Did I mess up? CC statement date & payment

[wvasweetness]

My Chase statement date is the 13th. My balance was $1550 and I made a payment of $1500 on the 12th, so that $50 would report to the 3 CBs. The statement posted and shows the $1550 as the balance, since the payment still hasn't cleared yet.

Does this mean that $1550 will report to the 3 CBs as my balance, even though I made a payment of $1500 on the 12th?

I'm calling Chase tomorrow to ask about this, too. 

[Kforce]

---

@wvasweetness wrote:

My Chase statement date is the 13th. My balance was $1550 and I made a payment of $1500 on the 12th, so that $50 would report to the 3 CBs. The statement posted and shows the $1550 as the balance, since the payment still hasn't cleared yet.

Does this mean that $1550 will report to the 3 CBs as my balance, even though I made a payment of $1500 on the 12th?

I'm calling Chase tomorrow to ask about this, too. 

---

Yes they will report the statement balance.

Two options depending on CL, don't worry it is only for a month.

or

Pay off the 50 and a few days later Chase will report the Zero balance to the CB's

1550 or Zero are the choices

Pay 3-5 day's before statement cuts, the day before is sometimes too close.

I don't have Chase, however most want 3 day's, a couple issuers let you pay last minute.

You have to learn each issuers rules or just pay early

[wvasweetness]

@Kforce 

Daaaang. Thanks for the info!

I've seen it mentioned many times on here that Chase will report 0 balance... where can I find more info about that? I asked Chase and they said they only report once/month, the statement balance. Do they report 0 balance on a specific day of the month/cycle? Or... ?

Also, assuming I can get Chase to report $0 this month.... looking for opinions on if it's best to report AZEO with one card reporting $1550 balance (of a $5200 limit), or for all cards to report $0?

We are applying for a mortgage this month, so this was bad timing for me to mess this up. Scores are good, but definitely trying to maximize scoring!

[JR_TX]

---

@wvasweetness wrote:

@Kforce 

Daaaang. Thanks for the info!

I've seen it mentioned many times on here that Chase will report 0 balance... where can I find more info about that? I asked Chase and they said they only report once/month, the statement balance. Do they report 0 balance on a specific day of the month/cycle? Or... ?

Also, assuming I can get Chase to report $0 this month.... looking for opinions on if it's best to report AZEO with one card reporting $1550 balance (of a $5200 limit), or for all cards to report $0?

We are applying for a mortgage this month, so this was bad timing for me to mess this up. Scores are good, but definitely trying to maximize scoring!

---

Your FICO will be penalized more with all TLs reporting 0 util than your chase showing 29%.

If you're applying for a mortgage this month and you have another revolving TL that's scheduled to post in the next 7 days, I would make a spend on that to show 1%+ util then payoff Chase to 0. Chase will report 0% as soon as payment clears.

[wvasweetness]

@JR_TX  Hmm. This is good advice, and I hadn't thought of that. Where can I find specifics on Chase reporting $0 balance? They report it on a certain day of the month? Certain day of the cycle? Or.. ?

[JR_TX]

---

@wvasweetness wrote:

@JR_TX  Hmm. This is good advice, and I hadn't thought of that. Where can I find specifics on Chase reporting $0 balance? They report it on a certain day of the month? Certain day of the cycle? Or.. ?

---

It's their unofficial and unwritten rule AFAIK so any CSR you ask on their end might have no clue or just plainly will not say so. 

I however can attest to that based on my personal experience just last month. They reported my balance as 0 the day after my payment cleared then reported a new balance on their scheduled posting date about 8 days later. There are no certain days or cycles to that. Just as soon as payment clears and balance is zero then their system auto reports to the CRAs. At least that's my deduction based on the DPs floating around.

[Anonymous]

---

@wvasweetness wrote:

@JR_TX  Hmm. This is good advice, and I hadn't thought of that. Where can I find specifics on Chase reporting $0 balance? They report it on a certain day of the month? Certain day of the cycle? Or.. ?

---

Once it's $0, it'll automatically report within some couple days.

Alternatively Chase has a credit bureau specialist unit that can push manual updates for you quickly. Customer service can transfer you to them to request.

[wvasweetness]

@Anonymous  Another good option. I didn't know that! When you say "push manual updates", you mean they will push an update to the 3 CBs on request?

i wonder if this is my safest bet? Call and ask them to report the $50 after payment clears tomorrow? 

[HeavenOhio]

@wvasweetness, Chase will report to the bureaus upon request. That's rare among banks. Discover is another card that will do this. If you'd like $50 reported, bring your balance to that number, then call and ask the rep to have it reported.

If you pay to zero, that will automatically be reported. There are times when zero is reported and people don't want that. So they'll put a small balance on the card and ask that it be reported.

[wvasweetness]

Thanks for all of the valuable input. I called and requested Chase manually push the new lower balance.  The whole call took less than 3 minutes and they said the updated balance would report in 3-5 days.  It reported the next day (today) - woo hoo!