Capital One Not reporting $0 balance

[Poppa]

How long does it take them to report a $0 balance? DW paid off a few weeks before last statement was to cut and her credit report shows the balance from previous month still. No statement for Nov

[Poppa]

so this has never happened to anyone on this forum? 

[Anonymous]

Can you give the folks reading your thread some more information?  E.g....

    When did the last two statements print? 

    When did your wife make the payment that reduced the balance to $0?  Did she mail in a check or make the payment electronically?

    When did you last pull your credit reports?  Which bureaus?  What tool did you use to pull them?

            On the reports, when does it say that the account was last reported?

By the word "when" above I am looking for exact dates.

[driftless]

Cap One does not report a 0 balance mid-cycle, it will report on her normal statement date.

[Anonymous]

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@Poppa wrote:

How long does it take them to report a $0 balance? DW paid off a few weeks before last statement was to cut and her credit report shows the balance from previous month still. No statement for Nov

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Can you pull your credit reports from somewhere, like CCT?  Even if you check on CK, you'll see the "last reported" date on that CO account.  Generally, creditors report on the same day each month.  Maybe +/- 1 day.  So, whatever date you see that they last reported, assume the same date the following month is when they'll again report to the bureaus.

[driftless]

FWIW - my Cap One updates show up on myFICO ~ 3 days after the statement date.

[RobertEG]

One should not expect, particularly when dealing with a large corportation that has multiple departments, for all processing of a given action to be completed when received.

The payment was likely first sent to their finance department to get the $ in the bank, and then passed on to other hands for credit report updating processing.

It is normal for their to be delays as it passes through the gullet.

I would give it one more montly reporting cycle before taking any action, such as a dispute or complaint to the CFPB.

[Poppa]

Thank you all for the replies. Her statement cuts every month on the 28th except last month. No statement cut for November. Her last payment was electronic on Nov 19th bringing balance to $0. Credit Karma pulled and was updated yesterday has last reporting date as Oct 28th. 

[Anonymous]

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@Poppa wrote:

Thank you all for the replies. Her statement cuts every month on the 28th except last month. No statement cut for November. Her last payment was electronic on Nov 19th bringing balance to $0. Credit Karma pulled and was updated yesterday has last reporting date as Oct 28th. 

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@Anonymous Poppa.  Two things jumped out at me in your last post.  You wrote:

(1)  Her statement cuts every month on the 28th except last month. No statement cut for November.

(2)  Credit Karma pulled and was updated yesterday has last reporting date as Oct 28th

Are you deducing #1 from #2?

In other words, because the report pulled on Sat Dec 3 does not show the expected recent update (#2) you are infering that the issuer never produced her usual monthly statement (#1).

That's not a reliable inference.  If the issuer produced a stattement on Nov 28, and then sent an updated balance to the CRA on (say) the 29th,  it could take 10 days or more before it finally appeared on that CRA's report. 

Even if your wife were to access her Cap One account online, it might take up to three business days before the statement would appear on the issuer's online portal.  (I have seen issuer's take that long, though I have no direct experience with Cap One.)  Does your wife have paperless billing set up?  Has she logged on to her Cap One online portal to see if the statement is there yet?

[Poppa]

Her online paperless statement has been one day after the cut date before.Monday was the 28th and still by Friday her online account shows no statement yet. The CRA's I can understand being late on info.