topic Re: US Bank reported mid-statement after large purchase in Credit Cards

US Bank reported mid-statement after large purchase

andre181 — Thu, 09 May 2013 23:21:53 GMT

I just checked my EX report and noticed that US Bank reported early showing a balance of $268 after I made a purchase at Best Buy. Statement doesn't close until May 19.

I'm not worried as my util is still very low. With almost 100k in limits, PIF before the statement closes is not really necessary for me anymore. But its just annoying that they are starting to do this.

Re: US Bank reported mid-statement after large purchase

KIPPIE12 — Thu, 09 May 2013 23:30:47 GMT

The very same thing happened to me with BOA. Seems a little sneaky, but they can do it. Maybe a new tactic from the larger issuers, mid-cycle reporting?

Re: US Bank reported mid-statement after large purchase

ztnjpv — Thu, 09 May 2013 23:39:28 GMT

I went thru this with US Bank over the phone. I was a learning exdperience for the CSR as well since she was totally unaware of these little details. From what I could gather, my Cash + reports around the 2nd of the month (whatever the balance is around 6 or 7 or 8 pm CST) whereas my statement closes around the 7th.

Plan ahead...

Re: US Bank reported mid-statement after large purchase

Anonymous — Thu, 09 May 2013 23:47:33 GMT

Yes, this isn't new for US Bank. Frequently mentioned as one of the exceptions who report mid cycle.

Re: US Bank reported mid-statement after large purchase

Anonymous — Fri, 10 May 2013 00:25:00 GMT

@ztnjpv wrote:
I went thru this with US Bank over the phone. I was a learning exdperience for the CSR as well since she was totally unaware of these little details. From what I could gather, my Cash + reports around the 2nd of the month (whatever the balance is around 6 or 7 or 8 pm CST) whereas my statement closes around the 7th.

Plan ahead...

They're pretty smart and probably figured doing that will speed up cash flow from their more educated cardholders.

Re: US Bank reported mid-statement after large purchase

jamesdwi — Fri, 10 May 2013 00:33:20 GMT

Did the Best Buy purchase post first? Does anyone consider $268 a large purchase if you have a 10k CL? Its about 3/10ths of a percent of your CL. I would have to think its more of an a random occurance at that level of spending vs your CL.

Re: US Bank reported mid-statement after large purchase

andre181 — Fri, 10 May 2013 00:42:32 GMT

I'm a pretty frugal person so this was a somewhat large purchase compared to my normal spending on this card. This was easily in the top 5 largest purchases that have gone on this card.

Re: US Bank reported mid-statement after large purchase

CribDuchess — Fri, 10 May 2013 03:58:45 GMT

Wow, this is something I did not expect to be reading! Thank you for sharing! So far they have not done this to me (knocking on wood). I have made some rather large purchases in the past, such as a new furnace that was almost $4,000. They have only reported my balance as of the last business day each month and they have been very consistent with this practice thus far. Now I'm getting nervous!

Re: US Bank reported mid-statement after large purchase

Anonymous — Fri, 10 May 2013 04:24:09 GMT

Mine seem to report around the due date instead of the statement date.

Re: US Bank reported mid-statement after large purchase

noobody — Fri, 10 May 2013 04:35:53 GMT

it has nothing to do with "large" purchase

nothing to do with due date or statement closing date either

they report account status on last bussiness day of each month, it is different than most other banks

if you want them to report low balance, pay off before end of month, regardless when the statement close.

Re: US Bank reported mid-statement after large purchase

andre181 — Fri, 10 May 2013 05:28:44 GMT

@noobody wrote:
it has nothing to do with "large" purchase

nothing to do with due date or statement closing date either

they report account status on last bussiness day of each month, it is different than most other banks

if you want them to report low balance, pay off before end of month, regardless when the statement close.

I didn't make the purchase until May 4th. And they've always reported at the close of the statement for me, not at the end of the month.

But like I said, I'm not terribly concerned about this. My util can handle it.

I'm just posting this so people are aware the US Bank appears to be doing some irregular reporting, at least for me. I'd never seen others report that US Bank is doing this, but it seems I'm wrong.

Re: US Bank reported mid-statement after large purchase

Anonymous — Fri, 10 May 2013 06:22:50 GMT

They always report my balance right around the 3rd or 4th. Which is when my bill is due.

Re: US Bank reported mid-statement after large purchase

Anonymous — Fri, 10 May 2013 12:18:58 GMT

my bill is due on the 19th.

US Bank reported my balance on April 30th 2013. This might be due to the fact it's a brand new account though.

I'll check again to see if it reports on or around due date.

Creditkarma now has a neat feature. It now tells you when was your credit card balance last updated.

The last updated date is the date your balances were reported to CRAs.

Finally.........something I like about the new layout.