topic Re: When does US Bank report utilization? in Credit Cards

When does US Bank report utilization?

pinkandgrey — Fri, 07 Sep 2018 16:06:59 GMT

I've heard mixed things on this. From what I understand, US Bank is one of the few that don't report statement balance. But I have heard some people say it's the current balance on the last day of the month and some people say it's the current balance on the first day of the month. Which is it?
Thanks!

Re: When does US Bank report utilization?

imaximous — Fri, 07 Sep 2018 16:11:30 GMT

They report your outstanding balance on the last business day of the month.

Re: When does US Bank report utilization?

FinStar — Fri, 07 Sep 2018 18:18:18 GMT

OP - you can also change the due date on your US Bank CCs to correspond with the timing of the month-end reporting.

Re: When does US Bank report utilization?

Kforce — Fri, 07 Sep 2018 20:49:55 GMT

Because you have been asking about reporting dates from different issuers it sounds like you are thinking about micro-managing to play with "Fico Scores". If this is the case you should search "AZEO" and read the good and bad from each method. (A long subject not for this post.)

If you want to simplify when you make payments or report low utilization with out micro-managing, or have utilization reported all in a short time frame, I recommend moving all payment dates to the 25th and paying on the 20th. If controlling utilization pay the current balance, if using the float pay the last statement balance. Once a month payment, and good control. * Note should have auto payments either pull or push as backup plan. If always using the float this is how many pay the cards * I use the 25th as many institutions have non movable statement or reporting dates at the end-of-month. Most that let you move due dates limit date changes between the 1st and 25th. Changing to the 25th makes for a single payment date and most cards reporting within a few days of each other.

Re: When does US Bank report utilization?

pinkandgrey — Fri, 07 Sep 2018 22:02:19 GMT

@Kforce wrote:
Because you have been asking about reporting dates from different issuers it sounds like you are thinking about micro-managing to play with "Fico Scores". If this is the case you should search "AZEO" and read the good and bad from each method. (A long subject not for this post.)

If you want to simplify when you make payments or report low utilization with out micro-managing, or have utilization reported all in a short time frame, I recommend moving all payment dates to the 25th and paying on the 20th. If controlling utilization pay the current balance, if using the float pay the last statement balance. Once a month payment, and good control. * Note should have auto payments either pull or push as backup plan. If always using the float this is how many pay the cards * I use the 25th as many institutions have non movable statement or reporting dates at the end-of-month. Most that let you move due dates limit date changes between the 1st and 25th. Changing to the 25th makes for a single payment date and most cards reporting within a few days of each other.

I don’t really use AZEO, but I like to make sure my utilization on each card doesn’t report too high.

Re: When does US Bank report utilization?

Anonymous — Fri, 07 Sep 2018 23:24:05 GMT

My Fidelity card reports on the 30th of each month (28th or 29th on February)

Re: When does US Bank report utilization?

Anonymous — Fri, 07 Sep 2018 23:48:28 GMT

As others have said, US Bank reports your balance to the CBs on the last business day of the month. They reported my balance on August 31 recently and it does not include any pending charges, just what was already posted. They will certainly allow you to change your payment due date for later in the month if you plan on micromanaging this account.