Chase reports when balance hits $0?

Anonymous · ‎06-29-2017

Is this still true? I read somewhere on here in the archives that Chase will report even if it is not the usual date right when the balance hits 0? My typical report date is the 15th, but it is my last card that I have to pay off and I can pay it right now if I wanted to. Just want to make sure it will report if I do that. I have never heard of that before.

Here is the other thread

http://ficoforums.myfico.com/t5/General-Credit-Topics/When-does-Chase-report/td-p/4475703

Anonymous · ‎06-29-2017

It's true! They reported a zero balance for me mid-cycle just recently on my Amazon Visa.

Anonymous · ‎06-29-2017

@Anonymous wrote:
It's true! They reported a zero balance for me mid-cycle just recently on my Amazon Visa.

Wow this is great! I wish other banks did this.

Did they still report on the usual date as well that month?

RobertEG · ‎06-29-2017

There is no statutory requirement that they do so.

The FCRA only mandates updated reporting be done "promptly" as necessary to reflect the current accuracy. FCRA 623(a)(2).

No immediate updating is required.

The next regular reporting cycle is generally considered to meet the promptness requirement.

They may have their own policy to do immediate updates when the balance reaches $0, but it is not mandated.

Anonymous · ‎06-29-2017

Every time you pay your chase card to zero it will report. Sometimes I pay my FU once a week and TU always let's me know I paid off a tradeline and it's always chase.

Anonymous · ‎06-29-2017

@Anonymous wrote:
Is this still true? I read somewhere on here in the archives that Chase will report even if it is not the usual date right when the balance hits 0? My typical report date is the 15th, but it is my last card that I have to pay off and I can pay it right now if I wanted to. Just want to make sure it will report if I do that. I have never heard of that before.

Here is the other thread

http://ficoforums.myfico.com/t5/General-Credit-Topics/When-does-Chase-report/td-p/4475703

Are you saying that if you were to pay off your Chase, then all your cards would be reporting $0? This will cause you to take a scoring penalty. You should always have one card reporting a small balance.

PS. The other folks are right. Chase will do a mid-cycle report if you pay it to zero.

Anonymous · ‎06-29-2017

@Anonymous wrote:
@Anonymous wrote:
Is this still true? I read somewhere on here in the archives that Chase will report even if it is not the usual date right when the balance hits 0? My typical report date is the 15th, but it is my last card that I have to pay off and I can pay it right now if I wanted to. Just want to make sure it will report if I do that. I have never heard of that before.

Here is the other thread

http://ficoforums.myfico.com/t5/General-Credit-Topics/When-does-Chase-report/td-p/4475703
Are you saying that if you were to pay off your Chase, then all your cards would be reporting $0? This will cause you to take a scoring penalty. You should always have one card reporting a small balance.

PS. The other folks are right. Chase will do a mid-cycle report if you pay it to zero.

I have both Home Depot and Lowes that have a little each on them, and some other tiny ones. So it won't be "0" technically but my UTI will be at about 3%.

Should I keep small balances on all of them (after I get the chase to report 0) or will just a few do the trick? I have like 12 accounts.

Anonymous · ‎06-29-2017

One will do the trick. It just needs to be a true credit card (not a charge card) and a card in your name (not an AU card).

Anonymous · ‎06-29-2017

@Anonymous wrote:
@Anonymous wrote:
It's true! They reported a zero balance for me mid-cycle just recently on my Amazon Visa.
Wow this is great! I wish other banks did this.

Did they still report on the usual date as well that month?

Yes, they did.

HeavenOhio · ‎06-30-2017

The only time Chase won't report the statement balance is if you pay to zero immediately after the statement cuts. In that case, they'll go straight to reporting zero.

If you need to have a Chase card continuously report a positive balance, make a small charge and let it post before paying the statement balance in full.