topic Re: First statements cut in General Credit Topics

First statements cut

EAJuggalo — Sun, 28 Feb 2016 12:49:30 GMT

Well, it looks like I ended up with optimized balances for score purely by accident on my first statement cuts. Had no idea when any of the three were going to cut and they all did this weekend. Chase Freedom cut with a $38 balance so about 5%, both Cap Ones cut with 0 balance. Now if only one of them would report so I could have my credit score. Total Utilization 2%.

For data points. Applied for the Cap Ones on Jan. 31 and Feb. 1. First statement cut on 2/28. Applied for Chase Freedom on 1/30, approved after verification 2/8, first cut on 2/27. Chase gave me a payment due date the first time I logged in but didn't tell me when the statement cut.

Re: First statements cut

AutoBot — Sun, 28 Feb 2016 12:51:36 GMT

Good timing on the util reporting!

Re: First statements cut

Anonymous — Sun, 28 Feb 2016 14:08:56 GMT

Start looking for the Cap1 cards to report in 3 days. It might take longer, but mine and hubby's Cap1 cards reported 3 days after statement cut even the first one

Re: First statements cut

Anonymous — Sun, 28 Feb 2016 14:51:49 GMT

One of my Cap1's reported 3 days after 1st statement but the other did not report for the first time until 3 days after 2nd statement. That was a long long 30+ days.

Re: First statements cut

Anonymous — Sun, 28 Feb 2016 17:04:31 GMT

One of my Cap1 cards seemed to not report until I used it, but perhaps that was just coincidence. I opened the account around Dec 31 and didn't use it until Jan 24. After I used it on vacation, the $215 I charged reported on my statement (Jan 27). The card has an annual fee and it been charged and paid before I actually used the card. Coincidence, right?

Re: First statements cut

EmmaGolden — Sun, 28 Feb 2016 17:58:22 GMT

@EAJuggalo wrote:
Well, it looks like I ended up with optimized balances for score purely by accident on my first statement cuts. Had no idea when any of the three were going to cut and they all did this weekend. Chase Freedom cut with a $38 balance so about 5%, both Cap Ones cut with 0 balance. Now if only one of them would report so I could have my credit score. Total Utilization 2%.

For data points. Applied for the Cap Ones on Jan. 31 and Feb. 1. First statement cut on 2/28. Applied for Chase Freedom on 1/30, approved after verification 2/8, first cut on 2/27. Chase gave me a payment due date the first time I logged in but didn't tell me when the statement cut.

My 1st Cap1opened (12/29/15) just reported on 2/17 was the second statement, My Capt1 QS1 has yet to report (opened 2/4/16). Congrats on the Chase Freedom with not enough history for a score. I applied earlier this month & they denied me for no established history. Makes me feel like the red headed step child lol (joking)

Re: First statements cut

EAJuggalo — Sun, 28 Feb 2016 19:28:40 GMT

I have history, just nothing recent. On my report is a Chase Auto Loan that I paid off in 2006. I think that is the only reason I got the Freedom.

Re: First statements cut

EmmaGolden — Sun, 28 Feb 2016 19:38:41 GMT

@EAJuggalo wrote:
I have history, just nothing recent. On my report is a Chase Auto Loan that I paid off in 2006. I think that is the only reason I got the Freedom.

Thank you for the clarification; makes me think I may not be the step child. lol I just lack patience & sorry my joking is inappropiate at times.

Re: First statements cut

takeshi74 — Tue, 01 Mar 2016 13:57:20 GMT

@EAJuggalo wrote:
Well, it looks like I ended up with optimized balances for score purely by accident on my first statement cuts.

Are you applying for new credit? If not, you don't need to constantly optimize. Just aim to keep it under 30%. You can drop it as needed when applying, requiesting CLI's etc. Revolving utilization is based on currently reported balances and limits. Prior data does not matter.

Re: First statements cut

EAJuggalo — Tue, 01 Mar 2016 23:10:57 GMT

Nope, purely by accident. I had gotten paid and paid off all the cards on Friday, so when the statement cut on Saturday there wasn't anything on the Cap Ones.