Re: Newbie Question..
11-13-2012 05:58 PM
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 learned this the hard way with BoA. I put a reccuring charge on my BoA card. It shows up in my "pending" charges 1 or 2 days before my payment due date each month. BoA won't allow me to pay it until it clears. BoA sometimes doesn't clear this payment until 1 or 2 days AFTER my payment due date. If I fail to pay it on the day that it clears, it gets reported to the CRAs even though my balance was zero on the payment due date.
Starting Score: EQ 658 6/18/12
Current Score: EQ 671 8/4/14 - EX 687 7/21/14 - TU 682 7/21/14
Goal Score: EQ 720+
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