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Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007
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Credit Card Reporting Dates

Hello Everyone,

I'd like to see if we can put together a little list here of Credit Card Reporting Dates--you know, the Reporting Date is not your credit card Statement date, but the date that the Credit Card Companies report to the three Credit Agencies--Transunion, Equifax, and Experian. I will start by listing three Credit Card companies which I have cards with and the dates they report to the Credit Agencies. I would much appreciate people adding info. The info I am listing I have verified with several employees at each Card company.

Orchard Bank (HSBC)--Reports Credit Limit, Reports Balance the Last Thursday of every month.

Capital One -- Does not report credit limit ("but will start to by end of this year"). Reports High Balance and Balance on the Last Day of Every Month.

American Express -- Reports Credit Limit (green, gold, platinum and black cards do not report limit). Reports balance on the 16th of every month.

Ideally, we should all make sure we are utilizing less then 10% of our credit limits, and that our good behavior is reported to the agencies at the right time. I've been doing this for the past 3 months and my score has climbed. Note that each of those companies has a different system. If we properly understand the system, we can work it to our best advantage.
Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
0

Re: Credit Card Reporting Dates



rifleman wrote:


I'd like to see if we can put together a little list here of Credit Card Reporting Dates--you know, the Reporting Date is not your credit card Statement date, but the date that the Credit Card Companies report to the three Credit Agencies--Transunion, Equifax, and Experian.


I don't actually care when they report, it is what thay report.  All of mine report the statement balance - so the actual date that is reported does not matter.  If I want to keep util down, it is my personal statement date that matters, and I have been monitoring those and have actually altered one so that I can partially pay off before the statement date.
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007
0

Re: Credit Card Reporting Dates

correct--I should have titled this thread:
"When and What the Credit card companies report"

It's important to know both things--it can be hard to get to the bottom of it, because most employees don't know the answers and you frequently need to speak with a supervisor to get the right info
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
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Re: Credit Card Reporting Dates

[ Edited ]
All my cc's report with in 10 days of closing dates.

This is just for me. Probably different for everyone.
B of America 5th
Citi 7th
Chase 4th
Amex 18th
Discover 8th
I lost track of my other cards. They all report between the 5th and 10th except amex who reports on the 18th. It varies month to month. EX post updates right away, EQ and TU are slower.

They all report past bal, recent payment, history, cl, minimum due. Citi however doesn't report payment amount just bal for me.

Message Edited by ilovepizza on 06-25-2007 10:46 AM
If we never set higher goals we would never get as far.
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Super Contributor
MidnightVoice
Posts: 8,161
Registered: ‎03-25-2007
0

Re: Credit Card Reporting Dates



rifleman wrote:
correct--I should have titled this thread:
"When and What the Credit card companies report"

It's important to know both things--it can be hard to get to the bottom of it, because most employees don't know the answers and you frequently need to speak with a supervisor to get the right info

During my month of Truecredit I worked it out  :smileyhappy:  And they reported the statement balance in every case, even if they had recieved money after the statement and before they reported.
 
It is the easiest way for the computer to do it  :smileyhappy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
New Contributor
Sillygirl
Posts: 60
Registered: ‎05-30-2007
0

Re: Credit Card Reporting Dates

Capital One reported on 6/19 for my account, which is also the statement closing date.
New Contributor
jandj
Posts: 66
Registered: ‎04-17-2007
0

Re: Credit Card Reporting Dates

So for those of you that are established AMEX users, are you able to pay off the balance of your card before the statement date so that a high balance is not reported?  Please see my post way down below, I'm confused about why I can't make a payment and now I'm worried I'm going to have a major ding on my report.
Established Contributor
rifleman
Posts: 565
Registered: ‎06-11-2007
0

Re: Credit Card Reporting Dates

The customer service reps @ AMEX told me that all account report on the 16th of the month, and they report the balance of the account on that day--not the balance during your statement.
New Contributor
jandj
Posts: 66
Registered: ‎04-17-2007
0

Re: Credit Card Reporting Dates

Thank you so much for your help, that's what I was hoping to hear!
Member
wingwalker
Posts: 6
Registered: ‎04-28-2007
0

Re: Credit Card Reporting Dates

I've made a minor study of this during the past few months, after getting burned on util, esp. by HSBC. The Amex reporting date is actually the last business day of each month, but they report the statement balance from whenever your statement closes (in my case, between the 19-21st).
 
Orchard reports the last business day of the month, BUT you have to pay it down the morning BEFORE that date. This reporting date is irrespective of the actual closing date (mine is the 4th and 8th, respectively).
 
However, HSBC reports the closing balance from the statement date for former Direct Merchants Bank MC, and doesn't follow the Orchard formula (yet).
 
USBank (for me, Harley-Davidson Visa) follows the same formula as Orchard - reports the balance as it stands the last business day of the month, but you have to pay it down the day before that. In my case, too, I got a CLI on the statement date, but it didn't reflect on my report till the next month. (Double burn)
 
Cap1 reports the statement closing balance, which is also the due date (except for last month, when they adjusted it out five days, really screwing up my util because I didn't ask about the closing date. I Assumed.)
 
Merrick Bank and Hooters also reports the balance the last business day of the month, and pay it the day before for it to count. Merrick also can hold the available funds unless you call them to verify with the bank that the payment cleared. Some banks won't do this in the 800-call center, but your branch probably will on a conference call.
 
WAMU has a very short due date to closing date cycle, usually two to three days max, but they report right away.
 
State Farm Visa, for me closes on the 26th each month, but for the payment to count, you have to phone it in. Web payments may post later.
 
Citi is wonderful. They tell you the closing date on the statement, and the time by which the payment must be made.
 
Juniper is screwy. If you make two payments in the month, the second will probably be posted but the funds held for up to 10 days unless you pay by Western Union, a handy thing if you really need the balance down but may need the $$ soon thereafter.
 
USAA reports the statement balance a day or two afterwards, but you need to check when the statement closes and be sure to pay it at least the day before.
 
That's what I've learned so far, at times at some cost to my score. I keep a calendar now of due dates, pay-by dates and closing dates. Cap 1 kept me from a really low util this month. Phbbt.

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