topic Re: Did i do something wrong? Statement cut date US Bank Secured.. in Credit Cards

Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 03:08:10 GMT

I got my US bank Secured and charged the first purchase on August 29th.

However it appears the statement already cut because it shows a min payment of $30 due 10/3/16.

I wanted to pay the balance off before it cut to show lot utilization.

How did I mess it up? I've only had the card 2 weeks..

Re: Did i do something wrong? Statement cut date US Bank Secured..

coldnmn — Sun, 11 Sep 2016 03:11:04 GMT

US Bank statements normally cut on or about the 30th of each month.

Re: Did i do something wrong? Statement cut date US Bank Secured..

coldnmn — Sun, 11 Sep 2016 03:14:31 GMT

Actually I am wrong in the previous statement. They report to the credit bureau's on or about the 30th. Your statement must close at that time also.

Re: Did i do something wrong? Statement cut date US Bank Secured..

SouthJamaica — Sun, 11 Sep 2016 03:15:04 GMT

@Cleaningitup2016 wrote:
I got my US bank Secured and charged the first purchase on August 29th.

However it appears the statement already cut because it shows a min payment of $30 due 10/3/16.

I wanted to pay the balance off before it cut to show lot utilization.

How did I mess it up? I've only had the card 2 weeks..

What I do to avoid that is to call up whenever I get a new card and ask what the statement date will be.

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 03:15:39 GMT

@coldnmn wrote:
US Bank statements normally cut on or about the 30th of each month.

My experience is that it cuts whenever, but reports whatever the balance is at the end of the month.

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 04:31:21 GMT

Well hoar far back does FICO score go on balances?

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 08:06:49 GMT

@Cleaningitup2016 wrote:
Well hoar far back does FICO score go on balances?

The FICO scoring model only SEES the balance at that momernt and only scores right at that moment ...there is NO HISTORY nor memory of even YESTERDAY.

'We' remember ...we compare but the compuet runs the numbers each time totally independant of even a score run 5 minutes ago....

What chjanges is the DATA used by the model....

Ex if you run a score on the 15th and your BoA and WF accounts have reported for that month, so be it but if you run your score again on the 25th and by then

your credit union and gas crd have updated their reporting of course your scores are likely to be different although the BoA and WF balances are excatly as they were 10 days ago ...no matter what the true balance are at that moment , point being the snapshot was taken for those 2 on the 15th are won't update or change until the 15th of next month

So again FIC is going 'back' anywhere it's just calculating the most current data it has...at that very moment

We confuse the issue by saying stuff like my score went up or down etc ...but the truth is we are just comparing our LAST reading with our most CURRENT reading

A lot like our blood presurre reading at the doctor's ....we're comparing READINDS no actually our real blood presurre the ENTIRE time between readings ...because it's IMPOSSIBLE to know just to compare LAST vs CURRENT ...best we can do..

It's funny we say 'my credit is' when we should say my LAST reading was ...same as we 'get' that our LAST blood pressure reading was just that the LAST reading...

we don't go around sayiong my blood pressure IS ..we say last I check it WAS......this is actually the way we should speak of credit scores to be fair.

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 10:14:07 GMT

As has been reported ... US Bank reports credit cards and their Premier Line of Credit to all the credit bureaus at month end with no reference to statement close dates.

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 11:47:34 GMT

"What I do to avoid that is to call up whenever I get a new card and ask what the statement date will be."
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Same here. I get the statement cut date and date they report and then input in my Google calendar.

Re: Did i do something wrong? Statement cut date US Bank Secured..

kdm31091 — Sun, 11 Sep 2016 12:40:00 GMT

@Anonymous wrote:
"What I do to avoid that is to call up whenever I get a new card and ask what the statement date will be."
_____________________________________________________

Same here. I get the statement cut date and date they report and then input in my Google calendar.

Right, but regardless of the cut date, US Bank reports at the same time for everyone

Re: Did i do something wrong? Statement cut date US Bank Secured..

Anonymous — Sun, 11 Sep 2016 12:54:14 GMT

Roodog26 wrote:
"What I do to avoid that is to call up whenever I get a new card and ask what the statement date will be."
_____________________________________________________

Same here. I get the statement cut date and date they report and then input in my Google calendar.
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Right, but regardless of the cut date, US Bank reports at the same time for everyone
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I'd still input it. I have multiple cards, so works for me to just look at the calendar instead of trying to remember which dies what, even if it's one size fits all.

Re: Did i do something wrong? Statement cut date US Bank Secured..

CreditDunce — Mon, 12 Sep 2016 02:32:40 GMT

Have you checked CK, etc to see if the account has reported? There is a chance it is too new to report this month. Until it reports, it will not affect your utilization. Even if it did report this month, the utilization may be low. You get a day or two of pending charges before they post. Only transactions that have posted by Aug 31st will be part of your reported balance.

Worst case scenario is utilization doesn't have any memory... I prefer to let my balances report to get the max float. Then PIF.

For reference, my new US Bank card is a little over 3 weeks old. So far it has only reported on EQ and EX. I expect it will report on TU in the next couple of days.