topic Re: This is why I hate Credit in General Credit Topics

This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 14:13:03 GMT

So why is it when I trying to pay down all my debt or at least down to 25% Experian who is usually the first to report balance changes wont update like 5 accounts when TU and EQ have already done so. This Crap happens every single time I pay down my debt one CRA drags that goalith feet on reporting. Im trying to get some CLI and maybe a new card or two and apply for a car loan only to be stimied by this nonsence

Im waitign on DCU and CAFCU to report which happens at the end of the month but ehre we on 12 days into the month and nothing and last month they reported around the 8th to 10th does this happen to anyone else?

Re: This is why I hate Credit

Ficoproblems247 — Mon, 12 Apr 2021 14:43:43 GMT

Your cards report to all 3 bureaus at the same time. The 3 bureaus process that report and then update their database with it. For EX and EQ that process generally takes 1-2 days. For TU, it is sometimes more like 3-4 days. Are you sure that what you are referencing is not the interface you are using that hasn't refreshed its data from EX? Where are you getting your 3 reports from, and what do said reports show for the date they were refreshed? Take that date and compare it to the dates that each card reports to the bureaus and see if that doesn't begin to clear things up a bit.

Re: This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 15:17:09 GMT

I use My fico,Experian, credit karma, and some others point being I check experian everyday as I'm a member as this happens all the time with Ex its so corrupt its not even funny

Re: This is why I hate Credit

Ficoproblems247 — Mon, 12 Apr 2021 22:36:35 GMT

@nosup4u wrote:
I use My fico,Experian, credit karma, and some others point being I check experian everyday as I'm a member as this happens all the time with Ex its so corrupt its not even funny

And not to sound like I'm repeating things, but I just want to be sure I understand fully. There are different kinds of membership through EX, some update daily and some do not. Are the reports you are viewing updated as of today's date?

If so, and you are truly having reporting issues, you may have to reach out to the creditor you are having issues with. Sometimes your accounts will miss a month of reporting here or there with 1 or more bureaus, that just happens. If it is happening consistently you'd want to reach out to your lender. EX is merely reporting what is being passed on to them by your FI.

Re: This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 17:35:41 GMT

I understand communicating through text can be complicated but yes its a daily membership

Re: This is why I hate Credit

Ficoproblems247 — Mon, 12 Apr 2021 18:28:43 GMT

The 5 accounts that you are waiting on to report, when are their cycle dates? Do they always report on the same date each month? Are all 5 currently missing from reporting only on your EX for this month, but showing updated balances on EQ and TU?

Re: This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 19:55:32 GMT

They are end of month cycle dates

last month in march

DCU updated on the 10th

and CAFCU updated on the 03.04

here we are in April and I paid off 3 accounts to 0

and the last account was a auto payment and nothing

Re: This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 19:57:27 GMT

and I forgot TU and EQ have updated as well

last week

Re: This is why I hate Credit

Ficoproblems247 — Mon, 12 Apr 2021 20:08:06 GMT

@nosup4u wrote:
They are end of month cycle dates
last month in march
DCU updated on the 10th
and CAFCU updated on the 03.04
here we are in April and I paid off 3 accounts to 0
and the last account was a auto payment and nothing

Ok, I'm trying to understand your situation better, but I am having trouble digesting the information you are posting.

DCU: Statement cuts on the 10th of each month.
CAFCU: Statement cuts on the 4th of each month.

Some other unnamed account: auto pay and an unknown cycle date.

Since it's only the 12th, DCU might just be a little slow to post. It's only been 2 days since your statement. Give it some time.

You are saying then that between 3/5 and 4/4 that you paid your CAFCU account off and it hasn't reported the updated balance yet? Does it say specifically on EX that the account has not reported since 3/4?

Re: This is why I hate Credit

nosup4u — Mon, 12 Apr 2021 21:08:22 GMT

Ok so DCU and CAFCU update at the months end every month regardless of payment date

I paid off a loan and credit card with DCU before the 31st last month

And Im saying last month in March DCU updated on the 10th for Feb payment

and CAFCU updated on the 5th I believe if that is what I said in the last post

regardless accounts were updated early in the month and not towards the middle.

Experian has it out for me I tell you its personal this is not the first time this has happened and its

only when I pay certain accounts to zero this is important as I'm trying to get my secured card with SDFCU

Graduated and I need these accounts to show 0 balance super frustrating

Re: This is why I hate Credit

Ficoproblems247 — Tue, 13 Apr 2021 01:22:22 GMT

@nosup4u wrote:
Ok so DCU and CAFCU update at the months end every month regardless of payment date
I paid off a loan and credit card with DCU before the 31st last month

And Im saying last month in March DCU updated on the 10th for Feb payment
and CAFCU updated on the 5th I believe if that is what I said in the last post
regardless accounts were updated early in the month and not towards the middle.
Experian has it out for me I tell you its personal this is not the first time this has happened and its
only when I pay certain accounts to zero this is important as I'm trying to get my secured card with SDFCU
Graduated and I need these accounts to show 0 balance super frustrating

Where I am getting confused is that you say you have these accounts that update at the month's end, but then you are also saying that they update on the 5th and on the 10th. It's one or the other. I am not in any way trying to be patronizing by asking these repeated questions, please know that, I am just trying to gain an understanding of the whole picture. Most lenders send an update of your balance to the bureaus on your statement cut date. There are a select few that update at a set time (example: US Bank updates the last business day of the month.) Here is what I am looking for specifically:

The "Balance updated" date is the date that your account reports to the bureaus each month. It will be reported to all 3 bureaus on that date. If your account has a set cycle date (example: Discover) then it will update on that exact date every month. If your account has a floating cycle date (example: Capital One) it may vary by a day, depending on if there are 30 or 31 days in that specific billing cycle. Even though your lender reports the data to all 3 bureaus on the same date, the 'big 3' may complete the update of their data base within a few days difference of each other. Furthermore, what you see can also be skewed by the interface you are using and when it updated. Since you already verified to me earlier that yours was updated as of today, we know that is not the case and therefore can eliminate that from the equation. When you look at the "Balance updated" date on DCU and CAFCU, what are the dates that it is showing you?

If you look at my Capital One account, the one that has the missed payments, you can see that it should already be updated and it has not yet. Cap1 has floating cycle dates, therefore since it updated on 3/9 last month and April has 30 days vs. March having 31, my statement cut on the 8th this month. Even though that statement was already reported by Cap1 to EX, and my EX report is current as of today, they have not updated it with the most recent information. I am not sweating it however, because this is just typical behavior and should be showing April's statement within another day or two. If EX updates the balance for me to view tomorrow, 4/13, it will still show "Balance updated Apr 8th 2021" because that is the date that Cap1 reported it to EX.

Re: This is why I hate Credit

nosup4u — Tue, 13 Apr 2021 02:39:55 GMT

Both DCU and CAFCU update on the experian reports as of today showing last reporting as of 02.28.21

last month they updated 02.28.21 on March 4th and March 10th but now in April after I paid off these accounts nothing

and its almost a week later total BS by Experian

Re: This is why I hate Credit

Ficoproblems247 — Tue, 13 Apr 2021 03:15:33 GMT

@nosup4u wrote:
Both DCU and CAFCU update on the experian reports as of today showing last reporting as of 02.28.21
last month they updated 02.28.21 on March 4th and March 10th but now in April after I paid off these accounts nothing
and its almost a week later total BS by Experian

That's good info, and thank you! Lets leave the extra thoughts about EX out of the conversation, as they are certainly not relevant in any way. They do nothing except distract from any real progress we're making here, and I think we're making progress! So from what you are saying, I understand it as DCU and CAFCU reprort on the 28th of the month. It sounds like you were able to see updated EX reports that were generated on 3/4, and 3/10. If you were in fact viewing a snapshot of your EX report from those two dates in particular, the most recent update that was sent to EX from DCU and CAFCU was still sent on 2/28. They did not send another update to EX until 3/28, which should be what you are seeing now. You said that "now in April after I paid off these accounts" and "its almost a week later." If you did not pay off your debts until April, then what you are seeing on your report is not showing that payoff. Anything you paid off in April will not be reported until 4/28, and it sounds like when you can actually expect it to show up on EX's website is about a week later. Sometimes it be like that...

Re: This is why I hate Credit

Anonymous — Tue, 13 Apr 2021 03:19:27 GMT

Excellent explanations @Ficoproblems247 . 👍🏻👍🏻

OP, one thing I didn't see mentioned in the thread is the possibility of off-cycle reporting. Some lenders will send an updated reporting to the bureaus upon request on a date other than their normal report date (Discover is one such lender). You could contact them and ask if this is something they'd be willing to do, and if so, you'd see your updates and increased scores sooner.

Re: This is why I hate Credit

Remedios — Tue, 13 Apr 2021 03:20:30 GMT

I'm only here to make this face 😐

Re: This is why I hate Credit

Ficoproblems247 — Tue, 13 Apr 2021 03:23:02 GMT

@Remedios wrote:
I'm only here to make this face 😐

See, you are regreattable. I am making that face too. I'm out on this one. Ya'll can take over.

Re: This is why I hate Credit

Remedios — Tue, 13 Apr 2021 03:26:40 GMT

@Ficoproblems247 wrote:
@Remedios wrote:
I'm only here to make this face 😐
See, you are regreattable. I am making that face too. I'm out on this one. Ya'll can take over.

I have some things to do. Important things.

Re: This is why I hate Credit

nosup4u — Tue, 13 Apr 2021 03:33:41 GMT

Close..............they update on the end of every month the last month updated was 02.28 so the next update will be 03.31 which has not happened yet for what reason I don't know why. And bills were paid well before 03.31 regardless they have reported to TU and EQ as zero balance already so its only EX that is holding up the progress right now

Re: This is why I hate Credit

FinStar — Tue, 13 Apr 2021 03:34:46 GMT

@Remedios wrote:
I'm only here to make this face 😐

Re: This is why I hate Credit

Remedios — Tue, 13 Apr 2021 03:44:09 GMT

@FinStar wrote:
@Remedios wrote:
I'm only here to make this face 😐