topic Re: CC Reporting Question in Credit Cards

CC Reporting Question

Anonymous — Mon, 05 Jan 2009 17:10:53 GMT

When does your CCC report your balance to the CRA's? When your statement cuts, or at the end of the month? Just trying to get a jump on paying before they report so that it shows a nice big zero on my reports.

Re: CC Reporting Question

llecs — Mon, 05 Jan 2009 17:19:09 GMT

Typically at or near when your statement cuts. Some lenders like HSBC or Amex are oddballs and report differently.

Re: CC Reporting Question

Anonymous — Mon, 05 Jan 2009 17:21:30 GMT

That explains a lot actually... my HSBC reports a balance even though I PIF and usually PIF before the ststement cuts. That in fact answered my question. Muchas gracias!

@llecs wrote:
Typically at or near when your statement cuts. Some lenders like HSBC or Amex are oddballs and report differently.

Re: CC Reporting Question

llecs — Mon, 05 Jan 2009 17:25:04 GMT

Pappy214 wrote:
That explains a lot actually... my HSBC reports a balance even though I PIF and usually PIF before the ststement cuts. That in fact answered my question. Muchas gracias!

Da nada. No problemo. Actually, HSBC (Orchard included) reports the balance that occurred on the last business day of the month and, for myself anyway, reports about a week to 10 days after that, or whenever they feel like it (it seems).

Re: CC Reporting Question

Anonymous — Mon, 05 Jan 2009 17:30:53 GMT

I had that feeling because my Orchard reported a $25.00 balance (two movie tickets here in SO Cal now) after I PIF'd and my statement showed a zero balance when it arrived. I guess we can't judge exactly when they will report.