topic Re: Elan/Fidelity reporting balance before statement end? in Credit Cards

Elan/Fidelity reporting balance before statement end?

marmaladepie — Thu, 03 Oct 2019 13:05:43 GMT

Is this unheard of or common knowledge?
My statement ends 10-7-19 so I paid the balance off full last night in order to avoid a large balance reporting. Had a big expense put on the card over a week ago. The balance as of this morning according to EX showed the large expense. : /

Re: Elan/Fidelity reporting balance before statement end?

Anonymous — Thu, 03 Oct 2019 13:12:41 GMT

@marmaladepie wrote:
Is this unheard of or common knowledge?
My statement ends 10-7-19 so I paid the balance off full last night in order to avoid a large balance reporting. Had a big expense put on the card over a week ago. The balance as of this morning according to EX showed the large expense. : /

Elan Financial Services is a subsidiary of U.S. Bank.

Both U.S. Bank and Elan report the balance on the last business day of the month to the credit bureaus.

Re: Elan/Fidelity reporting balance before statement end?

marmaladepie — Thu, 03 Oct 2019 13:31:55 GMT

Thank you!

Re: Elan/Fidelity reporting balance before statement end?

BallBounces — Thu, 03 Oct 2019 14:23:26 GMT

@Anonymous wrote:

Both U.S. Bank and Elan report the balance on the last business day of the month to the credit bureaus.

This is true, and I would also add that it takes a few days for that balance to be effected at the CRAs. 3-5 depending on the bureau is my experience. This is why I often wait several days before pulling a "New Month" set of FICO scores.

Re: Elan/Fidelity reporting balance before statement end?

Remedios — Thu, 03 Oct 2019 14:42:28 GMT

My US Bank balances are reflected on EX as of today. I'm fairly certain TU will update before 2025.

Re: Elan/Fidelity reporting balance before statement end?

pinkandgrey — Thu, 03 Oct 2019 15:18:54 GMT

As another poster said, I believe Elan is part of US Bank. US Bank reports the current balance on the last day of the month or somewhere around there.