Chase Reporting

[Anonymous]

Does anyone know if Chase reports differently and on different dates to the different bureaus ?  Credit Karma Transunion shows that Chase bank reported our payment to 1 of our 2 Chase cards (one reported is actually a week before it's statement date, one that didn't report is 3 days after statement date) , yet our Equifax Transunion report on Credit Karma has the payments for BOTH our Chase cards reported.  Why would this be the case ?

History:  We are relatively new to the country (moved from Canada 2yrs ago) and were recently preapproved for a mortgage as we met minimum criteria, but when it went for approval with national lending service it was denied based on credit utilization and age of credit history (85% and 18 months).  We got a copy of our report and noticed that the balances all reported on the statement date, so we've paid down all our cards to get below 30% and are waiting for the statement dates to see if we can get a big enough bump to our score (simulator on Credit Karma indicates we should jump from 630's to low 700's once we report below 30%).

[takeshi74]

Chase reports on statement date.  They can perform a midcycle update if the balance on a card is paid to 0.

Also keep in mind that the CRA's don't all update at the same time after the creditor reports to the CRA's.  A given CRA may take longer to update than another.

---

@Anonymous wrote:

simulator on Credit Karma indicates we should jump from 630's to low 700's once we report below 30%

---

Be very caerful relying on simulators.  Also keep in mind that most creditors do not use the VantageScores provided by Credit Karma in their decisions.  On top of that, be careful even when you look at FICO's.  FICO has many models used by creditors.  The FICO 8 model seems to be commonly used but most mortgage lenders do not use the FICO 8 model.  See also the Understanding FICO Scoring subforum and its stickies.

That said, dropping you revolving utilization from 85% to under 30% should yield a significant improvement.  Generally speaking, lower is better as long as you don't have all 0 balances reporting.

[Anonymous]

Thanks takeshi74 ... this makes sense as the 'early' reported card was paid to zero, the card that did not show on Transunion had a statement date of 10/6, hopefully they receive and update the information soon.

Does transunion historically receive and update info slower than Experian and Equifax ?

[Anonymous]

---

@takeshi74 wrote:

Chase reports on statement date.  They can perform a midcycle update if the balance on a card is paid to 0.

Also keep in mind that the CRA's don't all update at the same time after the creditor reports to the CRA's.  A given CRA may take longer to update than another.

---

---

So this is the reason why Amazon store card reported outside of my statment date; they were supposed to report a 1% utilization on 10/22 but instead reported 0% on 10/1?