topic Re: When does US Bank starts reporting to CRAs in General Credit Topics

When does US Bank starts reporting to CRAs

Red1Blue — Sun, 19 Jan 2020 15:38:35 GMT

I just got the US Bank Harley Secured Card. When does it start reporting to the CRAs ? I know some banks report right away and some take time. Also I am not sure on what particular days US Bank might report to CRAs.

Re: When does US Bank starts reporting to CRAs

OmarGB9 — Sun, 19 Jan 2020 15:58:42 GMT

Not sure about US Bank specifically, but some creditors take two, sometimes three months/statement cycles to report.

Re: When does US Bank starts reporting to CRAs

Anonymous — Sun, 19 Jan 2020 16:10:39 GMT

It will report at midnight of the Statement Closing date for your first statement. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."

You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the balance and utilization reported to the credit bureaus, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.

Re: When does US Bank starts reporting to CRAs

Red1Blue — Sun, 19 Jan 2020 16:10:12 GMT

@Anonymous wrote:
It will report when your first statement closes. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."

You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the reported balance, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.

Thanks. When I checked it is showing next statement date as 2/11. That is a secured card with only $1000 CL. I guess they will not let us add more funds to deposit for 6 more months for the credit limit increase. That $1000 CL is going to stay there for next 6 months. I am going use very small charges and pay it off until I am able to add more deposit and increase my credit limit.

Re: When does US Bank starts reporting to CRAs

Anonymous — Sun, 19 Jan 2020 16:13:15 GMT

@Red1Blue wrote:
@Anonymous wrote:
It will report when your first statement closes. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."

You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the reported balance, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.
Thanks. When I checked it is showing next statement date as 2/11. That is a secured card with only $1000 CL. I guess they will not let us add more funds to deposit for 6 more months for the credit limit increase. That $1000 CL is going to stay there for next 6 months. I am going use very small charges and pay it off until I am able to add more deposit and increase my credit limit.

Then you account will report at midnight on 2/11/20.

You need to call customer service and ask if they would allow you to add funds to your deposit.

Re: When does US Bank starts reporting to CRAs

Red1Blue — Sun, 19 Jan 2020 16:17:53 GMT

@Anonymous wrote:
You need to call customer service and ask if they would allow you to add funds to your deposit.

I called Customer service. They said I need to wait for 6 months to add to deposit and request CLI. After that only ever 3 months we can request to add to deposit and increase CLI. They said if I want a card with higher limit I can apply for another secured card and provide the deposit with sufficient amount. That is strange. I guess that is how they work. That is okay. I am going to sock drawer that card. There is no AF.

Re: When does US Bank starts reporting to CRAs

Anonymous — Mon, 20 Jan 2020 05:35:56 GMT

Mine actually reported about 30 days later on the 11th.

@Maize They report the balance twice?! So if I don’t have a zero balance on the last business day, it will be updated on the statement cut day?

Re: When does US Bank starts reporting to CRAs

Remedios — Mon, 20 Jan 2020 06:54:11 GMT

US Bank will report balance present on the last business date of the month.
They do not report at statement closing

Re: When does US Bank starts reporting to CRAs

Anonymous — Mon, 20 Jan 2020 07:00:45 GMT

That has been my experience. That’s why I was seeking clarification.

Re: When does US Bank starts reporting to CRAs

Trudy — Mon, 20 Jan 2020 14:29:23 GMT

Unless there's a difference with USBank secured cards, they've always and only reported on the last day of the month. I have made a payment on the due date and after the due date (now the 28th, used to be the 22nd when I tested) and the balance as of the last day is what was always reported to the CB's. Actually it's sometimes the 30th even in a 31 day month but I've seen the 31st often. Didn't test it that close to the end of month.

Re: When does US Bank starts reporting to CRAs

Anonymous — Mon, 20 Jan 2020 14:55:52 GMT

@Anonymous wrote:
Mine actually reported about 30 days later on the 11th.

@Maize They report the balance twice?! So if I don’t have a zero balance on the last business day, it will be updated on the statement cut day?

I was incorrect. They update the account "Status" on Statement Close date. I unfortunately incurred a 30-day late on an EFS Visa in April, 2015. The account's Statement Close date is the 10th of the month; and the account was updated to show the "30-day past due" on that date.

Re: When does US Bank starts reporting to CRAs

Anonymous — Mon, 20 Jan 2020 14:59:22 GMT

@Anonymous wrote:
It will report at midnight of the Statement Closing date for your first statement. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."

You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the balance and utilization reported to the credit bureaus, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.

US Bank always reports once at the end of the calendar month using information from the last business day. Never seen any exception to this in eight years.

Re: When does US Bank starts reporting to CRAs

Anonymous — Mon, 20 Jan 2020 15:07:28 GMT

@Anonymous wrote:
@Anonymous wrote:
Mine actually reported about 30 days later on the 11th.

@Maize They report the balance twice?! So if I don’t have a zero balance on the last business day, it will be updated on the statement cut day?
I was incorrect. They update the account "Status" on Statement Close date. I unfortunately incurred a 30-day late on an EFS Visa in April, 2015. The account's Statement Close date is the 10th of the month; and the account was updated to show the "30-day past due" on that date.

Ouch that bites for sure! Ooh ... somewhere I caught that USB does their own thing on account reporting and did not get caught but it was close