Correcting my error same day: DCU reporting and payment options

[User131]

It looks like I might a foolish error, and am hoping there is a way to fix it before DCU's cutoff time today.

I had forgotten that DCU is one of the few issuers (along with US Bank) to report balances to the credit reporting agencies on the last day of the calander month, rather than the close of the billing cycle.  This morning it occoured to me that having BT'd 89% of my DCU line to other creditors to take advantage of their 0% offer, I'd better confirm that, as I don't want > 30% balance showing up at any CRAs for various reasons.

Well, it looks like DCU does report at end of month, at least as of a few years back, as per https://ficoforums.myfico.com/t5/Credit-Cards/Date-Balance-Reported-to-CRA-s-for-DCU-and-Navy/m-p/51... .

And while I have plenty of funds in connected exteneral accounts to make the payment, I don't have enough in DCU accounts.  And unfortunately, a payment made early this morning from an external account won't post until tommorrow, February 1--too late to correct the high balance from being reported.  I'm in North Carolina, so no local branches that would allow a deposit in good funds to be made directly.

So here are my questions:

1. Can anyone confirm that DCU still reports end of month balances, not end of cycle balances?

2. Does anyone know what DCU's cutoff time is to post a payment from its own accounts dated the same day?  I don't see this info on their website, and their chat bot wasn't sure. 

3.  Is there an online deposit limit for same day release of funds?  I realize I can try to work with customer service to have my limit identified or increased, and I may try to do that after they open if I can't find a better solution.

4. Is there a way I'm missing to get a payment posted at DCU prior to today's cutoff?

Thanks for any help.  I'll report back based on what I learn today. 

[Brian_Earl_Spilner]

Your answer about limits is in the account agreement for consumers.

https://www.dcu.org/dcu-support-center/funds-availability-policy.html

As for payment posting, that's a bit trickier. If depositing to checking or savings, 5pm ET is the cutoff. If paying a loan, cutoff time for external transfers is 4pm ET, internal transfer cutoff is 9pm ET. 

If I cut it close for making a payment I simply go to shared atm to deposit. You get instant availability and I don't remember ever having a limit. If it's significant, you can go into a shared branch, an option many people forget exists. 

[User131]

Brian_Earl_Spilner,   I appreciate the thoughtful, prompt reply!

I did realize there was a general funds availabilty policy--it just seemed like many had higher limits on mobile deposits.  I'll likely test that out myself within a few hours.

Great idea on the shared ATM deposits--and nice to know limits are generous there.

  I did see the funds availablity policy, but I take it these are minimums--i.e. they may release holds earlier on seasoned accounts, as others have reported. 

Great idea on using the ATM remote deposits, I didn't think of that, and it sounds like limits are generous there.

[CYBERSAM]

Wright a check to yourself plus $200 if I remember correctly and deposit through your DCU app so the funds be available now! If you wait till later, 2PM ET or 5PM ET ( Don't recall which) then it'll be credited the next day.

[SouthJamaica]

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@User131 wrote:

It looks like I might a foolish error, and am hoping there is a way to fix it before DCU's cutoff time today.

I had forgotten that DCU is one of the few issuers (along with US Bank) to report balances to the credit reporting agencies on the last day of the calander month, rather than the close of the billing cycle.  This morning it occoured to me that having BT'd 89% of my DCU line to other creditors to take advantage of their 0% offer, I'd better confirm that, as I don't want > 30% balance showing up at any CRAs for various reasons.

Well, it looks like DCU does report at end of month, at least as of a few years back, as per https://ficoforums.myfico.com/t5/Credit-Cards/Date-Balance-Reported-to-CRA-s-for-DCU-and-Navy/m-p/51... .

And while I have plenty of funds in connected exteneral accounts to make the payment, I don't have enough in DCU accounts.  And unfortunately, a payment made early this morning from an external account won't post until tommorrow, February 1--too late to correct the high balance from being reported.  I'm in North Carolina, so no local branches that would allow a deposit in good funds to be made directly.

So here are my questions:

1. Can anyone confirm that DCU still reports end of month balances, not end of cycle balances?

2. Does anyone know what DCU's cutoff time is to post a payment from its own accounts dated the same day?  I don't see this info on their website, and their chat bot wasn't sure. 

3.  Is there an online deposit limit for same day release of funds?  I realize I can try to work with customer service to have my limit identified or increased, and I may try to do that after they open if I can't find a better solution.

4. Is there a way I'm missing to get a payment posted at DCU prior to today's cutoff?

Thanks for any help.  I'll report back based on what I learn today. 

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-Yes it reports end of month (or first day of next month).

-I don't know the exact time but if you wire transfer to your DC checking, and then do internal transfer to credit card, that should do it.

-Sometimes if you make the payment by phone you can get it posted same day.

[User131]

Just to follow up:

-DCU did indeed report the month-end balance

-A friend kindl advanced me funds to make the payment same day, so didn't try the local ATM

-i did do a mobile deposit, and had $10k clear immediately, with the other 9k held for 5 business days, upon which time it was released

-I never got notice of when the hold would come off via message.  Customer service did respond to a secure message after one day's time, indicating it would come off, and it did as he said.

Thanks to all who helped!