topic Re: Chase updating balances prior to statement cut? in Credit Cards

Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 19:08:12 GMT

I just paid off my Ritz card on Monday, which was the due date.

On 2/18, Chase reported the 0 balance to Experian. Haven't seen EQ and TU update yet. Statement has yet to generate however and will not be generated until the 20th. Called CS to verify and they said my statement will cut on the 20th, but is unsure with regards to the balance reporting date with the CRAs.

Did Chase change their policies, or is this is just a one-time weird timing due to the lesser number of days in Feb? I went through my CR 3 times to make sure I wasn't looking at the wrong account. My due dates for the CSP and Freedom are still a few days away, but I paid off everything today just to be on the safe side.

If anyone knows anything about this please let me know. I may apply for some cards in April so I wouldn't want balances reporting next cycle. Both CSRs that I have spoken to are clueless about it.

Re: Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 19:57:08 GMT

Hmm. Interesting, none of mine have reported early this month. UMPE, CSP or Freedom

Re: Chase updating balances prior to statement cut?

emptypockets — Wed, 19 Feb 2014 20:16:36 GMT

My CSP reported early this month as well. I had a 0% BT on the card for a couple months, and PIF'd on 2/3/14. Chase updated the account to a Zero Balance on 2/6/14. The regular statement date for this account cut on 2/16/2014. I got a regualr statement, as scheduled. I assumed that mine reported early because I paid in full.

Re: Chase updating balances prior to statement cut?

-NewGuy- — Wed, 19 Feb 2014 20:19:58 GMT

That's very interesting. My freedom posted a few days after statement cuts like it always does.

Re: Chase updating balances prior to statement cut?

newUser0 — Wed, 19 Feb 2014 20:27:15 GMT

I paid my Freedom, as soon as my statement cut. It reported correct balance to all 3 CB.

Re: Chase updating balances prior to statement cut?

DavidZeng — Wed, 19 Feb 2014 20:29:37 GMT

My freedom reported twice a billing cycle, one around 9th, one after 19th, which is my cut date!

Re: Chase updating balances prior to statement cut?

dodgerslv — Wed, 19 Feb 2014 20:30:59 GMT

@Anonymous wrote:
I just paid off my Ritz card on Monday, which was the due date.

On 2/18, Chase reported the 0 balance to Experian. Haven't seen EQ and TU update yet. Statement has yet to generate however and will not be generated until the 20th. Called CS to verify and they said my statement will cut on the 20th, but is unsure with regards to the balance reporting date with the CRAs.

Did Chase change their policies, or is this is just a one-time weird timing due to the lesser number of days in Feb? I went through my CR 3 times to make sure I wasn't looking at the wrong account. My due dates for the CSP and Freedom are still a few days away, but I paid off everything today just to be on the safe side.

If anyone knows anything about this please let me know. I may apply for some cards in April so I wouldn't want balances reporting next cycle. Both CSRs that I have spoken to are clueless about it.

you are not the only one it has happned to enharu. Anytime i payoff any of my chase cards down to 0 it updates it on my CRs which had a previous balance reporting of course. It started for me a couple of months ago. Noticed that if the statement reported a balance on my CR and then paid it down completely before next cycle, it would updated on the reports.

Re: Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 20:40:39 GMT

Same here. I've seen multiple reports by Chase, but only when I've paid the balance to $0 before the statement date. And then Chase always seems to update again on the statement date. It's nice that they only report $0 mid-cycle, but worrisome if they decide to randomly report when there might be a balance.

Re: Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 20:49:44 GMT

I guess I'm not that lucky! Paid off the UMPE middle of last month and it updated as usual, around the 3rd of the month.

Re: Chase updating balances prior to statement cut?

sghosh5 — Wed, 19 Feb 2014 21:29:05 GMT

I noticed this earlier with my Freedom card. Statement cuts on 27th but when i checked Equifax report about a week before that date, it was already showing the new balance that i used in that statement period and paid off.

Again when my United MileagePlus card reported for the first time on all credit bureau report it reports a high balance. I paid of 2 days after. And next day I got a notification from MyFICO Equifax report that the new balance is zero on this card. Are they reporting real time?

Re: Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 21:38:04 GMT

Chase's policy has changed a bit.

I talked to a CSR and she said that from Nov 19, 2013, anytime your balance becomes 0, we'll report it to the bureaus. Pretty cool.

Re: Chase updating balances prior to statement cut?

Anonymous — Wed, 19 Feb 2014 23:50:50 GMT

Ah I see. Thanks for the explanations! The CSRs I spoke to were clueless about the new policy. Its nice they are doing this. Now I can just use my Chase cards without having to divert spending elsewhere when I'm trying have zero balances reporting.

Thanks once again!

Re: Chase updating balances prior to statement cut?

newUser0 — Thu, 20 Feb 2014 00:02:21 GMT

Are they doing this for selected group of customers?

I have never experienced this.

Re: Chase updating balances prior to statement cut?

Anonymous — Thu, 20 Feb 2014 08:37:34 GMT

Well I "modified" my payments earlier today to test something out.

Chase Freedom now has approx negative 15 dollars balance. Overpaid a little to take care of a pending charge, but guess that charge still isn't posting yet. No updates on EX yet. Maybe the balance has to be specifically at 0 for it to update?

Also postponed my payment on my CSP, and made an additional reservation via Chase UR travel for Vegas. I've charged about 10k above my CL now, and none of the charges have been declined. Chase has yet to call me either. I have the payment set to clear on the 21st, so I may try to squeeze a few more charges in just to see how much more they'll let me go over.

Re: Chase updating balances prior to statement cut?

noobody — Thu, 20 Feb 2014 09:00:10 GMT

That make complete sense, I had balance on 2 of my chase cards, pay them off a few days after statement cut, and it shows 0 balance on my CK report, I was wondering is there something wrong with TU or CK?

Re: Chase updating balances prior to statement cut?

Anonymous — Thu, 20 Feb 2014 12:34:04 GMT

if Chase is reporting zero balances this way, does this make this bad? I'm trying to understand here as I head toward my first statement cut on March 1st. Want to make sure I can pay that down to <9%, have it report, and then PIF without having Chase somehow report a 0% to credit agencies.

Re: Chase updating balances prior to statement cut?

Anonymous — Thu, 20 Feb 2014 23:17:52 GMT

Minor update: Chase Freedom also reported 0 balance to EX ahead of statement cut date. Technically the account has a negative balance, but I guess as long as its at or below 0 balance, they'll report it.