topic Re: Payment Timelines in Credit Cards

Payment Timelines

ljgsd — Mon, 05 Nov 2007 22:51:50 GMT

Hi, does anyone know how long it takes for the credit bureaus to reflect any major payments to the credit card companies?

Thanks!

Re: Payment Timelines

Anonymous — Mon, 05 Nov 2007 22:52:46 GMT

ljgsd wrote:

Hi, does anyone know how long it takes for the credit bureaus to reflect any major payments to the credit card companies?

Thanks!

Depends on when our creditors report and what balances they report.

Re: Payment Timelines

Anonymous — Mon, 05 Nov 2007 22:54:37 GMT

sometimes a couple of mos. just depends. some are instant- but I have others that have taken up to three to four mos.

Re: Payment Timelines

MidnightVoice — Mon, 05 Nov 2007 23:49:45 GMT

Most CCCs report once a month. All mine report the statement balance.

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 01:27:38 GMT

I'm seriously considering sitting down and calling every CC company and finding out the exact day they report balances. There's such a discrepancy in reporting...like do they report the same day the statements go out or do they automatically report the same day for all the accounts no matter what the account is?

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 01:34:55 GMT

You might get some useful information with that type of approach, but remember, they do not have to report at all so for those you run into a brick wall with, don't tear your hair out trying to make them comply.

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 01:59:20 GMT

That's definitely true they don't have to report.

I know this off-topic, but... (I knowingly jack threads all the time).

I wish most renters reported to CRAs. It seems as if the only time that they do report is when it's negative. Don't cell phone companies also report to CRAs?

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 02:11:38 GMT

ah yes... landlords, cable companies, utilities, and cell phone companies. These were the bills that I use to treat due dates as sacrosanct - never, never be late and a few days early is nice.

I think these types of entities report only when seriously late because that's when you owe them mone at which time it becomes a debt owed situation. Befpre then it's not really a credit/loan account. Just an agreement to pay for services.

Message Edited by Cooneyca on 11-05-2007 06:11 PM

Re: Payment Timelines

haulingthescoreup — Tue, 06 Nov 2007 02:28:57 GMT

@Anonymous wrote:
I'm seriously considering sitting down and calling every CC company and finding out the exact day they report balances. There's such a discrepancy in reporting...like do they report the same day the statements go out or do they automatically report the same day for all the accounts no matter what the account is?

I did that! Of course, I only have 5 cards from 4 issuers, so it didn't take long. I then confirmed what they said with the dates that they showed up on my near-daily TrueCredit credit reports.

I'm fortunate--all of mine report on their statement dates, usually at midnight at the end of that day. They also give a time of day deadline for an online payment to be credited that day, and again, it seems to work. (I usually pay 4-5 days before, though.)

Some people have cards that always post at the end of the month, no matter when the statement date, and others like Brammy are cursed with cards that post whenever they feel like it.

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 02:30:53 GMT

Cooneyca wrote:
Befpre then it's not really a credit/loan account. Just an agreement to pay for services.

Technically then, cell phone companies don't have PP to pull your report, yet you can't get any non-prepaid cell service from a major carrier without a credit check. I think the rationale is that if it's not prepaid, then technically it is a credit account since they are offering one month terms, so they do have PP. They just don't report becaue they don't have to, and because they would have to pay for it if they did.

Incidentally, a natural gas provider I had in an apartment I moved out of 4 1/2 years ago did report, and to this date it's still updating "OK" every month, even though it does show "closed at consumer's request."

Hey, if they want to give me little green boxes every month even though the account has been closed for years, I won't complain.

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 14:19:15 GMT

cheddar wrote:

Cooneyca wrote:

Befpre then it's not really a credit/loan account. Just an agreement to pay for services.

Technically then, cell phone companies don't have PP to pull your report, yet you can't get any non-prepaid cell service from a major carrier without a credit check. I think the rationale is that if it's not prepaid, then technically it is a credit account since they are offering one month terms, so they do have PP. They just don't report becaue they don't have to, and because they would have to pay for it if they did.

Incidentally, a natural gas provider I had in an apartment I moved out of 4 1/2 years ago did report, and to this date it's still updating "OK" every month, even though it does show "closed at consumer's request."

Hey, if they want to give me little green boxes every month even though the account has been closed for years, I won't complain.

Look at it like this, unless youo are getting a pre pay service like Cricket, yes cell phoen companies do have the right to pull your report jsut as utilities do. You are using services BEFORE being required to pay for them, therefore getting a short term loan of those services or credit.

Re: Payment Timelines

Anonymous — Tue, 06 Nov 2007 14:25:23 GMT

Brammy wrote:

cheddar wrote:

Cooneyca wrote:
Befpre then it's not really a credit/loan account. Just an agreement to pay for services.
Technically then, cell phone companies don't have PP to pull your report, yet you can't get any non-prepaid cell service from a major carrier without a credit check. I think the rationale is that if it's not prepaid, then technically it is a credit account since they are offering one month terms, so they do have PP. They just don't report becaue they don't have to, and because they would have to pay for it if they did.

Incidentally, a natural gas provider I had in an apartment I moved out of 4 1/2 years ago did report, and to this date it's still updating "OK" every month, even though it does show "closed at consumer's request."

Hey, if they want to give me little green boxes every month even though the account has been closed for years, I won't complain.

Look at it like this, unless youo are getting a pre pay service like Cricket, yes cell phoen companies do have the right to pull your report jsut as utilities do. You are using services BEFORE being required to pay for them, therefore getting a short term loan of those services or credit.

Yep, that's what I said.

Re: Payment Timelines

Anonymous — Thu, 08 Nov 2007 02:07:58 GMT

My point was that they do not report like regular creditors. They pull your credit report because everyone pulls your credit report to do anything these days. I opened a savings account and they pulled my credit report. My car insurance company pulled my credit report just to give me a quote.

With some exceptions perhaps - I've never seen it, you will only see them pop up on your credit report if you default on money they say you owe them for services or goods rendered. Technically, that may be the behavior of a creditor, but that's not what they are in the FICO world

The response I provided was in answer to the statement wishing good payments to these types of entities would show up.