topic Re: Credit Card Reporting Dates in General Credit Topics

Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 17:36:26 GMT

Hello Everyone,

I'd like to see if we can put together a little list here of Credit Card Reporting Dates--you know, the Reporting Date is not your credit card Statement date, but the date that the Credit Card Companies report to the three Credit Agencies--Transunion, Equifax, and Experian. I will start by listing three Credit Card companies which I have cards with and the dates they report to the Credit Agencies. I would much appreciate people adding info. The info I am listing I have verified with several employees at each Card company.

Orchard Bank (HSBC)--Reports Credit Limit, Reports Balance the Last Thursday of every month.

Capital One -- Does not report credit limit ("but will start to by end of this year"). Reports High Balance and Balance on the Last Day of Every Month.

American Express -- Reports Credit Limit (green, gold, platinum and black cards do not report limit). Reports balance on the 16th of every month.

Ideally, we should all make sure we are utilizing less then 10% of our credit limits, and that our good behavior is reported to the agencies at the right time. I've been doing this for the past 3 months and my score has climbed. Note that each of those companies has a different system. If we properly understand the system, we can work it to our best advantage.

Re: Credit Card Reporting Dates

MidnightVoice — Mon, 25 Jun 2007 17:41:03 GMT

rifleman wrote:

I'd like to see if we can put together a little list here of Credit Card Reporting Dates--you know, the Reporting Date is not your credit card Statement date, but the date that the Credit Card Companies report to the three Credit Agencies--Transunion, Equifax, and Experian.

I don't actually care when they report, it is what thay report. All of mine report the statement balance - so the actual date that is reported does not matter. If I want to keep util down, it is my personal statement date that matters, and I have been monitoring those and have actually altered one so that I can partially pay off before the statement date.

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 17:43:19 GMT

correct--I should have titled this thread:
"When and What the Credit card companies report"

It's important to know both things--it can be hard to get to the bottom of it, because most employees don't know the answers and you frequently need to speak with a supervisor to get the right info

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 17:46:01 GMT

All my cc's report with in 10 days of closing dates.

This is just for me. Probably different for everyone.
B of America 5th
Citi 7th
Chase 4th
Amex 18th
Discover 8th
I lost track of my other cards. They all report between the 5th and 10th except amex who reports on the 18th. It varies month to month. EX post updates right away, EQ and TU are slower.

They all report past bal, recent payment, history, cl, minimum due. Citi however doesn't report payment amount just bal for me.

Message Edited by ilovepizza on 06-25-2007 10:46 AM

Re: Credit Card Reporting Dates

MidnightVoice — Mon, 25 Jun 2007 17:45:41 GMT

rifleman wrote:
correct--I should have titled this thread:
"When and What the Credit card companies report"

It's important to know both things--it can be hard to get to the bottom of it, because most employees don't know the answers and you frequently need to speak with a supervisor to get the right info

During my month of Truecredit I worked it out And they reported the statement balance in every case, even if they had recieved money after the statement and before they reported.

It is the easiest way for the computer to do it

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 18:07:27 GMT

Capital One reported on 6/19 for my account, which is also the statement closing date.

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 18:15:11 GMT

So for those of you that are established AMEX users, are you able to pay off the balance of your card before the statement date so that a high balance is not reported? Please see my post way down below, I'm confused about why I can't make a payment and now I'm worried I'm going to have a major ding on my report.

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 19:05:13 GMT

The customer service reps @ AMEX told me that all account report on the 16th of the month, and they report the balance of the account on that day--not the balance during your statement.

Re: Credit Card Reporting Dates

Anonymous — Mon, 25 Jun 2007 19:06:28 GMT

Thank you so much for your help, that's what I was hoping to hear!

Re: Credit Card Reporting Dates

wingwalker — Tue, 26 Jun 2007 03:46:22 GMT

I've made a minor study of this during the past few months, after getting burned on util, esp. by HSBC. The Amex reporting date is actually the last business day of each month, but they report the statement balance from whenever your statement closes (in my case, between the 19-21st).

Orchard reports the last business day of the month, BUT you have to pay it down the morning BEFORE that date. This reporting date is irrespective of the actual closing date (mine is the 4th and 8th, respectively).

However, HSBC reports the closing balance from the statement date for former Direct Merchants Bank MC, and doesn't follow the Orchard formula (yet).

USBank (for me, Harley-Davidson Visa) follows the same formula as Orchard - reports the balance as it stands the last business day of the month, but you have to pay it down the day before that. In my case, too, I got a CLI on the statement date, but it didn't reflect on my report till the next month. (Double burn)

Cap1 reports the statement closing balance, which is also the due date (except for last month, when they adjusted it out five days, really screwing up my util because I didn't ask about the closing date. I Assumed.)

Merrick Bank and Hooters also reports the balance the last business day of the month, and pay it the day before for it to count. Merrick also can hold the available funds unless you call them to verify with the bank that the payment cleared. Some banks won't do this in the 800-call center, but your branch probably will on a conference call.

WAMU has a very short due date to closing date cycle, usually two to three days max, but they report right away.

State Farm Visa, for me closes on the 26th each month, but for the payment to count, you have to phone it in. Web payments may post later.

Citi is wonderful. They tell you the closing date on the statement, and the time by which the payment must be made.

Juniper is screwy. If you make two payments in the month, the second will probably be posted but the funds held for up to 10 days unless you pay by Western Union, a handy thing if you really need the balance down but may need the $$ soon thereafter.

USAA reports the statement balance a day or two afterwards, but you need to check when the statement closes and be sure to pay it at least the day before.

That's what I've learned so far, at times at some cost to my score. I keep a calendar now of due dates, pay-by dates and closing dates. Cap 1 kept me from a really low util this month. Phbbt.

Re: Credit Card Reporting Dates

wingwalker — Tue, 26 Jun 2007 03:53:10 GMT

That's interesting - I'm going to double-check that tomorrow. This is a frequently used card, and if I'm not mistaken, the statement balance is what's reported to the CRs.

I'm going to check old reports and post back.

Re: Credit Card Reporting Dates

fused — Tue, 26 Jun 2007 04:10:16 GMT

For me:

Amex Gold the 25th

Amex Blue 25th

FIA th 7th

Macys 17th

First Hawaiian Bank 28th

Re: Credit Card Reporting Dates

wingwalker — Tue, 26 Jun 2007 04:19:47 GMT

ok, I looked back at previous MyFico and TC reports, and in each case, the exact statement balance (as of the closing date) was reported in any report pulled the following month.

I think the poster (sorry, I can't navigate back to see your name) got the date of the 16th because that's their statement date. If that followed for me, I would not have the exact match of the statement balance going back to February (which is all I've checked so far).

For what it's worth, and because we all have slightly different statement dates, the rep I spoke with last week said that the statement balance was reported at the end of the month. However, in May, the TC report date was 5/29, which was the Tuesday after Memorial Day.

I've also noted that the report date advertised in the little TC popup box is not necessarily the date they actually change the balance. TU is so slow!!

Re: Credit Card Reporting Dates

Anonymous — Fri, 29 Jun 2007 23:30:28 GMT

It's going to be different for everyone. Almost every CCC is willing to change it. Just call 'em up and ask.

Some will set the payment due date and the statement cycle close date will calculate from that.

Others will set the statement cycle close date and the payment due date will calculate from that.

Let's say that rent or your home payment is due the 1st. You decide you're gonna move your car loan and CCs to the 15th. Keep some balance paycheck to paycheck. Call 'em up and ask.

Re: Credit Card Reporting Dates

Anonymous — Sat, 30 Jun 2007 03:25:05 GMT

I emailed Capital One and here's their reply regarding their reporting date on accounts:

Thank you for contacting Capital One.

Please note that accounts are reported to the credit bureau 30 days after
the opening of the credit card account. After initial report, Capital One
reports to the credit bureaus the day after the billing cycle date.
Accounts are also reported to the credit bureau when a payment is 30 or
more days past due.

To discuss your account and the information reporting to the credit bureau
in more detail, please contact us by telephone at 1-800-955-7070
(1-804-934-2001 if you are overseas). Our representatives are available 24
hours every day for your convenience.

Re: Credit Card Reporting Dates

SmartCookie — Thu, 05 Jul 2007 00:11:12 GMT

This is such a fabulous thread rifleman, thank you for starting it and to all that are contributing.

Strategic payments can be such an effortless way to keep utilization down and scores up.

Re: Credit Card Reporting Dates

Anonymous — Thu, 05 Jul 2007 22:52:05 GMT

Have to ask - WHY doesn't AMEX even report I make payments? That's irritating or is this something I shouldn't worry about?

Thanks as always!

Re: Credit Card Reporting Dates

chartley3 — Fri, 06 Jul 2007 02:49:47 GMT

First Premier reports the day they print your statement. Called and verified.

Tribute Mastercard reports the last business day of the month.

Re: Credit Card Reporting Dates

Anonymous — Mon, 30 Jul 2007 06:07:09 GMT

Been tracking my accounts and DW's accounts for July on True Credit.

A few comments first ...

As I understand it, the reporting date is assigned by the creditor, and in most cases is the same as the statement closing date for each account. My assumption is each creditor transmits their updates to the CRA(s) at the same time, and any delay in posting to a credit report is caused by the CRA. One exception - the reporting date for my HSBC account is the last day of each month, but the delay in updating to the credit reports is ridiculous. I believe that HSBC is not actually transmitting their reports to the CRAs until 10-15 days after the reporting dates.

On TrueCredit, the EQ reporting date only displays Month/Year (07/2007). I assume this is due to EQ's formatting, and the actual date each creditor reports to EQ is the same as the date each creditor reports to EX.

For Chase accounts, the TU reporting date is 1 or 2 days later than the EX reporting date, which seems strange. I doubt that Chase is transmitting their reports to TU a day or two after they transmit to EQ and EX. I think TU edits the reporting date for Chase accounts.

EX and EQ appear to update continually, although EQ is often two or more days slower. However, TU seems to update in batches. In the list below, you'll see that EX and EQ updated throughout the month. But TU updated a batch of accounts on 7/10, another batch on 7/17, then 7/24, then 7/27.

Format:
Creditor - Statement Date
EQ Reporting Date - EQ Updated on TC
EX Reporting Date - EX Updated on TC
TU Reporting Date - TU Updated on TC

American General Finance - 6/30
EQ 6/30 - Updated 7/14
EX 6/30 - Updated 7/6
TU 6/30 - Updated 7/10

Bank of America - 7/13
EQ 7/13 - Updated 7/18
EX 7/13 - Updated 7/14
TU 7/13 - Updated 7/24

Bank of America - 7/16
EX 7/16 - Updated 7/17
($0 balance - only reports to EX)
(stopped reporting to EQ and TU after Feb 2007)

Bank of America - 7/21
EQ 7/21 - Updated 7/24
EX 7/21 - Updated 7/23
TU 7/21 - Updated 7/24

Bank of America - 7/21
EQ 7/21 - Updated 7/24
EX 7/21 - Updated 7/23
TU 7/21 - Updated 7/27

Capitol One - 7/12
EQ 7/12 - Updated 7/18
EX 7/12 - Updated 7/15
TU 7/12 - Updated 7/17

Chase - 7/6
EQ 7/6 - Updated 7/18
EX 7/6 - Updated 7/15
TU 7/8 - Updated 7/17

Chase - 7/12
EQ 7/12 - Updated 7/18
EX 7/12 - Updated 7/14
TU 7/13 - Updated 7/17

Chase - 7/2
EQ 7/2 - Updated 7/10
EX 7/2 - Updated 7/6
TU 7/3 - Updated 7/10

Chase - 7/3
EQ 7/3 - Updated 7/11
EX 7/3 - Updated 7/7
TU 7/4 - Updated 7/17

Chase - 7/8
EQ 7/8 - Updated 7/15
EX 7/8 - Updated 7/11
TU 7/9 - Updated 7/17

Chase - 7/20
EQ 7/20 - Updated 7/25
EX 7/20 - Updated 7/23
TU 7/22 - Updated 7/27

Chase - 7/15
EQ 7/15 - Updated 7/21
EX 7/15 - Updated 7/19
TU 7/16 - Updated 7/27

Citi - 7/20
EQ 7/20 - Updated 7/24
EX 7/20 - Updated 7/22
TU 7/20 - Updated 7/24

Citi - 7/18
EQ 7/18 - Updated 7/21
EX 7/18 - Updated 7/19
TU 7/18 - Updated 7/27

Discover - 7/23
EQ 7/23 - Updated 7/27
EX 7/23 - Updated 7/24
TU 7/23 - Updated 7/28

Gap (GEMB) - 7/6
EQ 7/6 - Updated 7/14
EX 7/6 - Updated 7/8
TU 7/6 - Updated 7/10

Home Depot (Citi) - 7/7
EX 7/7 - Updated 7/8
($0 balance - only reports to EX)
(stopped reporting to EQ and TU after July 2006)

Home Source (GEMB) - 7/6
EQ 7/6 - Updated 7/10
EX 7/6 - Updated 7/8
TU 7/6 - Updated 7/10

HSBC - 6/23
EQ 6/30 - Updated 7/17
EX 6/30 - Updated 7/11
TU 6/30 - Updated 7/27
(HSBC reports on last day of the month, not on statement date)

JC Penney (GEMB) - 7/13
EQ 7/13 - Updated 7/20
EX 7/13 - Updated 7/15
TU 7/13 - Updated 7/17

Lowe's (GEMB) - 7/5
EQ 7/5 - Updated 7/10
EX 7/5 - Updated 7/6
TU 7/5 - Updated 7/10

Macy's (DSNB) - 6/29
EQ 6/29 - Updated 7/10
EX 6/29 - Updated 7/3
TU 6/29 - Updated 7/10

Macy's (DSNB) - 6/29
EQ 6/29 - Updated 7/10
EX 6/29 - Updated 7/3
TU 6/29 - Updated 7/17

Mervyns (GEMB) - 7/6
EQ 7/6 - Updated 7/14
EX 7/6 - Updated 7/8
TU 7/6 - Updated 7/10

Sears (Citi) - 7/20
EQ 7/20 - Updated 7/25
EX 7/20 - Updated 7/21
TU 7/20 - Updated 7/27

Washington Mutual - 7/12
EQ 7/12 - Updated 7/17
EX 7/12 - Updated 7/14
TU 7/12 - Updated 7/17

Washington Mutual - 7/20
EQ 7/20 - Updated 7/25
EX 7/20 - Updated 7/21
TU 7/20 - Updated 7/27

Re: Credit Card Reporting Dates

Anonymous — Mon, 30 Jul 2007 06:59:23 GMT

Revike...you must have 100,000 in tradelines.