CRA and when updated

[red259]

With my cards I have one that reports to the CRA on the 1st and another in mid-month around the 16th or 17th. My question is when someone runs my credit report, for example in the second week of the month, will they see the statement information that was reported by the first card or does the CRA wait until the close of the month before listing account activity. In other words if I ran my credit report right now on 7/28/13 would I see July account activity or only once we are in August will it pop up?  

[CBTS]

Whatever the day of the month you or a creditor pulls your CR, you will see the last statement balance for all your accounts. For example, in your case, if you pulled your CR the 10th of July, you would have seen the statement balance from 07-01-13 for one card and statement balance for 06-15-13 for the other card that closes later in the month. Now for July activity, you'll see it on your CR after the statement closes, which will be in August.

Hope it makes sense!

[red259]

So how would credit util be determined? If I show a balance on 6/15 for the card that reports on the 15th and then I show a balance for the card that reports on 7/1. And then a credit report gets pulled on 7/7 (even though I paid off the 6/15 balance on 7/2 (but it won't be reported until 7/15), will my credit util be based on those two balances (even though one is from July and one is from June)? 

[09Lexie]

CRAs do not wait to report statement balances. As the lenders report balances to them, your CRAs are updated. CRAs are a snapshot only; which is why scores can change daily. In your scenario, CARD 1 reports on the first and CARD 2 reports on 15th. Assuming there is not a midcycle report- you would see information for July, June's information will be seen in the pyt history section of your reports.

[red259]

I guess what my question boils down to is whether the credit utilization that is shown is based upon the last report shown of each account regardless of when it was reported or if the credit utilization is based upon the reported utilization for the month the report was pulled (or for the last completed month). My concern is if I show a very high balance on one card in June and then pay it off and then I show a high balance in July on a different card then my util could be off the charts until the payment is updated. In the end it will all balance out in another month and a half.  

[CBTS]

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@red259 wrote:

So how would credit util be determined? If I show a balance on 6/15 for the card that reports on the 15th and then I show a balance for the card that reports on 7/1. And then a credit report gets pulled on 7/7 (even though I paid off the 6/15 balance on 7/2 (but it won't be reported until 7/15), will my credit util be based on those two balances (even though one is from July and one is from June)? 

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Yes. Even though you paid the balance off, since the statement didn't close for CARD 2, the issuer didn't update the new balance ($0) to the CRAs.

[09Lexie]

You are making this too difficult. Your util is based on the balance reported to the CRA for that month only. There is no look back at last months util. If your balance is $250 on a $500 CL for June and you pay that balance down to $25- FICO. Will pick up the $25 for scoring purposes.

If on manual review, it looks like you've been carrying balances and paid it down cause you were apping for this month- then that's a different story.

[09Lexie]

@ternify

I believe OP was basing it on a CRA pulled today. By then all cards should have updated.

[CBTS]

@09Lexie

You're right, my bad! I was going by the hypothetical scenario that the OP gave us in his 2nd post (if a report gets pulled on 7/7)

[09Lexie]

Tbh, OP has given different scenarios so you might be right too!