Bank of America CC

[lambo003]

I just received a credit alert that my bank of America balance has reported to the credit bureau and the billing cycle hasn't even closed yet. The billing cycle is supposed to close July 3rd but a new balance has reported today as if the billing cycle closed early. Has this happened to anyone else that has a bank of America cc??

[09Lexie]

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@lambo003 wrote:
I just received a credit alert that my bank of America balance has reported to the credit bureau and the billing cycle hasn't even closed yet. The billing cycle is supposed to close July 3rd but a new balance has reported today as if the billing cycle closed early. Has this happened to anyone else that has a bank of America cc??

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Is this a new cc? Did you make any changes to your address?

[TrueGeminiNC]

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@lambo003 wrote:
I just received a credit alert that my bank of America balance has reported to the credit bureau and the billing cycle hasn't even closed yet. The billing cycle is supposed to close July 3rd but a new balance has reported today as if the billing cycle closed early. Has this happened to anyone else that has a bank of America cc??

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I have noticed that both Bank of America and Discover report to the CRAs off cycle.  Notably, I took my family to Hawaii and ran alot through my cards.  The current balances have been reported to the CRAs despite being in the middle of my current billing cycle.

I ran across a similar post a few weeks back and simply brushed it off. I plan to pay my balances in full prior to the statement close dates.  Thereafter, I will be monitoring my reports to ensure that the balances are updated.  

[keithB]

My USAA card just did this as well.

[lambo003]

Yes it is a new credit card (05/2014) and I did just change my address. Had I known it would report the current balance just for changing my address then I would have left it at the current address until the statement closed.

[lambo003]

Do you know if there's any way this could be fixed? To have it reporting when the billing cycle is supposed to close?

[lg8302ch]

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@lambo003 wrote:
Do you know if there's any way this could be fixed? To have it reporting when the billing cycle is supposed to close?

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If you pay before the statement closes then the "new" balance will report from the statement. BofA triggered the reporting because of the address change and they will report the balance on your statement just after the statement is cut again. So pay down and you are fine. If you do not apply for anything don't worry about a balance report. There is no need to report 0 balance all the time. Personally  I only do the 0 balance reporting  just before an app and the rest of the time I report my balances and pif after statement is cut. No problem with that and you want to boost your scores for the app but no need to do it all the time.

[One7]

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@lg8302ch wrote:

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@lambo003 wrote:
Do you know if there's any way this could be fixed? To have it reporting when the billing cycle is supposed to close?

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If you pay before the statement closes then the "new" balance will report from the statement. BofA triggered the reporting because of the address change and they will report the balance on your statement just after the statement is cut again. So pay down and you are fine. If you do not apply for anything don't worry about a balance report. There is no need to report 0 balance all the time. Personally  I only do the 0 balance reporting  just before an app and the rest of the time I report my balances and pif after statement is cut. No problem with that and you want to boost your scores for the app but no need to do it all the time.

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+1 

I agree, if you don't plan on applying for anything new soon then don't worry about it. Once the new statement cuts (assuming you paid in full) it'll report a 0 balance again. 

[lambo003]

I will be applying for a loan within the next 3-4 months. So do you recommend reporting 0 balances until I apply for the loan or just report zero balance 1 or 2 months before applying for the loan? 

[Swapmeet]

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@lambo003 wrote:

I will be applying for a loan within the next 3-4 months. So do you recommend reporting 0 balances until I apply for the loan or just report zero balance 1 or 2 months before applying for the loan? 

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Fico has no memory, so just do the 0 balance thing the month before you apply, and you are good.