Reporting timeline and frequency

DezC · ‎02-27-2011

I know that credit card companies report balance shortly after the statement is created, however if a payment is made after the statement is there the possibility that the new lower balance will be reported instead? Secondly, will the cc companies report an updated balance upon customer request or is it only reported once a month? Last is it correct to say that fico score is updated at the end of the month or does it change as information is updated?

Basically I made my payment by the due date however I had extra that I wanted to pay after I got paid but I missed the statement deadline. Im trying to reduce utilization and see the effect on my score. Thanks for any info.

mocha82 · ‎02-28-2011

Most CC companies report at the end of the month. Example: My Orchard Bank card is due by the 5th of each month but it reports the end of the month balance. The best way to find out is to wait for a update if you have score watch, etc. CC companies report once a month, they usually stick to their guns with that one. Unless you dispute the balance that is reporting. I wouldn't suggest doing that because it can take up to 30 days for it to be updated and could possibly mess up any updates that you do after you dispute it (balance for the month may be off),

Closed on my 1st home on: 11/30/2011
First Guaranty Mortgage Corporation (FGMC)
Starting Score:Equifax: 490 (01/14/2011)Transunion: 498 (01/14/2011)
Current Score: Equifax: 609(07/09/2012) Transunion: 644 (10/14/2011) Experian: 593 Lender Pull (08/22/2011)

Goal Score: 700

Take the FICO Fitness Challenge

DezC · ‎02-28-2011

Darn, I was hoping there was a way to get a boost to my score without waiting until the end of March. Thanks for the info! Scorewatch hasn't been reporting changes so I guess I'll wait and see how it turns out.

MarineVietVet · ‎02-28-2011

@mocha82 wrote:
Most CC companies report at the end of the month. Example: My Orchard Bank card is due by the 5th of each month but it reports the end of the month balance. The best way to find out is to wait for a update if you have score watch, etc. CC companies report once a month, they usually stick to their guns with that one. Unless you dispute the balance that is reporting. I wouldn't suggest doing that because it can take up to 30 days for it to be updated and could possibly mess up any updates that you do after you dispute it (balance for the month may be off),

Only a few CCC's report on the last business day of the month; Orchard being one of them. MOST CCC"s report on the statement date or within a few days.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".