topic Re: Cap 1 reporting? in Credit Cards

Cap 1 reporting?

GoodCredBen — Wed, 16 Nov 2011 19:30:07 GMT

When do they report?? I was added as an AU to my fiances account ... but it still hasnt been updates to the CR's ....

This was done like 1 1/2 - 2 weeks ago..... Is it when her bill is due?

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:34:29 GMT

@Anonymous_V wrote:
When do they report?? I was added as an AU to my fiances account ... but it still hasnt been updates to the CR's ....

This was done like 1 1/2 - 2 weeks ago..... Is it when her bill is due?

Its when the statement generates

Re: Cap 1 reporting?

GoodCredBen — Wed, 16 Nov 2011 19:35:23 GMT

so that is like a week before the bill is due? or what?

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:36:04 GMT

In my experience, about 3-5 business days after the statement date.

For example for one of my Cap One cards, my payment is due on the 2nd of each month. My statement cutoff date is the 5th. It's usually reported by the 10th.

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:42:28 GMT

@Anonymous_V wrote:
so that is like a week before the bill is due? or what?

its like 3 or 4 days after due date

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:45:12 GMT

@Anonymous wrote:
@Anonymous_V wrote:
so that is like a week before the bill is due? or what?

its like 3 or 4 days after due date

Yep. Your statement cutoff date is 3 days after the due date. Due date of the 10th means the statement cutoff is the 13th. Then it takes a few days after that to report.

Re: Cap 1 reporting?

GoodCredBen — Wed, 16 Nov 2011 19:46:59 GMT

I dont even have a due date on my new card yet lol... her due date is the 22nd.

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:53:38 GMT

@Anonymous_V wrote:
I dont even have a due date on my new card yet lol... her due date is the 22nd.

I don't think you'll have a due date specifically for your card. I have my wife and sister-in-law as AUs on my account, but they aren't responisble for the bill so I can't imagine there being a separate due date for those cards.

If her due date is the 22nd, that means her statement cutoff (the last date that transactions will show up on the statement) is the 25th. So it should report between the 27th and 31st of each month, most likely.

But keep in mind that they might do the same as with new accounts and NOT immediately start reporting to the CRAs, could take 60-90 days. Not sure if they do that with AUs or not, but that's how the actual cards work.

Re: Cap 1 reporting?

GoodCredBen — Wed, 16 Nov 2011 19:56:42 GMT

i have a brand new card from them (my own account) thats all i was speaking of

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 19:59:55 GMT

@Anonymous_V wrote:
i have a brand new card from them (my own account) thats all i was speaking of

Ohh, that makes more sense. Yeah, wait a few weeks, it'll show up there eventually. You can also change your billing cycle online (I think once every 3 months), gives you like 4 or 5 different dates to pick from.

It always makes me nervous when a card doesn't immediately report a due date, I'm afraid I'll forget to check for a week and somehow get hit with late payments.

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 20:07:33 GMT

You can actually also go in and make it any date you choose to be your due date, the option is under modify your features than select your service, may take up to 2 billing cycles to become effective

Re: Cap 1 reporting?

GoodCredBen — Wed, 16 Nov 2011 20:24:31 GMT

Your account must go through one complete billing cycle before you may change your due date. To change your due date, please come back after you’ve received your first statement. (Ref. No.10102.8134)

GRRR lol

I am on the phone with the woman right now, because i want to pay off my balance to 5 dollars (i have 45 dollars on it right now) and she says that i cant pay it off until my statement generates.....

the 40 dollar charge isnt showing up for almost 5 days now!

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 20:44:37 GMT

I just got off the phone with their Executive Office (on an unrelated matter) - he said that the statements are generated once every 30 days. There's no way for them to rush a statement,. So if I'm understanding correctly, basically you'll have to have at least 30 days of history since the card activation before your first statement would get generated - and then your due date would get generated based on that statement date).

I just changed my due date on one account from the 10th to the 5th, and he said that since there would be less than 30 days (only 25-26) for the statement, it's basically going to skip a statement and I'll receive almost 2 months worth of transactions on my statement in December. But he said that regardless, they report the card information to the CRAs once every 30 months.

But based on that, I'm guessing what'll happen with you is that you'll get your first statement about 30 days after you opened the account. Then you'll have a due date 30 days after that date. And they'll report it on your credit report shortly after that.

At least that's how I understand it.

Re: Cap 1 reporting?

Anonymous — Wed, 16 Nov 2011 22:56:08 GMT

@Anonymous_V wrote:
Your account must go through one complete billing cycle before you may change your due date. To change your due date, please come back after you’ve received your first statement. (Ref. No.10102.8134)

GRRR lol

I am on the phone with the woman right now, because i want to pay off my balance to 5 dollars (i have 45 dollars on it right now) and she says that i cant pay it off until my statement generates.....

the 40 dollar charge isnt showing up for almost 5 days now!

Do you have bill pay with your bank? if so you can push the payment from your bank to capital 1

Re: Cap 1 reporting?

Ortz33__ — Thu, 17 Nov 2011 03:50:42 GMT

the statement is generated on the STATEMENT CLOSE DATE on your account statement. if i dont have the funds to pay in full on the due date i make the minimum then pay the full balance before that date, even the day before and i've never had an issue. this is on the first page, generally near the payment due, etc. it is usually the same amount of days AFTER your due date every month. it's not the SAME day every month, because each month will have 31, 30 or 28 days, etc. make sense?

Re: Cap 1 reporting?

GoodCredBen — Thu, 17 Nov 2011 14:19:01 GMT

i want to pay it down almost immediately after the purchase is made (low limit rewards card)

and well it has taken them now 6 days to post something.

Checked today - 5 1/2 days to post a charge - Paid the card down to a 6$ balance on a 300$ CL

Re: Cap 1 reporting?

Ortz33__ — Thu, 17 Nov 2011 14:19:55 GMT

usually it's not cap1's fault or the creditor, for that matter. but the reporting agency... they are responsible for updating once they report. that's why it's reccomended that you prepare to wait 2 cycles (or months) to let it post.

Re: Cap 1 reporting?

GoodCredBen — Thu, 17 Nov 2011 14:21:46 GMT

I had one of my cap 1's (the one that was screwed up and closed in good standing after 2 months LOL) report just shortly over a month of getting the card.

SOOOO idk YMMV im sure