topic Re: Chase reporting: Is this common? in Credit Cards

Chase reporting: Is this common?

TrialByFire — Mon, 07 Dec 2015 02:30:00 GMT

Just curious if this is common knowledge. I never see it mentioned here, and I searched briefly through 5 pages but couldn't find a post about this.

Everytime I pay my Chase accounts to a ZERO balance, no matter the time of month, Chase updates my 3 CRs as ZERO balance.

For instance, if my payment is due the first and I pay the balance in full (or not), it'll update as such ~5 days later. If I charge whatever on the card and pay that balance in full on let's say the 10th, same thing happens and the 0 balance is updated with the CRA ~5 days later.

So in theory, one really doesn't have to worry about util with Chase. This holds true for both my csp and freedom.

Does this apply to everyone else? Again, I apologize if this is common knowledge but curiosity got the best of me.

Re: Chase reporting: Is this common?

CreditCuriosity — Mon, 07 Dec 2015 02:33:13 GMT

@TrialByFire wrote:
Just curious if this is common knowledge. I never see it mentioned here, and I searched briefly through 5 pages but couldn't find a post about this.

Everytime I pay my Chase accounts to a ZERO balance, no matter the time of month, Chase updates my 3 CRs as ZERO balance.

For instance, if my payment is due the first and I pay the balance in full (or not), it'll update as such ~5 days later. If I charge whatever on the card and pay that balance in full on let's say the 10th, same thing happens and the 0 balance is updated with the CRA ~5 days later.

So in theory, one really doesn't have to worry about util with Chase. This holds true for both my csp and freedom.

Does this apply to everyone else? Again, I apologize if this is common knowledge but curiosity got the best of me.

Yes Chase does this... A definite benefit with Chase cards! So lets say you have 40% utilization reporting on chase card and you want to apply for another card and get a good limits/apr you simply pay off Chae card fully if you want it to report wait a few days for it to report 0 balance then apply for whatever card.

Re: Chase reporting: Is this common?

Anonymous — Mon, 07 Dec 2015 02:32:18 GMT

Its a Chase thing...happens to me and others all the time. Nice feature!

Re: Chase reporting: Is this common?

TrialByFire — Mon, 07 Dec 2015 02:36:22 GMT

Good deal I hope they don't ever stop either! Must be their consolation prize for lack of generosity w/ their coveted auto cli.

Re: Chase reporting: Is this common?

Anonymous — Mon, 07 Dec 2015 02:39:10 GMT

@CreditCuriousity wrote:
@TrialByFire wrote:
Just curious if this is common knowledge. I never see it mentioned here, and I searched briefly through 5 pages but couldn't find a post about this.

Everytime I pay my Chase accounts to a ZERO balance, no matter the time of month, Chase updates my 3 CRs as ZERO balance.

For instance, if my payment is due the first and I pay the balance in full (or not), it'll update as such ~5 days later. If I charge whatever on the card and pay that balance in full on let's say the 10th, same thing happens and the 0 balance is updated with the CRA ~5 days later.

So in theory, one really doesn't have to worry about util with Chase. This holds true for both my csp and freedom.

Does this apply to everyone else? Again, I apologize if this is common knowledge but curiosity got the best of me.
Yes Chase does this... A definite benefit with Chase cards! So lets say you have 40% utilization reporting on chase card and you want to apply for another card and get a good limits/apr you simply pay off Chae card fully if you want it to report wait a few days for it to report 0 balance then apply for whatever card.

Is is only with zero balance, CC? For example, conversely, do they ever report off cycle when you place a large charge on the card? (hope not)

Re: Chase reporting: Is this common?

CreditCuriosity — Mon, 07 Dec 2015 02:49:58 GMT

Just 0 balance or normal cycle reporting

Re: Chase reporting: Is this common?

Anonymous — Mon, 07 Dec 2015 03:07:05 GMT

Good to know, CC. Now, on the complete other end of the spectrum, you have Comenity- who doesn't send an update to the CRA's for months if you have a zero balance!

Re: Chase reporting: Is this common?

takeshi74 — Mon, 07 Dec 2015 14:05:02 GMT

@TrialByFire wrote:
Just curious if this is common knowledge. I never see it mentioned here, and I searched briefly through 5 pages but couldn't find a post about this.

It has definitely been discussed before even if it's not in the last 5 pages of active threads. Don't overlook a site restricted Google search as a tool:

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&es_th=1&ie=UTF-8#q=chase%20update%20zero%20balance%20site%3Aficoforums.myfico.com&es_th=1

Re: Chase reporting: Is this common?

Jerry45 — Mon, 07 Dec 2015 14:15:35 GMT

@TrialByFire wrote:
Good deal I hope they don't ever stop either! Must be their consolation prize for lack of generosity w/ their coveted auto cli.

Spot on. Needle in a haystack for a chase auto CLI.

Re: Chase reporting: Is this common?

Jerry45 — Mon, 07 Dec 2015 14:16:26 GMT

@Anonymous wrote:
Good to know, CC. Now, on the complete other end of the spectrum, you have Comenity- who doesn't send an update to the CRA's for months if you have a zero balance!

Or Synchrony.

Re: Chase reporting: Is this common?

TrialByFire — Mon, 07 Dec 2015 16:46:06 GMT

I searched "chase reporting" or something to that effect and went through 5 pages of search results. Good to know takeshi.

Re: Chase reporting: Is this common?

Anonymous — Mon, 07 Dec 2015 16:54:35 GMT

Noticed the same thing a few months back with my Chase Amazon card. And I noticed something even crazier just now:

I have a Synchrony Amazon Store Card which I used for some 6-months 0% APR purchase. I've been paying it off $100/mo. Last statement was Nov 12 with a $200 balance. I paid the monthly $100 around Nov 20. About two days later, my Experian report showed SYNCB/Amazon at $100 balance. I paid the remaining $100 on Dec 4 and lo and behold, my Experian report shows $0 balance as of today. Again, next statement will be Dec 12, but my balance has already updated TWICE in a month. Nice

Are we looking up to daily balance updates? I am yet to place a charge on the card to see if the update goes the other way, UP.

Re: Chase reporting: Is this common?

Anonymous — Mon, 07 Dec 2015 17:24:08 GMT

That should be common practice I hate when I pay someone off and it takes 45 days or more for everyone to see it. Like barclays, bbva

Re: Chase reporting: Is this common?

adelphi_sky — Mon, 07 Dec 2015 20:34:07 GMT

@CreditCuriousity wrote:
@TrialByFire wrote:
Just curious if this is common knowledge. I never see it mentioned here, and I searched briefly through 5 pages but couldn't find a post about this.

Everytime I pay my Chase accounts to a ZERO balance, no matter the time of month, Chase updates my 3 CRs as ZERO balance.

For instance, if my payment is due the first and I pay the balance in full (or not), it'll update as such ~5 days later. If I charge whatever on the card and pay that balance in full on let's say the 10th, same thing happens and the 0 balance is updated with the CRA ~5 days later.

So in theory, one really doesn't have to worry about util with Chase. This holds true for both my csp and freedom.

Does this apply to everyone else? Again, I apologize if this is common knowledge but curiosity got the best of me.
Yes Chase does this... A definite benefit with Chase cards! So lets say you have 40% utilization reporting on chase card and you want to apply for another card and get a good limits/apr you simply pay off Chae card fully if you want it to report wait a few days for it to report 0 balance then apply for whatever card.

Good thing I zeroed out my Chase co-branded cards then I guess before applying for the CSP.

Re: Chase reporting: Is this common?

MTSN — Tue, 08 Dec 2015 20:03:51 GMT

Yes and I love that about Chase. I have a credit union card I don't use because they're just the opposite. You can PIF with them and your balance will not update for months which is extremely frustrating. I paid off an auto loan from the same CU in October 2014, and it was still on my credit report as open and current this month. I literally had to file a dispute to get them to update with the credit bureaus, so Chase is excellent in this regard.

Re: Chase reporting: Is this common?

Anonymous — Thu, 10 Dec 2015 13:50:08 GMT

My Walmart MasterCard (also by Synchrony - like the Amazon Store Card) does the same now. It reports to the CRA as soon as I pay it in full. I placed a $15 charge on it and paid it off. There was no reporting of the $15, but as soon as I paid it off, it reported as $0. Note that it was $0 as of the statement back on Nov 17. So it appears Synchrony and Chase are both reporting a payment in full as soon as it happens. That's awesome - allows for rapid rescoring...

Re: Chase reporting: Is this common?

elim — Thu, 10 Dec 2015 14:08:17 GMT

yep, every month my Chase cards report a balance for 4 or 5 days then it's back to 0. love it

Re: Chase reporting: Is this common?

Anonymous — Thu, 10 Dec 2015 14:11:19 GMT

I love that about Chase!

Re: Chase reporting: Is this common?

Anonymous — Thu, 10 Dec 2015 14:28:08 GMT

Also worth noting about Synchrony:

My Walmart Store Card got upgraded to a MasterCard last month. Never used the MC until a few days ago. Last statement NOV 17 reported to the CRA showed a $0 balance with a $0 high balance (yeah, they screwed me on the new tradeline - shows it's been opened OCT2015... AAoA downgrade). As of DEC 7 it shows with a $0 balance and a $15 high balance. So not only it reported the paid in full, it also updated the highest balance ever used. Which was NEVER on the statement.