topic Re: Do CRA's update the same date each month? in General Credit Topics

Do CRA's update the same date each month?

Anonymous — Mon, 04 Jun 2007 21:19:04 GMT

I have been told by my broker that the CRA's (EX, TU, EQ) all update balances on the 5th of each month. Is this true?

Re: Do CRA's update the same date each month?

SoulSmilen — Tue, 05 Jun 2007 00:53:46 GMT

It might be true for his accounts, but that doesn't mean it's true for you or me, or Joe, or Tom, or Sue.... I'm not being ugly, but if he truly thinks that's the case, you might want to ask what experience he has that can benefit you. Green can be fine, but it depends on the situation and if he has someone to help get you the best deal you can get.

Re: Do CRA's update the same date each month?

Tuscani — Tue, 05 Jun 2007 12:02:32 GMT

There is no set day. Each creditor is different.

Re: Do CRA's update the same date each month?

bl00dymary — Tue, 05 Jun 2007 14:17:36 GMT

Darn! I thought today would be my lucky day!

Re: Do CRA's update the same date each month?

Anonymous — Tue, 05 Jun 2007 14:44:03 GMT

It seems most CRAs report monthly around your statement closing date. Others, such as HSBC, report around the 30th of each month for everyone, according to various forums. Last month, my Citi card reported 2 days prior to close, and my other CC accounts reported on their closing day, or one day later. Sometimes an account will be reported on one CRA a day later than the other CRAs.

Note: There seems to be a delay from the official date of posting until the update actually appears on your CR. For example, as of yesterday's TC pull, my 5/30 update from HSBC had not appeared yet.

Message Edited by Revike on 06-05-2007 07:44 AM

Re: Do CRA's update the same date each month?

Anonymous — Tue, 05 Jun 2007 15:02:38 GMT

Revike wrote:
It seems most CRAs report monthly around your statement closing date. Others, such as HSBC, report around the 30th of each month for everyone, according to various forums. Last month, my Citi card reported 2 days prior to close, and my other CC accounts reported on their closing day, or one day later. Sometimes an account will be reported on one CRA a day later than the other CRAs.

Note: There seems to be a delay from the official date of posting until the update actually appears on your CR. For example, as of yesterday's TC pull, my 5/30 update from HSBC had not appeared yet.

Message Edited by Revike on 06-05-2007 07:44 AM

There's a wee bit of confusion in the posts above, but this post gives a good explanation of the difference between the creditor reporting to the CRAs (differs by company) and the CRAs (differs by CRA) updating their system. Then there's the timing of credit watch-type alerts ...

Message Edited by masdeocho on 06-05-2007 11:02 AM

Re: Do CRA's update the same date each month?

Anonymous — Tue, 05 Jun 2007 15:36:02 GMT

@Anonymous wrote:
It seems most CRAs report monthly around your statement closing date. Others, such as HSBC, report around the 30th of each month for everyone, according to various forums. Last month, my Citi card reported 2 days prior to close, and my other CC accounts reported on their closing day, or one day later. Sometimes an account will be reported on one CRA a day later than the other CRAs.

Note: There seems to be a delay from the official date of posting until the update actually appears on your CR. For example, as of yesterday's TC pull, my 5/30 update from HSBC had not appeared yet.

Message Edited by Revike on 06-05-2007 07:44 AM

Same boat here with HSBC. I get the alert 7th or 8th
Can't wait for it to update.

Update- No update, only 1 TL has updated and only on EX and it was not HSBC. errrr.

Message Edited by Timothy on 06-05-2007 08:35 AM

Message Edited by Timothy on 06-05-2007 08:36 AM