Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012
Re: Newbie Question......
[ Edited ]

brother7 wrote:

jamie123 wrote:

What is the reporting balance you ask? The CC companies report your account balance once each month to the CRAs. The reporting date varies from your payment due date, up to your payment due date + 3 to 4 days, so you need to control the balance on your card for this approx. 1 week period each month.


Jamie123, are you sure it is payment date? I was under the impression it was STATEMENT DATE. Please confirm.


I have to correct Jamie there............The CC companies report your account balance once each month to the CRAs on the statement cut off time.....On OP case, its on the 12 of every months but they usually report to credit bureaus after 2 to 3 days. I have monitor my account for several months and leave a balance report higher a lil bit than the previous months like $2 dollars and i get the Alert Score Watch after 3 4 ddays payment cut off time.

 

Example:

 

My Crappy one cut off time on 13 of each month and i usually get Alert Score Watch on 16 or 17 if i let the balance increase a few dollars.

 

Credit One Cut off time 10 of each month........ALert on 13 to 15.......

Hope its clear all the newbie..............Feel free to contact me if you still confuse..........

 


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k