topic Re: CC reported balance before statement date & my fico score dropped!!! in Understanding FICO® Scoring

CC reported balance before statement date & my fico score dropped!!!

getahead — Thu, 05 Jan 2012 21:26:26 GMT

Has anyone had their CCC report a balance before the statement date? My next statement date is 1/10/12 & I received a SW alert stating my balance on my CC & it dropped my score 53pts!! I'm so upset, because I normally pay it off before the statement cuts but used it heavily this past momth, I just PIF but it didn't report yet. WTH? anyone had the same experience?

I check online with the CCC & the new statement did not even print yet? I'm so confused, here I was making progess & now this

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Thu, 05 Jan 2012 21:47:37 GMT

@getahead wrote:
Has anyone had their CCC report a balance before the statement date? My next statement date is 1/10/12 & I received a SW alert stating my balance on my CC & it dropped my score 53pts!! I'm so upset, because I normally pay it off before the statement cuts but used it heavily this past momth, I just PIF but it didn't report yet. WTH? anyone had the same experience?

I check online with the CCC & the new statement did not even print yet? I'm so confused, here I was making progess & now this

The score drop is temporary. Next month when the new PIF balance reports on your statement you'll get those points back. I wouldn't give this another thought.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: CC reported balance before statement date & my fico score dropped!!!

getahead — Thu, 05 Jan 2012 21:56:07 GMT

what a relief to hear, here I am rebuilding my scores to buy a home in the summer & this was just devastating. So its normal for the CCC to report before the statement cut off date?

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Thu, 05 Jan 2012 22:03:15 GMT

@getahead wrote:
what a relief to hear, here I am rebuilding my scores to buy a home in the summer & this was just devastating. So its normal for the CCC to report before the statement cut off date?

I don't think I've ever had that happen to me but I know that's small comfort to you right now. Hopefully this is just a one time glitch. You might call the creditor and voice your concerns over this.

Re: CC reported balance before statement date & my fico score dropped!!!

GregB — Thu, 05 Jan 2012 22:40:50 GMT

I have seen it happen a few times and it happened once to me. It seemed to happen when the CCC was changing something in their system. In each case it was followed by the normal reporting after the statement date. That is, it was an EXTRA reporting on a certain date in addition to the normal reporting.

I'm guessing your score will go back up shortly.

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Thu, 05 Jan 2012 22:44:34 GMT

It has happened multiple times with my Orchard and CU cards. What card reported the balance early?

Re: CC reported balance before statement date & my fico score dropped!!!

getahead — Thu, 05 Jan 2012 22:54:23 GMT

its was a Cap1 card, & come tho think of it I did do a dispute to clear my one of my 30 day late pay, so maybe it was because they recently reported to the dispute. Thank you all for your answers, I will watch & wait for another SW alert for a higher score again.

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Fri, 06 Jan 2012 15:47:27 GMT

@getahead wrote:
its was a Cap1 card, & come tho think of it I did do a dispute to clear my one of my 30 day late pay, so maybe it was because they recently reported to the dispute. Thank you all for your answers, I will watch & wait for another SW alert for a higher score again.

That sounds about right I sent a GW letter to one of my CCC and they updated my CR based on the date of their correspondence.

Re: CC reported balance before statement date & my fico score dropped!!!

getahead — Tue, 10 Jan 2012 07:01:49 GMT

Hi Marinevietvet,

I posted earlier on my big score drop, do you think I've been rebucketed? I disputed a 30 day late pay, which I didnt win & also disputed a paid tax lien, which miracously got deleted. My 53 pt score drop could be because they rebucketed me? Well, I also did use my cards alot during the holiday so when EQ updated my dispute it reported my high balance. Well, I since then PIF & waiting for an increase in pts when it reports.

What do you think, rebucket? I hope if it is EQ put me in a higher bucket due to the lien being deleted. Thank you in advance

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Tue, 10 Jan 2012 08:03:33 GMT

@getahead wrote:
Hi Marinevietvet,

I posted earlier on my big score drop, do you think I've been rebucketed? I disputed a 30 day late pay, which I didnt win & also disputed a paid tax lien, which miracously got deleted. My 53 pt score drop could be because they rebucketed me? Well, I also did use my cards alot during the holiday so when EQ updated my dispute it reported my high balance. Well, I since then PIF & waiting for an increase in pts when it reports.

What do you think, rebucket? I hope if it is EQ put me in a higher bucket due to the lien being deleted. Thank you in advance

IMO it wasn't rebucketing and I think it was because your utilization jumped up over the holidays. When the utilization goes back down I think you'll see a bump. Do you have any other negatives such as liens, BKs, or judgments reporting?

One other thing. If you're planning on buying a home stop applying for any new credit. Applications for other credit makes mortgage lenders very nervous.

Tell him to stop applying!!! Going app nuts just a few months before mortgage shopping.

Re: CC reported balance before statement date & my fico score dropped!!!

getahead — Tue, 10 Jan 2012 18:07:48 GMT

there was only that 1 state lien on my EQ, which they deleted & 1 30 day late on my cc 1.5yrs ago. How far in advance shall i not app for any cards, my last app was on 1/5/12. I'm planning on buying a home in July/Aug & don't plan on app'ing anymore.

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Tue, 10 Jan 2012 18:14:44 GMT

@getahead wrote:
there was only that 1 state lien on my EQ, which they deleted & 1 30 day late on my cc 1.5yrs ago. How far in advance shall i not app for any cards, my last app was on 1/5/12. I'm planning on buying a home in July/Aug & don't plan on app'ing anymore.

I have seen advice not to apply for any new credit from 6-12 months before the mortgage process is started. I think your plan not to apply anymore is an excellent one!

Re: CC reported balance before statement date & my fico score dropped!!!

Duke-of-Earl — Wed, 11 Jan 2012 06:34:01 GMT

@getahead wrote:
Has anyone had their CCC report a balance before the statement date? My next statement date is 1/10/12 & I received a SW alert stating my balance on my CC & it dropped my score 53pts!! I'm so upset, because I normally pay it off before the statement cuts but used it heavily this past momth, I just PIF but it didn't report yet. WTH? anyone had the same experience?

Happened to me twice, an unexpected mid-cycle report, both times on a BofA CC. I usually pay off the balance before the billing cycle closes, like you do, and it did screw that up for me. But as others have suggested, it went back to normal at the expected normal statement closing.

I called CS each time, got escalated a few stages, finally found someone who knew what I was talking about. Same reason as what GregB reported: major upgrade (trying to simulate the CS honcho's breathless tone) to their software.

Re: CC reported balance before statement date & my fico score dropped!!!

Anonymous — Thu, 12 Jan 2012 16:22:01 GMT

It has happened to me twice as well both cases by BoA 1 was sometime in september of last year when I was looking for mortgage and the other was just last week. The first time around I called them and they went round and round. They did update it to reflect my current balance as they won't go back to my older balance so once you have it paid to where you want it you can always call them and dispute it. i.e if BoA is the culprit

Re: CC reported balance before statement date & my fico score dropped!!!

getahead — Fri, 13 Jan 2012 00:20:05 GMT

I'm still waiting for the Cap1 to report my new balance so I can see the increase in score, I really hope this is what caused my score to drop a mere 53pts! I also PIF my sam's club credit & Walmart card, crossing fingers.

Re: CC reported balance before statement date & my fico score dropped!!!

mtrsprt — Sun, 15 Jan 2012 10:41:33 GMT

@getahead wrote:
I'm still waiting for the Cap1 to report my new balance so I can see the increase in score, I really hope this is what caused my score to drop a mere 53pts!

53 points??? How much did it change your utilization??????? Geezus.........