why is my credit being "dinged"???

[haulingthescoreup]

It's easy to forget that you have two different groups to keep happy: the CCC, which is happy because you pay before the due date, and FICO, which is sad because your balance is being reported. A lot of the things that help your FICO scores are completely unrelated to what helps your relationship with your CCC.

Think of having two wives, or two husbands (yikes)

[Anonymous]

thanks!!!! If i'm paying before the statement date, I'm basically trying to pay the amount that is about to drop? So i have to basically count my expenses and pay that amount before the statement date??? (assuming the CCC reports to the CRA on the drop date...) what a pain in the neck..... it makes sense to me, but it is irritating that this has been recently been happening... has it always been this way?

[haulingthescoreup]

You can count your receipts, or you can go on-line and check your balance, which seems simpler to me! If you're trying to keep it absolutely at a $0 balance reporting, you'll have to stay on top of pending charges.

I guess it's always been going on to some extent. If you're that ideal imaginary customer with 4 cards from back in the day, who puts a tank of gas on one and a bouquet of flowers on another, and doesn't use the other two at all that month, it doesn't really matter. But if you're using your cards heavily, for convenience or points or cash-back, your report will definitely feel it! Changing trends in CC usage, I guess.

[Anonymous]

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@haulingthescoreup wrote:
You can count your receipts, or you can go on-line and check your balance, which seems simpler to me! If you're trying to keep it absolutely at a $0 balance reporting, you'll have to stay on top of pending charges.

I guess it's always been going on to some extent. If you're that ideal imaginary customer with 4 cards from back in the day, who puts a tank of gas on one and a bouquet of flowers on another, and doesn't use the other two at all that month, it doesn't really matter. But if you're using your cards heavily, for convenience or points or cash-back, your report will definitely feel it! Changing trends in CC usage, I guess.

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thanks for the post!!!!! +12398572935734 for you!

[Anonymous]

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@Anonymous wrote:

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@haulingthescoreup wrote:

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@Anonymous wrote:

i called my credit card agency...

they claim not to know when the report, just "every 30 days."

wth??????

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Well, that's just pitiful. You can request to talk with a supervisor, and try to get it from them. I assure you, they do know when they report. If that doesn't work, then go on to plan B. I just checked, and even the reports that I pulled directly from EX and TU didn't show day of the month, BUT the reports that I get via TrueCredit do, including for EX and TU. How weird is that? So check any reports you have lying around and see if any of them show xx/xx/2007, not just month/ year. If you can't find it there, then it's plan C: keep track of your balances on line (write them down), and the next time a balance posts, see if you can match it with a date or dates. Another poster paid her balance down $1/ day, writing down each day's balance, and nailed it that way. I am lost in admiration--I could never maintain a train of thought that long. Again, be aware that sometimes an account will post on the 5th, then next month the 8th, then the 4th, etc. If all else fails, pull up your accounts online every payday, and make a payment then. At least it will be less than what was reported before.

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well i schedule my payments to be made on or 1-2 days before the due date on the statement for the ENTIRE balance... Some CCC's tell me they report every 30 days, which eventually always changes the date that they report. there isn't a set date. i'm going to talk to the credit dept at amex tomorrow and see what they say. they won't even talk to me without a current report in hand. This pull would be a soft hit right? best place to pull a report??? i think i already did the free once a year one.

Message Edited by chbak014 on 10-17-2007 02:17 PM

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Ahhh... did you say AMEX?   They report my statement balance from the month before.  In other words I received a statement 9-16  and paid it.  My new statement just fell today, however they just reported the balance for the 9-16 statement a couple days ago.  I don't have any other CC's that report a month behind except them.

[Anonymous]

now why would they report a balance increase that has already been paid????? unnecessary dinging of score. is this noob (me) making sense??

Message Edited by chbak014 on 10-17-2007 04:04 PM

[Anonymous]

I dunno - but Amex sure does.