topic Re: Date U.S. Bank Reports to CRA? in Credit Cards

Date U.S. Bank Reports to CRA?

Anonymous — Sat, 30 Oct 2010 15:55:40 GMT

Can anybody tell what date they report to the CRA's? I called them and all I could get was that the staement date changes each month. Last month was the first month I had it and I had it paid in full by the statement date and it still reported the balance I had before I PIF. Is it the last day of the month like HSBC or last Business day of the month? Thanks for your help

Re: Date U.S. Bank Reports to CRA?

emoticon — Sat, 30 Oct 2010 18:22:59 GMT

Mine reports the balance due about a week after the statemnt date. For example, if my statement is issued on the October 27, my credit report shows the info on about November 4. All my other cards report either the same day or a day afterwards. In my two-year experience with U.S. Bank, they've been slow to reflect payments made and report to the CRAs.

Re: Date U.S. Bank Reports to CRA?

Anonymous — Sun, 31 Oct 2010 02:43:30 GMT

Hmmmm. My statement showed a $2.00 balance and my credit report said $225.00 which is what I paid them about 4 days before the statement cut. They said the statement will cut on the 3rd this month so I'll see what they report this time. Thank you for responding.

Re: Date U.S. Bank Reports to CRA?

Anonymous — Sun, 31 Oct 2010 02:47:28 GMT

@Anonymous wrote:
Can anybody tell what date they report to the CRA's? I called them and all I could get was that the staement date changes each month. Last month was the first month I had it and I had it paid in full by the statement date and it still reported the balance I had before I PIF. Is it the last day of the month like HSBC or last Business day of the month? Thanks for your help

I don't have a USBank card (wish I did!) but my recollection is that yes, they do report the last day (or last business day) of the month like HSBC.

I think there's a few threads here where folks have discussed it......a search might help.

I did have an HSBC card and had a dickens of a time figuring them out - I think I learned their reporting ways from these threads as well. Once I knew what was going on, I could manage the account properly, but it took me a few months to figure out what was going on. No help from the CSR's there, either.

At any rate, I'm pretty sure the answer to your question is yes - USBank reports the last (business) day of the month.

Re: Date U.S. Bank Reports to CRA?

Anonymous — Sun, 31 Oct 2010 12:47:33 GMT

Great, I missed it again. Oh well, I'll try to get it paid in full before the last business day of the month next month. Thanks for your help.

Re: Date U.S. Bank Reports to CRA?

IOBA — Sun, 31 Oct 2010 22:32:26 GMT

With most of my cc's I have a billing cycle and a statement cycle.

With one of them, the billing cycle ends on the 19th (payment due by) and the statement cycle ends the 24th (when the interest will show up on the statement and there is a definite start of a new cycle). For my cards to report the lower balance, I make sure they are paid BEFORE the billing cycle ends. I always give them a few days to accept/to record the payment before the billing cycle ends.

Hope that helps!

Re: Date U.S. Bank Reports to CRA?

IOBA — Sun, 31 Oct 2010 22:33:10 GMT

PS - for a while there, some cc's were reporting weekly to the CRA (like Discover card was if you had a balance).

Re: Date U.S. Bank Reports to CRA?

Anonymous — Sun, 31 Oct 2010 22:51:38 GMT

@IOBA wrote:
With most of my cc's I have a billing cycle and a statement cycle.

With one of them, the billing cycle ends on the 19th (payment due by) and the statement cycle ends the 24th (when the interest will show up on the statement and there is a definite start of a new cycle). For my cards to report the lower balance, I make sure they are paid BEFORE the billing cycle ends. I always give them a few days to accept/to record the payment before the billing cycle ends.

Hope that helps!

I think referring to your due date as a billing cycle is confusing and just wrong. And in most cases, the balance at the end of the statement cycle is reported, rather than the balance due at the due date.

Re: Date U.S. Bank Reports to CRA?

IOBA — Sun, 31 Oct 2010 23:09:19 GMT

Not trying to confuse anyone.

Call it what you want....if my payment is due the 19th, it's due the 19th. If it's paid the 20th, it's late. That statement will continue to show new charges up until the statement cycle ends on the 24th. Any charges made on the 25th will show on a new statement.

If I want the cc to report a zero balance, I make sure the balance is paid off BEFORE the payment is due (on that card, several days before the 19th so there is time for the payment to be accepted and to record). And I try not to make charges in the in between time of the 19th and the 24th.

Re: Date U.S. Bank Reports to CRA?

Gotons — Mon, 01 Nov 2010 13:36:55 GMT

My US Bank secured card always reports on the first of each month and my statement was cut on the 21st. Over the last few months, my statement date has varied between the 21st, 22nd, and 23rd and has always reported on the first. I had a 0 balance until midnight tonight when $7 was charged to my account and it reported the $7, so go figure.

Re: Date U.S. Bank Reports to CRA?

haulingthescoreup — Mon, 01 Nov 2010 14:43:20 GMT

@Gotons wrote:
My US Bank secured card always reports on the first of each month and my statement was cut on the 21st. Over the last few months, my statement date has varied between the 21st, 22nd, and 23rd and has always reported on the first. I had a 0 balance until midnight tonight when $7 was charged to my account and it reported the $7, so go figure.

US Bank is one of the very few banks (including HSBC and Orchard bank cards) that reports the balance as of the last business day of each month, rather than the balance on the statement.

Unlike HSBC and Orchard, it reports this info immediately.

Re: Date U.S. Bank Reports to CRA?

Gotons — Mon, 01 Nov 2010 14:46:38 GMT

I stand corrected. The $7 was charged on the last business day of October!

Re: Date U.S. Bank Reports to CRA?

haulingthescoreup — Mon, 01 Nov 2010 14:59:59 GMT

Not trying to correct!

It's just confusing to have these three banks (and probably some local banks/ CU's somewhere) update on a different schedule from all the others. Just when we think we've figured it out...

Re: Date U.S. Bank Reports to CRA?

Gotons — Mon, 01 Nov 2010 15:02:04 GMT

I definitely don't mind being corrected! haha. The better the information out there...well....the better.

Re: Date U.S. Bank Reports to CRA?

Anonymous — Thu, 11 Nov 2010 23:36:50 GMT

I have 2 USBank cards (with different statement dates) so I can definitely tell you that they report the balance as it stands on the last day of the month. Typically this showed up on Experian first for me on about the 4th-7th day of the next month. However, USBank is being really weird these past couple of months. October JUST showed up on my reports at the beginning of November. Of course this happens right as I'm waiting for a big balance to turn into a zero balance Always seems to be the case!

Re: Date U.S. Bank Reports to CRA?

Anonymous — Fri, 12 Nov 2010 06:39:05 GMT

Last business day of the month is correct. This holds true for both U.S. Bank's credit cards and Lines of Credit, if I'm recalling correctly.