topic Re: Quick "?"....statement cut vs. reporting? in Credit Cards

Quick "?"....statement cut vs. reporting?

pizza1 — Tue, 04 Feb 2014 16:59:04 GMT

Hey all...

Just a quick question. I have several cards, some I use monthly, others I don't. The ones I DO use, I pif all but ONE card, and let that report 1%. My question is this...If all my cards EXCEPT ONE, are paid to $0 bal before the statement cuts, it shouldn't matter when they actually report to the CRA right??? I make sure all are at $0 but one card well before statements cuts. as long as one card reports a balance of less than 9% I don't really need to know when exactly they report right???? Thanks

Re: Quick "?"....statement cut vs. reporting?

Anonymous — Tue, 04 Feb 2014 17:14:50 GMT

As a general rule, so long as the statement closes with a $0 balance, that's what will report. It doesn't matter when it reports, but it's usually a couple ot a few days after the statement closes.

Re: Quick "?"....statement cut vs. reporting?

pizza1 — Tue, 04 Feb 2014 17:16:54 GMT

Thank you tinuviel!!! That's what I thought, but just wanted to make sure! I don't use my cards at least a week before statement cuts to make all charges and payments have posted before the statement cuts

Re: Quick "?"....statement cut vs. reporting?

BarryNTexas — Tue, 04 Feb 2014 17:39:50 GMT

Great question and thread... I need to get that info for each card yet. I don't know for sure when statement cuts on most of them. Time to get further organized.

Re: Quick "?"....statement cut vs. reporting?

09Lexie — Tue, 04 Feb 2014 18:43:35 GMT

Generally, paying before the statement cuts will carry over to the CRAs. There are some lenders that report monthly, IIRC, US Bank and DCU report the balance monthly.

Re: Quick "?"....statement cut vs. reporting?

Anonymous — Tue, 04 Feb 2014 18:50:33 GMT

Just a heads up also. I used my Chase Freedom as my reporting card in Dec. as it has the latest reporting date of any of my cards in a month. I let $40 report on the statement and paid it off the very next day. When Chase repoorted 2-3 days later, they reported the zero balance. My credit score actually dropped 7 points will all cards reporting 0. Just food for consideration.

Re: Quick "?"....statement cut vs. reporting?

-Wade- — Tue, 04 Feb 2014 18:50:38 GMT

@09Lexie wrote:
Generally, paying before the statement cuts will carry over to the CRAs. There are some lenders that report monthly, IIRC, US Bank and DCU report the balance monthly.

Once you know the date pay 3 - 5 days before they report and don't use the card untill it reports if you want a 0 bal