Banks and their shady reporting habits

[youngandcreditwrthy]

Surely I'm not the only person to notice that whenever I increase a balance on a card, it almost gets reported right away...but whenever I pay an account off or make a substantial, util reducing payment... Seems like they take forever to report it!!!! Grrr!!! Shady!! Lol

Anyone else notice this about credit card companies? Lol

[distantarray]

I dunno about you but mine generally reports at the sametime every month ? =\

[webhopper]

Mine too.

Which lender is doing this to you? Ive heard BOA is bad about doing this; but I don't do business with BOA so I have no experience

[jsucool76]

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@webhopper wrote:
Mine too.

Which lender is doing this to you? Ive heard BOA is bad about doing this; but I don't do business with BOA so I have no experience

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GE also does this for the first cycle on walmart cards, I don't know about any other ones though. 

@Also @ OP: 

From the "How credit bureaus update your reports" sticky thread...

"Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files..." 

lol 

[distantarray]

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@jsucool76 wrote:

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@webhopper wrote:
Mine too.

Which lender is doing this to you? Ive heard BOA is bad about doing this; but I don't do business with BOA so I have no experience

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GE also does this for the first cycle on walmart cards, I don't know about any other ones though. 

@Also @ OP: 

From the "How credit bureaus update your reports" sticky thread...

"Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds.

Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files..." 

lol 

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lol i like

[navigatethis12]

This only happened to me once with Barclays a few months back. For whatever reason, they updated midcycle and I had a balance, but it did not bother me. I use creditkarma to check the report every few days so maybe it is not that accurate. Some will report again if you get a limit increase or decrease.

[jsucool76]

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@navigatethis12 wrote:

This only happened to me once with Barclays a few months back. For whatever reason, they updated midcycle and I had a balance, but it did not bother me. I use creditkarma to check the report every few days so maybe it is not that accurate. Some will report again if you get a limit increase or decrease.

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Some lenders also report mid cycle if you change your payment due date 

[Duncanrr]

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@jsucool76 wrote:

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@navigatethis12 wrote:

This only happened to me once with Barclays a few months back. For whatever reason, they updated midcycle and I had a balance, but it did not bother me. I use creditkarma to check the report every few days so maybe it is not that accurate. Some will report again if you get a limit increase or decrease.

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Some lenders also report mid cycle if you change your payment due date 

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Ding ding ding. Walmart did this to me.

[youngandcreditwrthy]

Hahahhaah I remember reading that a while back!! So true!!!

It is Barclay's, GECRB, and Crapital One.... So all of them really lol.

Amex and Discover meanwhile haven't reported anything yet lol...a month later hahaha.

Specifically, My Travelocity Amex, Amazon, and Wmt Discover are lagging. I've paid $1k+ collectively, which is like a couple of percent off my utilization I think. But Amex never sleeps!! Lol

[youngandcreditwrthy]

Yeah... I noticed a CL decrease on my reports for my NM account before I was even informed by NM that they had decreased it. I closed that account within the month.. That was right after Crapital One took over HSBC.