topic Discover mid cycle update? in Credit Cards

Discover mid cycle update?

HeilFico — Tue, 20 Jan 2015 16:07:59 GMT

I won't be able to call until later so I figured I'd ask here to see if anyone has been successful? I just paid in full a 2k balance and the statement cut yesterday. I really don't want this to report even though my credit line is $12,000. Is Discover receptive to mid cycle updates? I guess I would call once the payment clears tomorrow.

Thanks guys! (and gals)

Re: Discover mid cycle update?

yfan — Tue, 20 Jan 2015 16:50:36 GMT

Discover is more accommodating than any lender I know, so can't hurt to try. You may also try sending them an SM.

May I ask why though? Are you applying for a big loan in the next month? Fico has no memory of utilization after all.

Re: Discover mid cycle update?

Gunnar419 — Tue, 20 Jan 2015 18:23:54 GMT

Discover is wonderful with mid-cycle reports. Just ask and it will be granted! They've done it several times for me.

Re: Discover mid cycle update?

goldengopher1991 — Tue, 20 Jan 2015 19:59:13 GMT

Yes they'll do it, call in to ask

Re: Discover mid cycle update?

chalupaman — Tue, 20 Jan 2015 20:20:08 GMT

@HeilFico wrote:
I won't be able to call until later so I figured I'd ask here to see if anyone has been successful? I just paid in full a 2k balance and the statement cut yesterday. I really don't want this to report even though my credit line is $12,000. Is Discover receptive to mid cycle updates? I guess I would call once the payment clears tomorrow.

Thanks guys! (and gals)

I'd give the chat a try. I think they can certainly do it.

Re: Discover mid cycle update?

LuckyBird — Wed, 21 Jan 2015 01:29:17 GMT

They've done it for me before as well when we were getting ready to apply for auto financing and needed to bump the scores up a couple of points for 0%. Very accommodating & nice about it. BofA was very good about it, too...just as an aside...

Re: Discover mid cycle update?

Anonymous — Wed, 21 Jan 2015 02:12:15 GMT

Didn't know this was possible. If i knew I would have started my mortgage process a week ago.

I accidently used my credit card for a big purcahse on the last day of the cycle and it reported as maxed out when my credit report updated. Rookie mistake my fault. I helped my brother in law pay for my sister's engagement ring right before christmas to help him mask the purchase until he gave her the ring. He gave me a check to be cashed after he gave it to her. I made the decision to use my card to take advantage of the rewards.

I also had my chase slate card close 1/3 statement with a 1200 dollar balance on a 1500 credit limit and since have paid balance down to 425 28% of card. I called them and regular CSR told me it wasn't possible but that they could send me a letter. Connected me to credit agency reporting team and I asked them the question and said it could certainly be done.

With this experience I decided to call capital one ( the card I accidently maxed out) and their credit agency team was already closed suggested I call tomorrow it seems like regualr CSRs say this isn't possible. My capital one statement closes on the 22nd anyway but they usually don't report until the 1st of Feb. If I can get them to process a mid cycle update to reflect the 0 balance on the card I can probably start the process a week early.

In my situation it's a big deal because the credit card reporting maxed out dropped my score on two agencies by like 30 points a piece from the scores in my sig to 612 and like 608.

Re: Discover mid cycle update?

takeshi74 — Wed, 21 Jan 2015 13:34:53 GMT

@Anonymous wrote:
In my situation it's a big deal because the credit card reporting maxed out dropped my score on two agencies by like 30 points a piece from the scores in my sig to 612 and like 608.

Again, unless you're apping it doesn't really matter. When your card reports next time your score will rebound (assuming that utilization goes down to where it was before reporting as mxed).

Re: Discover mid cycle update?

HeilFico — Wed, 21 Jan 2015 14:25:34 GMT

Just wanted to chime back in even though the answer was posted a few times. They are more than happy to mid cycle update. Hopefully this thread is helpful to others that find themselves in my position.