topic Re: $0 balance reporting PIF chase in Credit Cards

$0 balance reporting PIF chase

Gregory1776 — Tue, 03 Dec 2024 22:11:55 GMT

My statement closes on the 24th and I just paid the complete balance off on my statement yesterday (and made a payment on the 28th as well)

being that I made two payments - and the balance is now 0 will they report that as 0 or am I waiting to the 24th?

I was hoping to see the change in scores with 2 balances reported on my CR: Citi card at 85% and chase at 9% to citi at 85% and no other accounts reported (excluding loan) to Citi CLI hitting my CR and utilization dropping to ~58%

should I be expecting chase to report it as PIF?

Re: $0 balance reporting PIF chase

FlaDude — Wed, 04 Dec 2024 03:17:03 GMT

@Gregory1776 wrote:
My statement closes on the 24th and I just paid the complete balance off on my statement yesterday (and made a payment on the 28th as well)

being that I made two payments - and the balance is now 0 will they report that as 0 or am I waiting to the 24th?

should I be expecting chase to report it as PIF?

If a payment brings the balance to zero, Chase should report it. It's always worked for me.

Re: $0 balance reporting PIF chase

FicoMike0 — Wed, 04 Dec 2024 03:46:32 GMT

I don't think Chase at 9% was hurting your score, so it going to zero might not have a score effect. Getting max utilization from 85% to 58% should help.

Re: $0 balance reporting PIF chase

Gregory1776 — Thu, 05 Dec 2024 16:03:15 GMT

@FlaDude wrote:
@Gregory1776 wrote:
My statement closes on the 24th and I just paid the complete balance off on my statement yesterday (and made a payment on the 28th as well)

being that I made two payments - and the balance is now 0 will they report that as 0 or am I waiting to the 24th?

should I be expecting chase to report it as PIF?
If a payment brings the balance to zero, Chase should report it. It's always worked for me.

Any idea how long it took? Still no update. 🤷‍♂️

Re: $0 balance reporting PIF chase

yam1rts — Thu, 05 Dec 2024 16:53:31 GMT

A) Let’s make it clear that banks don’t report how many payments you make. B) They report the new balance at statement closing. If it was zero on the 24th then a zero will be reported within 6 days. C) Usually score changes when there is a 10%+ balance decrease.

Re: $0 balance reporting PIF chase

Gregory1776 — Thu, 05 Dec 2024 19:06:45 GMT

@yam1rts wrote:
A) Let’s make it clear that banks don’t report how many payments you make. B) They report the new balance at statement closing. If it was zero on the 24th then a zero will be reported within 6 days. C) Usually score changes when there is a 10%+ balance decrease.

It's commonly reported chase will report a 0 balance when you PIF the statement. Read first comment, that's what I am referring to. How long does it take and will they since I've made 3 payments to get it to 0, and not 1.

I'm well aware of balances being reported on statement close (minus US Bank)

Re: $0 balance reporting PIF chase

tcbofade — Thu, 05 Dec 2024 22:46:36 GMT

Chase being Chase, I believe that they'll report the zero balance to the CRAs in a few days.

Do keep us posted please. I'm in the process of something similar.

Re: $0 balance reporting PIF chase

Gregory1776 — Fri, 06 Dec 2024 11:50:19 GMT

@tcbofade wrote:
Chase being Chase, I believe that they'll report the zero balance to the CRAs in a few days.

Do keep us posted please. I'm in the process of something similar.

Transunion updated. Which is bizarre because idk how I got that update. I usually check experians website.Last night

Re: $0 balance reporting PIF chase

tcbofade — Fri, 06 Dec 2024 14:32:05 GMT

Yay! Good for you!

We've got a BT in process that will pay a Chase account to zero. Next statement will be 02 January, but I believe it will report the zero balance when the BT is received... which should be this week or next!

Re: $0 balance reporting PIF chase

HeavenOhio — Sat, 07 Dec 2024 04:36:44 GMT

Chase reports 0 very promptly for me, maybe two or three days tops. And they repeat the process every time I bring the card to zero throughout the month.

Re: $0 balance reporting PIF chase

Gregory1776 — Sat, 07 Dec 2024 17:01:33 GMT

@HeavenOhio wrote:
Chase reports 0 very promptly for me, maybe two or three days tops. And they repeat the process every time I bring the card to zero throughout the month.

Thanks

UPDATE:

Payment was made on the 2nd, didn't see it on my account (I believe until the next day), credit report (experian) updated on the second but I'm just seeing the score increase, didn't see anything until now & which is very minor, no notification and I got an additional 2 points. So score is now 786. I wish it updated quicker; I'll test that again later on. I've not been able to test this out. I deleted my Amazon a year ago or so and may resubscribe. I was spending too much money on there.

now I have to wait for my CITI statement to close to see the increase (hoping into the 800s) my CLI gets me.

one account reporting 87% utilization and a 3,200/8000 loan.