topic Re: 0% reporting......7 point drop!! in Credit Cards

0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 20:16:03 GMT

Chase has me dumbfounded. On 11/26 Chase reported $16 as my only card reporting a balance, thus 1% utilization. I intentionall left $40 on my Freedom card and waited until the new statement cut on 12/26 so that it would be my only card reporting a balance.

One day after the statement date, 12/27 I paid the the $40.

I just go an email alert that my score had dropped. When I logged on, Chase reported a 0 balance when the last statement clearly shows $40..

My credit score when down 7 points since 0% utilization was reported.

So much for using them as my reporting card!! A 7 point drop for not having $40 report on 60K worth of credit I really didn't want that drop with my 3X Amex coming up on 1/14, Amex's last sp'ed was on 12/24...I guess it's time to put some bubble gum on my citi card which reports on the 3rd and see if it goes back up.

Re: 0% reporting......7 point drop!!

MissCredit9 — Mon, 30 Dec 2013 20:49:30 GMT

The same thing happened with my Chase Marriott. I paid the balance after the statement cut and it still reported as 0. Is there a reason you are trying to optimize your score? If you are not apping for anything right now I wouldn't sweat it. You can always optimize next statement.

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 20:54:52 GMT

@MissCredit9 wrote:
The same thing happened with my Chase Marriott. I paid the balance after the statement cut and it still reported as 0. Is there a reason you are trying to optimize your score? If you are not apping for anything right now I wouldn't sweat it. You can always optimize next statement.

I've got an Amex 3X coming up on 1/14 so I was wanting to optimize between now and then.

Looks like a 6 pack on the way home on my Citi which reports on the 3rd., anything with a balance reports post the 14th.

Just trying to figure out Chase....if there is any r/reason to Chase

Re: 0% reporting......7 point drop!!

MissCredit9 — Mon, 30 Dec 2013 21:13:08 GMT

In my case it was a good thing... I wanted to pay off the entire balance but one of the charges hadnt gone all the way through. I ended up paying the next day after the statement cut and was actually pleasantly suprised when it reported as 0. I guess it could be considered both a good and a bad thing. I probably wouldnt gamble trying to optimize with Chase in the future given our experiences.

Re: 0% reporting......7 point drop!!

Irisa — Mon, 30 Dec 2013 21:22:55 GMT

Similar thing happened to me with Chase. They reported the balance on my statement then updated it to 0 a few days later when I paid it off. I thought that was strange. I was okay with them reporting a balance lol.

On the plus side, enjoy the 6 pack

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 21:23:19 GMT

@MissCredit9 wrote:
I I probably wouldnt gamble trying to optimize with Chase in the future given our experiences.

Yep, Chase if off the list as my optimization card, it was just so darn convenient though as it is the lastest reporting card in the month. Move over Chase, back to old reliable Citi...since it reports first in the month.

Re: 0% reporting......7 point drop!!

indiolatino61 — Mon, 30 Dec 2013 21:33:25 GMT

@Anonymous wrote:
@MissCredit9 wrote:
The same thing happened with my Chase Marriott. I paid the balance after the statement cut and it still reported as 0. Is there a reason you are trying to optimize your score? If you are not apping for anything right now I wouldn't sweat it. You can always optimize next statement.
I've got an Amex 3X coming up on 1/14 so I was wanting to optimize between now and then.

Looks like a 6 pack on the way home on my Citi which reports on the 3rd., anything with a balance reports post the 14th.

Just trying to figure out Chase....if there is any r/reason to Chase

You went from a pack of gum to a six-pack of what I presume will be beer...lol. Don't do any drapping!

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 21:33:38 GMT

@Irisa wrote:

On the plus side, enjoy the 6 pack

Thanks, hopefully gaining the 7 back by way of the 6

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 21:38:47 GMT

@indiolatino61 wrote:

You went from a pack of gum to a six-pack of what I presume will be beer...lol. Don't do any drapping!

Duh....but of course.....I'm going to look at it this way, buying the 6 on Citi will gain the 7 back so a celebration is in order !!

Re: 0% reporting......7 point drop!!

indiolatino61 — Mon, 30 Dec 2013 21:42:21 GMT

@Anonymous wrote:
@indiolatino61 wrote:

You went from a pack of gum to a six-pack of what I presume will be beer...lol. Don't do any drapping!
Duh....but of course.....I'm going to look at it this way, buying the 6 on Citi will gain the 7 back so a celebration is in order !!

Then Cheers, my friend...Happy New Year!!!!

Re: 0% reporting......7 point drop!!

Irisa — Mon, 30 Dec 2013 21:49:09 GMT

@Anonymous wrote:
@Irisa wrote:

On the plus side, enjoy the 6 pack
Thanks, hopefully gaining the 7 back by way of the 6

Gotta love that kind of credit math.. Cheers!

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 22:05:05 GMT

@indiolatino61 wrote:
@Anonymous wrote:
@indiolatino61 wrote:

You went from a pack of gum to a six-pack of what I presume will be beer...lol. Don't do any drapping!
Duh....but of course.....I'm going to look at it this way, buying the 6 on Citi will gain the 7 back so a celebration is in order !!
Then Cheers, my friend...Happy New Year!!!!

Thanks, you too my friend !!

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 30 Dec 2013 22:06:27 GMT

@Irisa wrote:
@Anonymous wrote:
@Irisa wrote:

On the plus side, enjoy the 6 pack
Thanks, hopefully gaining the 7 back by way of the 6
Gotta love that kind of credit math.. Cheers!

I'm a CPA so 1 + 1 equals.......what do you need it to be??

Re: 0% reporting......7 point drop!!

LearningMoreAboutCredit — Tue, 31 Dec 2013 02:34:53 GMT

@Anonymous wrote:
Chase has me dumbfounded. On 11/26 Chase reported $16 as my only card reporting a balance, thus 1% utilization. I intentionall left $40 on my Freedom card and waited until the new statement cut on 12/26 so that it would be my only card reporting a balance.

One day after the statement date, 12/27 I paid the the $40.

I just go an email alert that my score had dropped. When I logged on, Chase reported a 0 balance when the last statement clearly shows $40..

My credit score when down 7 points since 0% utilization was reported.

So much for using them as my reporting card!! A 7 point drop for not having $40 report on 60K worth of credit I really didn't want that drop with my 3X Amex coming up on 1/14, Amex's last sp'ed was on 12/24...I guess it's time to put some bubble gum on my citi card which reports on the 3rd and see if it goes back up.

There are at least 3-5 days between statement closing date and reporting date...that's why it reported a $0 bal. If you want Chase or any other card to be your reporting card, you have to give it time to report the balance you want reported. That means you'll need to know these dates as they are hardly the same but YMMV.

Re: 0% reporting......7 point drop!!

Anonymous — Tue, 31 Dec 2013 20:57:57 GMT

@LearningMoreAboutCredit wrote:
There are at least 3-5 days between statement closing date and reporting date...that's why it reported a $0 bal. If you want Chase or any other card to be your reporting card, you have to give it time to report the balance you want reported. That means you'll need to know these dates as they are hardly the same but YMMV.

Yep, I just figured they would report the statement balance. I've never had a card, ofther than Chase, do this. That's the first time I cut it that close with Chase, I'll know better next time. Anyway, I spent $9 on Citi for 6 on the way home yesterday in hopes of recovering the 7 when they report on 1/3 before Amex sp's again

Re: 0% reporting......7 point drop!!

LearningMoreAboutCredit — Wed, 01 Jan 2014 00:50:35 GMT

@Anonymous wrote:
@LearningMoreAboutCredit wrote:
There are at least 3-5 days between statement closing date and reporting date...that's why it reported a $0 bal. If you want Chase or any other card to be your reporting card, you have to give it time to report the balance you want reported. That means you'll need to know these dates as they are hardly the same but YMMV.
Yep, I just figured they would report the statement balance. I've never had a card, other than Chase, do this. That's the first time I cut it that close with Chase, I'll know better next time. Anyway, I spent $9 on Citi for 6 on the way home yesterday in hopes of recovering the 7 when they report on 1/3 before Amex sp's again

Yeah it will rebound as FICO has no memory in regard to overall utilization...

Re: 0% reporting......7 point drop!!

Anonymous — Wed, 01 Jan 2014 10:28:27 GMT

Interesting info. I know my best score with my present credit file is 1.5% utilization. Funny how 0% dings us and too much dings us. Each credit file is different. As to cutoffs, I changed several of my accounts to different times during the month so I could maximize the score.

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 06 Jan 2014 03:31:05 GMT

Citi just reported a $9 balance for a six pack and my scores rebounded exactly 7 points....so yep, all reporting 0 is worse than one card reporting 1%. With 60K of CLs, next month, I'm going to have 4% of total CL report on a 20K card and see what happens. I justed checked and Amex has not sp'ed since Dec 24th so we'll see what happens come 3x time in 1/14. Pretty nice, go buy a six pack and my scores go up

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 06 Jan 2014 03:33:01 GMT

I came to this thread for the 6 pack...

Re: 0% reporting......7 point drop!!

Anonymous — Mon, 06 Jan 2014 03:38:33 GMT

@Anonymous wrote:
I came to this thread for the 6 pack...

Too late, the 6 are already gone.....but I do have the 7......