Capital One Reporting

[Zoostation1]

Forgot that I made a post about Capital One slow reporting about a year and a half ago until I started searching for posts on it. Back then it was slow reporting to EX that was frustrating.  Now my complaint with their reporting is that it's all 3 CRAs that are slow on 3 of my 4 cards with them.  My Savor ($95AF version) and Venture X both have the same due date and statement closing dates (usually 6th or 7th based on 30 or 31 day month) and are now consistenly taking 10-15 days to report for all 3.  Another Savor (former SavorOne, long story) that typically closes the 10th or 11th takes almost as long as well.  Meanwhile my QS which typically closes on the 25th or 26th  has never taken more than 6-7 and is usually 3 or 4 days to report.  It's the oldest of my C1 accounts FWIW.  Amex, Discover, and NFCU all report in a reasonable amount of time like the QS (we'll see if Disco changes).  My only complaint with NFCU is they are slower than molasses to post transactions, but I'll save that for another post.

[pizzadude]

Moved to Credit Cards

[JSUB]

I just noticed the lag reporting to one CR last month on my Savor card. The statement closed on the 15th of May and didn't report to EX until 6/6. It reported to EQ 5/20 and TU 5/19. Odd. 

[NoHardLimits]

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@JSUB wrote:

I just noticed the lag reporting to one CR last month on my Savor card. The statement closed on the 15th of May and didn't report to EX until 6/6. It reported to EQ 5/20 and TU 5/19. Odd. 

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I am also currently experiencing slow reporting to Experian on my Savor card.  I've seen it happen in the past too.

[Creditswooner]

Same here. I have a QS and a Savor. My payments for the QS are due on the 1st of the month, and  EQ and TU both update with the new balance by the 8th, but lately EX hasn't been updated until the 25th.

For instance, last month the balance for my QS posted with EQ and TU on the 7th and the 8th of June, respectively. However, EX didn't update until 6/25.

This month, EQ and TU both updated on the 8th, however EX still hasn't updated yet and it's already the 20th. I'm going to give them until the 25th again and if it still isn't updated then I'll start making some calls to see what's going on.

I'm thinking this has something to do with the new merger? I'm saying that because I have two cards with them, and the bureaus used to update the balances individually a few days after the close of each statement. However, lately the balances for both have been updating around the same time, even though the statement for my QS closes at the beginning of the month and the statement for my Savor closes around the 19th. So, it seems as if they're reporting around the same time now.

That said, maybe with the influx of new accounts it has to handle, C1 is trying to cut down on the number of times per month it reports to EX by reporting all the cards for each customer at the same time each month instead of doing them separately? Idk. It's the only thing I can think of because this is crazy.  

[SRT4kid93]

I'm going on 2 full months since capital one reported to experian for me. My next statement closes 7/24. I'm giving it another 2 weeks and then I'm disputing the balance as incorrect with experian.

I paid my balance down from 2200 to 120, I've heard their reporting issue is especially bad when you pay down big balances. And it's not as bad when you allow a big balance to post. 

[Creditswooner]

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@SRT4kid93 wrote:

I'm going on 2 full months since capital one reported to experian for me. My next statement closes 7/24. I'm giving it another 2 weeks and then I'm disputing the balance as incorrect with experian.

I paid my balance down from 2200 to 120, I've heard their reporting issue is especially bad when you pay down big balances. And it's not as bad when you allow a big balance to post. 

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I also did a substantial balance pay-down and still have mot recieved an updated balance! It's been almost two months now! And it's only happening with Experian and Capital One. Now I'm starting to remember why I stopped using my Capital One cards a while ago. Back in the sock drawer they go!

That said, I called them and filed a dispute a few days ago. Hopefully it updates soon. 

[JSUB]

I called C1 today and asked why 2 of the 3 cards I have with them report to all three CRAs within a few days after the statement cuts but my Savor card reports to TU and EQ a few days after but not EX for the last 2 months. It's the only card with them I carry a balance on so I was curious. Yvette in FL was affable and also baffled. She asked if I needed the report updated because I was buying a house or another immediate reason. I told her no, just curious. She requested a mid-cycle update from EX and said because today is Saturday I should see an update Monday. 

[Varsity_Lu]

I posted this on the other thread like this a few days ago. Personally, I don't think Cap One is the problem. Experian is lazy in a lot of what it does.

From this thread: 

Capital One not Reporting to Experian 

Cap One did not report to Experian for me in July either.  The other two always update Cap One info within a day or so of my statement date which is the 15th for all my cards.  Experian's last update on my Cap One cards was June 16th.  I don't think it's a Cap One issue, though.  I suspect Experian is just lazy.

[SRT4kid93]

@Varsity_Lu 

but if the issue is Experian being lazy, why does this only happen with capital 1?

all my other cards report very quickly even with experian. I have a different theory. 

when companies sent over the information to the bureaus, they sent over the info for all their customers who's statement closed. So let's say you have your acct reported today. Experian now has to comb through every other customer who's info was reported today. On top of that, they also have to comb through all the info reported from the previous days and upcoming days. Creating a back log, which just gets worse and worse.

 Because capital one is such a large lender and has so many customers out there. It takes the bureaus longer to comb through everything compared to a lower volume issuer. why doesn't it take equifax and Transunion longer as well? I can't answer that part, maybe faster computers?