 698 EXP

Valued Contributor
Posts: 2,682
Registered: ‎07-29-2009
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Re: When does BOFA report to CB?


fricnfrac1 wrote:

Thanks so much for the info, appreciate it. I'm trying to get my util down, and this month, I went from a 286.00 balance on my CC

to 162.00. I know I need to get it lower, but I really made an effort the last two weeks.  


You've done a good job. Keep working on lowering utilization, even if it is very gradual. One day you'll look back and will have surprised yourself.

 

I like to have my statements show a zero balance, too...but sometimes it gets a bit tricky. Things don't always post in a timely manner...credit card companies only accept so many payments within a certain timeframe, etc. Overall, try to manage it the best you can...but don't stress too much over it.

Valued Contributor
Posts: 1,754
Registered: ‎11-03-2007
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Re: When does BOFA report to CB?


LynetteM wrote:

fricnfrac1 wrote:

Thanks so much for the info, appreciate it. I'm trying to get my util down, and this month, I went from a 286.00 balance on my CC

to 162.00. I know I need to get it lower, but I really made an effort the last two weeks.  


You've done a good job. Keep working on lowering utilization, even if it is very gradual. One day you'll look back and will have surprised yourself.

 

I like to have my statements show a zero balance, too...but sometimes it gets a bit tricky. Things don't always post in a timely manner.Happens rarely..credit card companies only accept so many payments within a certain timeframe,Thats comletely wrong, you can push payment every day if you wish, I even happened to send payment twice a day. etc. Overall, try to manage it the best you can...but don't stress too much over it.


 

IN VINO VERITAS.
Senior Contributor
Posts: 4,923
Registered: ‎04-19-2009
0

Re: When does BOFA report to CB?

Actually:

  • Citi allows one payment per day and four payments per month,
  • Discover allows one payment every three days.
  • PenFed seems to allow as many as you can make once you are past the six months.
  • HSBC is a total mess.
Contributor
Posts: 78
Registered: ‎11-17-2009
0

Re: When does BOFA report to CB?


creditwherecreditisdue wrote:

Actually:

  • Citi allows one payment per day and four payments per month,
  • Discover allows one payment every three days.
  • PenFed seems to allow as many as you can make once you are past the six months.
  • HSBC is a total mess.

Haha!  I agree with the HSBC statement but from my experience, it's once every 3 days.  This could be different for everyone though LOL

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