topic Re: Overstock Reporting? in Credit Cards

Overstock Reporting?

CivalV — Sun, 10 May 2020 16:41:23 GMT

My Overstock CC was approved April 14th. I did not have a minimum payment due but I just received an update that my account statement balance reported today? I am so confused. A little annoyed because I did not want the card to report a balance and I would have PIF had I known they would report the balance. My biggest worry right now is will this show as a late payment? Very confusing.

My statement shows I paid no interest and that I had no minimum payment due. If anyone can give me some insight on this, I would really appreciate it. I jus about had a heart attack when I receieved the notification because I've worked so hard to rebuild and it would suck if a late payment was added to my report.

Re: Overstock Reporting?

Brian_Earl_Spilner — Sun, 10 May 2020 16:42:36 GMT

All of my comenity cards took forever to generate the first statement. It got to the point I was worried about the same thing. I just went off the T&C and made a payment larger than what I was expecting the minimum to be.

Re: Overstock Reporting?

Remedios — Sun, 10 May 2020 17:00:15 GMT

@CivalV wrote:
My Overstock CC was approved April 14th. I did not have a minimum payment due but I just received an update that my account statement balance reported today? I am so confused. A little annoyed because I did not want the card to report a balance and I would have PIF had I known they would report the balance. My biggest worry right now is will this show as a late payment? Very confusing.

My statement shows I paid no interest and that I had no minimum payment due. If anyone can give me some insight on this, I would really appreciate it. I jus about had a heart attack when I receieved the notification because I've worked so hard to rebuild and it would suck if a late payment was added to my report.

There is nothing to worry about. Sometimes depending on your billing cycle, first statement can be a "short one", usually under two weeks from approval time.

It looks like normal statement, but nothing is due.

Your next statement will be "normal".

Several of my cards were like this, as opposed to ones that had a full billing cycle before first statement was generated.

Some lenders will report card opening before first statement is generated, and whatever balance is present, gets reported.

Relax.

Re: Overstock Reporting?

CreditInspired — Sun, 10 May 2020 17:07:51 GMT

Hi OP

You're good. Nothing to worry about. And one is only reported late to CRAs if one pays 31+ days past the due date.

You can now breathe again.

Re: Overstock Reporting?

CivalV — Sun, 10 May 2020 18:07:07 GMT

@Remedios wrote:
@CivalV wrote:
My Overstock CC was approved April 14th. I did not have a minimum payment due but I just received an update that my account statement balance reported today? I am so confused. A little annoyed because I did not want the card to report a balance and I would have PIF had I known they would report the balance. My biggest worry right now is will this show as a late payment? Very confusing.

My statement shows I paid no interest and that I had no minimum payment due. If anyone can give me some insight on this, I would really appreciate it. I jus about had a heart attack when I receieved the notification because I've worked so hard to rebuild and it would suck if a late payment was added to my report.

There is nothing to worry about. Sometimes depending on your billing cycle, first statement can be a "short one", usually under two weeks from approval time.
It looks like normal statement, but nothing is due.
Your next statement will be "normal".
Several of my cards were like this, as opposed to ones that had a full billing cycle before first statement was generated.
Some lenders will report card opening before first statement is generated, and whatever balance is present, gets reported.
Relax.

Thank you! I was very close to taking my anxiety meds lol

Re: Overstock Reporting?

CivalV — Sun, 10 May 2020 18:08:01 GMT

@CreditInspired wrote:
Hi OP

You're good. Nothing to worry about. And one is only reported late to CRAs if one pays 31+ days past the due date.

You can now breathe again.

Thank you!! I am now breathing normal while car shopping