topic Re: Pending transactions at stament closing in Credit Cards

Pending transactions at stament closing

Zoostation1 — Sun, 12 Feb 2023 20:20:37 GMT

My first statement closing date is coming up later this week on my Amex BCP. When Amex reports, do they include pending transactions (I know it may not report at all this month)? My statement closes on the 17th, the same day of my Spotify subscription gets billed and since I am still practicing AZEO I'd like this card to report 0. It's not the end of the world if it reports but I'd still prefer to keep it at 0. (I can always move it back to SavorOne to ensure it won't and would only be losing 32¢).

Re: Pending transactions at stament closing

Remedios — Sun, 12 Feb 2023 20:30:17 GMT

Transaction cannot be included until it's posted but since we're talking about Amex, they will make sure it posts just in time for statement closing

I've had them include same day charges

Re: Pending transactions at stament closing

K-in-Boston — Sun, 12 Feb 2023 20:49:26 GMT

@Remedios wrote:
Transaction cannot be included until it's posted but since we're talking about Amex, they will make sure it posts just in time for statement closing
I've had them include same day charges

+1. A nearly $2k insurance charge that was charged Sunday afternoon made it to my statement the next morning this month. Amex wastes no time.

Re: Pending transactions at stament closing

Kforce — Sun, 12 Feb 2023 21:39:14 GMT

@K-in-Boston wrote:
@Remedios wrote:
Transaction cannot be included until it's posted but since we're talking about Amex, they will make sure it posts just in time for statement closing
I've had them include same day charges

+1. A nearly $2k insurance charge that was charged Sunday afternoon made it to my statement the next morning this month. Amex wastes no time.

All of my CU's and Bank's post pending on the statement date.

The 2-3 pending is shortened because it benefits them.

The new normal

Re: Pending transactions at stament closing

Zoostation1 — Sun, 12 Feb 2023 22:22:55 GMT

Thanks for the replies and that settles it for me...moving Spotify back SavorOne (all my other streaming services were just moved to BCP).

Re: Pending transactions at stament closing

OmarGB9 — Sun, 12 Feb 2023 22:25:05 GMT

@Zoostation1 wrote:
Thanks for the replies and that settles it for me...moving Spotify back SavorOne (all my other streaming services were just moved to BCP).

Why not just call Amex and ask to change your due date (which I believe might also change your statement date?)?

Re: Pending transactions at stament closing

Remedios — Sun, 12 Feb 2023 22:26:35 GMT

@Zoostation1 Amex allows you to pay pending charges so there really isn't a need to move anything unless that's what you want to do

Re: Pending transactions at stament closing

fury1995 — Mon, 13 Feb 2023 00:13:24 GMT

@Remedios wrote:
@Zoostation1 Amex allows you to pay pending charges so there really isn't a need to move anything unless that's what you want to do

Yes, this exactly.

Re: Pending transactions at stament closing

nytokyobred79 — Mon, 13 Feb 2023 03:42:00 GMT

@fury1995 wrote:
@Remedios wrote:
@Zoostation1 Amex allows you to pay pending charges so there really isn't a need to move anything unless that's what you want to do
Yes, this exactly.

Yup. I know that Amex wastes no time including some pending charges at closing date so what I either do is pay the pending charge in advance or if I have regular charges around closing date, I've had Amex change when the statement closes( that way, I have no concerns about the charges posting then).

Re: Pending transactions at stament closing

OmarGB9 — Mon, 13 Feb 2023 13:32:27 GMT

Yea, it always seems to be the case that pending charges will post before statement close with any issuer. How convenient.

Re: Pending transactions at stament closing

SouthJamaica — Mon, 13 Feb 2023 18:01:09 GMT

@Zoostation1 wrote:
My first statement closing date is coming up later this week on my Amex BCP. When Amex reports, do they include pending transactions (I know it may not report at all this month)? My statement closes on the 17th, the same day of my Spotify subscription gets billed and since I am still practicing AZEO I'd like this card to report 0. It's not the end of the world if it reports but I'd still prefer to keep it at 0. (I can always move it back to SavorOne to ensure it won't and would only be losing 32¢).

No one reports pending transactions. Only posted transactions are posted. But sometimes they post it faster than usual when the statement is being generated. So since you're micro-managing reported balances, you should assume they will be included. If you want to avoid that, make an extra payment.

Re: Pending transactions at stament closing

Rogue46 — Mon, 13 Feb 2023 18:07:52 GMT

So if you prepay pending charges before statement cuts would it show as a positive balance or just zero?

Re: Pending transactions at stament closing

Centurion_Dreamer — Mon, 13 Feb 2023 18:16:03 GMT

BofA is not posting pending transactions faster, Amex does.

Re: Pending transactions at stament closing

K-in-Boston — Mon, 13 Feb 2023 18:24:23 GMT

@Rogue46 wrote:
So if you prepay pending charges before statement cuts would it show as a positive balance or just zero?

Negative balances report as $0. Positive balances would show whatever the statement balance is (or for some lenders such as US Bank whatever the balance is on the reporting date if it differs from statement date).