topic Re: Chase: Will Car rental post on closing date? in Credit Cards

Chase: Will Car rental post on closing date?

PointLager — Thu, 17 Mar 2016 22:04:09 GMT

Hi all,

I have a car rental that I am returning on a Saturday, the same day that the Chase card i am using is closing. I would prefer not to have this rental show up on the stetement. Would this post on a Saturday, given the statement closing? Or would it just post on the next business day?

thanks

Re: Chase: Will Car rental post on closing date?

Loquat — Thu, 17 Mar 2016 22:07:34 GMT

It would depend on when the rental company closes out the charge...it could very well post the same day.

Re: Chase: Will Car rental post on closing date?

PointLager — Thu, 17 Mar 2016 22:09:51 GMT

thanks. that is what i was thinking. but regardless of the car rental co submitting the charge i was wondering what people's experiences were in general with Chase and Saturday transactions.

Re: Chase: Will Car rental post on closing date?

Ghoshida — Thu, 17 Mar 2016 22:11:54 GMT

In my experience, Enterprise and Avis / Budget take 2 days to close. I have had statements generated without the charges closed.

However it depends on the rental company. But in most cases you can expect at least one business day for closing. It is generally tied to when they release your deposit too.

Re: Chase: Will Car rental post on closing date?

Anonymous — Thu, 17 Mar 2016 22:44:12 GMT

@Loquat wrote:
It would depend on when the rental company closes out the charge...it could very well post the same day.

I don't believe I've encountered (from when I look, as it's not something I actively look for) any cc charges from any merchant that will post the same day.

OP, my experiences with car rental and they take at least one day to post. I use a CSP.

Here's my last 2 data point renting from National:

return car on 2/20, posted 2/21

return car on 3/1, posted 3/3

Re: Chase: Will Car rental post on closing date?

Anonymous — Thu, 17 Mar 2016 22:55:49 GMT

Sam's Club Mastercard posted a gasoline charge and convenience store charge ( 2 separate charges) that occurred on the day of the statement. Although I can't speak for Chase, there are definitely cards that will post a charge that same night if that statement is cutting that evening. Good to be aware of if you are trying to have the statement post with a zero balance.

I did also have an Amex charge for a rental car post the next morning and end up on a statement, but I can't speak for Chase.

Re: Chase: Will Car rental post on closing date?

Loquat — Thu, 17 Mar 2016 23:38:24 GMT

@Anonymous wrote:
Sam's Club Mastercard posted a gasoline charge and convenience store charge ( 2 separate charges) that occurred on the day of the statement. Although I can't speak for Chase, there are definitely cards that will post a charge that same night if that statement is cutting that evening. Good to be aware of if you are trying to have the statement post with a zero balance.

I did also have an Amex charge for a rental car post the next morning and end up on a statement, but I can't speak for Chase.

+1 I've had it happen on a few occasions...QuikTrip in my area is known for it...I've purchased coffee on my way to work at 4:30am and that evening when CapOne cycles that charge will go from pending to posted by the next morning with the date of swipe being the post date. I don't know why some merchants are faster than others. But I've also been on the other end of the spectrum where charges have been in pending so long that CapOne will just release the funds and eventually the actual charge will show...

Re: Chase: Will Car rental post on closing date?

lg8302ch — Thu, 17 Mar 2016 23:46:18 GMT

If you are worried about utilization purpose then you can relax. Even if it does post on the statement you can pay it off immediately and it will report 0 balance. Chase automatically sends a midcycle report when the account is paid to 0 balance. (in case you did not know about) I doubt it will appear on the same statement

Re: Chase: Will Car rental post on closing date?

PointLager — Thu, 17 Mar 2016 23:51:13 GMT

Thank you guys.

This is Hertz. It's a small amount (sub $50) so from a utilization it won't matter. I'm just being OCD as I've already had one of my cards print a balance this month and I don't want another one.

Re: Chase: Will Car rental post on closing date?

lg8302ch — Thu, 17 Mar 2016 23:55:49 GMT

@PointLager wrote:
Thank you guys.

This is Hertz. It's a small amount (sub $50) so from a utilization it won't matter. I'm just being OCD as I've already had one of my cards print a balance this month and I don't want another one.

No problem. If it hits the statement and gets reported then just pay it and Chase will re-report and bam .. a day or two later it is 0 balance on this account again.

Re: Chase: Will Car rental post on closing date?

red259 — Thu, 17 Mar 2016 23:55:01 GMT

@Anonymous wrote:
Sam's Club Mastercard posted a gasoline charge and convenience store charge ( 2 separate charges) that occurred on the day of the statement. Although I can't speak for Chase, there are definitely cards that will post a charge that same night if that statement is cutting that evening. Good to be aware of if you are trying to have the statement post with a zero balance.

I did also have an Amex charge for a rental car post the next morning and end up on a statement, but I can't speak for Chase.

So are you saying if your statement close date was 3/17 you actually made charges that same day and then it was included in your statement cut? I don't watch things that closely, but I am kinda suprised it could go from a charge on to your statement all within 24 hours. Always thought it took at least two days to go through the whole process.

Re: Chase: Will Car rental post on closing date?

PointLager — Thu, 17 Mar 2016 23:56:54 GMT

Thanks @lg. That's a useful trick.

Re: Chase: Will Car rental post on closing date?

lg8302ch — Fri, 18 Mar 2016 00:04:10 GMT

@PointLager wrote:
@Anonymous @Anonymous. That's a useful trick.

Chase accounts are my only accounts with 0 balances on the report because I am too lazy to pay before statement ..lol

Re: Chase: Will Car rental post on closing date?

PointLager — Fri, 18 Mar 2016 00:09:37 GMT

So chsse retroactively adjusts that particular month end balance on the CRs?

I could also pull a payment in but I don't know if chase reports credit balances or reports as zero. Or if it doesn't report at all in that case

Re: Chase: Will Car rental post on closing date?

lg8302ch — Fri, 18 Mar 2016 00:25:31 GMT

@PointLager wrote:
So chsse retroactively adjusts that particular month end balance on the CRs?

I could also pull a payment in but I don't know if chase reports credit balances or reports as zero. Or if it doesn't report at all in that case

Credit balances are reported as 0 balance .. and yes Chase does a new reporting mid cycle if you pay down to 0 balance anytime during the cycle. Kind of nice feature if you want to get your report in shape

Re: Chase: Will Car rental post on closing date?

NRB525 — Fri, 18 Mar 2016 02:05:24 GMT

@lg8302ch wrote:
@PointLager wrote:
So chsse retroactively adjusts that particular month end balance on the CRs?

I could also pull a payment in but I don't know if chase reports credit balances or reports as zero. Or if it doesn't report at all in that case
Credit balances are reported as 0 balance .. and yes Chase does a new reporting mid cycle if you pay down to 0 balance anytime during the cycle. Kind of nice feature if you want to get your report in shape

So here is your takeaway OP:

The rental car charge will work it's way through the system.

If it doesn't go past Pending to Posted by the time the statement cuts, no issue.

If it goes to Posted and shows up on the statement, then two days later you pay it off on-line, and a few days after that Chase will post a new Credit Report update with the zero balance.

It would be helpful if you track any score impacts from this, and report back the results of any short term balance appearing then disappearing.