topic Re: Utilization.... in Credit Cards

Utilization....

CAnNY — Mon, 09 Dec 2013 05:12:38 GMT

I may have messed up. I was not paying attention and charged something today 12/08 on my CC just before midnight. My statement closes also on the 8th. Will this pending charge show on my statement now? My cc usually reports the balance that is on the card on the statement date, so will the charge also report to the CRA?

Dnag it!

Re: Utilization....

B335is — Mon, 09 Dec 2013 05:19:23 GMT

What kind of card is it? Some are faster than others at posting charges. I highly doubt it's going to post within a day, but nothing is 100%

Re: Utilization....

FinStar — Mon, 09 Dec 2013 05:19:26 GMT

@CAnNY wrote:
I may have messed up. I was not paying attention and charged something today 12/08 on my CC just before midnight. My statement closes also on the 8th. Will this pending charge show on my statement now? My cc usually reports the balance that is on the card on the statement date, so will the charge also report to the CRA?

Dnag it!

It depends on the lender. More often than not, until the transaction posts (i.e. clears through the batch process) it may still take another 24-48 hours to post on your account, which would still reflect the transaction date as 12/8. So it's possible your statement will generate (likely in the wee hours) without including that transaction.

You can check first thing in the morning to see what displays as your next balance as an indicator. Which lender was this and did you currently have a balance on the card, besides the transaction of 12/8?

Re: Utilization....

djc1puno — Mon, 09 Dec 2013 05:56:19 GMT

@FinStar wrote:
@CAnNY wrote:
I may have messed up. I was not paying attention and charged something today 12/08 on my CC just before midnight. My statement closes also on the 8th. Will this pending charge show on my statement now? My cc usually reports the balance that is on the card on the statement date, so will the charge also report to the CRA?

Dnag it!
It depends on the lender. More often than not, until the transaction posts (i.e. clears through the batch process) it may still take another 24-48 hours to post on your account, which would still reflect the transaction date as 12/8. So it's possible your statement will generate (likely in the wee hours) without including that transaction.

You can check first thing in the morning to see what displays as your next balance as an indicator. Which lender was this and did you currently have a balance on the card, besides the transaction of 12/8?

+1 Fin

most likely it will be on the new statement

Re: Utilization....

CAnNY — Mon, 09 Dec 2013 06:53:41 GMT

It was a zero balance since I normally pay the card in question in full prior to the statement date. CCC is NFCU.

Re: Utilization....

JediNeo — Mon, 09 Dec 2013 07:46:14 GMT

Are you planning to apply for new credit soon? If not I wouldn't worry too much about it. If it does bother you can you make an online payment now so they will post at the same time? I know some CCC don't allow payment of there is no balance or payment is higher than current balance.