Does Capital One report multiple payments in a month or Just 1

[Anonymous]

I have utilization at 17% right now but this month I went up to nearly 60% and my  due date is coming up and I can only make partial payment but not enough to make a significant difference. I will be able to make the rest of the payments throughout the month to bring it down to just below 17% again. Since I have not done multiple payments in a month before my question is:

If I make multiple payments beyond the due date do they report it to the cra or do I have to wait until the next due date for it to post.? This is for capital one. Mine is due on the 4th and it always post by the 7th to the cra. Does capital one only report once a month or every time there is a payment?

thanks.

[Anonymous]

No, Cap1 will only report whatever your statement balance is after your statement cuts once a month. So if your statement reports 60% util, that is what will be reported to the credit bureaus.

[Anonymous]

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

[Anonymous]

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@Anonymous wrote:

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

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Yes, your score will take a hit from any util 30% or higher, and even more of a hit over 50%.. but don't sweat it, it's only temporary until you get your util down. I quit micro-managing my util and statement cut dates -- it was too much work. Plus, I would end up having lenders like Synchrony who would all of the sudden start reporting my util mid-cycle -- ugh! So I gave up; if my util reports high one month, oh well; it's not gonna kill me 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

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Yes, your score will take a hit from any util 30% or higher, and even more of a hit over 50%.. but don't sweat it, it's only temporary until you get your util down. I quit micro-managing my util and statement cut dates -- it was too much work. Plus, I would end up having lenders like Synchrony who would all of the sudden start reporting my util mid-cycle -- ugh! So I gave up; if my util reports high one month, oh well; it's not gonna kill me 

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+1

We tend to OVER due this aspect, on the ongoing basis it's isn't THAT big a deal....it really only becomes a 'micro-manage' situation when one is planning on actively

@apping for mortgages, car loan and to a lesser degree CC...otherwise as @Anonymous states it's not worth the effort nor headache.

The 'point' is to KNOW...'how' it works and what to do WHEN required......

Ex: I 'know' my score is going to be lower WHEN my balance is X (like the OP ) 'this' month but next month the score will be based upon the data sent 'that' month.

We 'see' the score as a running total but the model just scores as it sees....each and every time 'brand new' as if it JUST met you....kinda like that movies '50 first dates' it doesn't "remember" yesterday....

It's like playing 'Ms Pac Man' ( yeah I'm old lol) the 'game' just gives you TODAY'S score...YOU and your friends 'recall' WHO did what.... the game could give a crap less, it just scores the game in front it RIGHT NOW, same with credit scoring

We say 'my score IS but really it's my score WAS...b/c the moment we get it, it's history...and 'forgotten' by the computer program just sitting there waiting to crunch the 'next' set of data ANY data, no emotion....just like Ms PacMan waiting for the next quarter!

[SouthJamaica]

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@Anonymous wrote:

I have utilization at 17% right now but this month I went up to nearly 60% and my  due date is coming up and I can only make partial payment but not enough to make a significant difference. I will be able to make the rest of the payments throughout the month to bring it down to just below 17% again. Since I have not done multiple payments in a month before my question is:

If I make multiple payments beyond the due date do they report it to the cra or do I have to wait until the next due date for it to post.? This is for capital one. Mine is due on the 4th and it always post by the 7th to the cra. Does capital one only report once a month or every time there is a payment?

thanks.

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Payments made online between the due date and the statement date are reflected in the statement balance

[takeshi74]

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@Anonymous wrote:

If I make multiple payments beyond the due date do they report it to the cra or do I have to wait until the next due date for it to post.?

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Most creditors report once a month and most report on statement date, not due date.  By the time the due date comes around your balance reported long ago as there's a grace period between statement end and due date.

Chase is a bit unusal in that if you pay your balance down to 0 they will perform a midcycle update and report the 0 balance.

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@Anonymous wrote:

Mine is due on the 4th and it always post by the 7th to the cra.

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Then the 7th is the report date for the current cycle.  The 4th is the due date for the prior cycle.  The cycle that closes on or around 5/7 will have a payment due on 6/4.

The payment due on 5/4 is for the cycle that ended back on 4/7 which is when that balance reported.

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@Anonymous wrote:

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

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Doesn't really matter.  Your scores will recover the next time the account reports and lower utilization reports.  Short term high utilization generally isn't an issue.  It's prolonged high utilization that can lead to adverse action.  Don't obsess over having high utilization one cycle.  Are you applying for new credit/requesting a CLI/etc before the balance reports for the next cycle?

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@Anonymous wrote:

Yes, your score will take a hit from any util 30% or higher

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Scores are affected below 30% as well.  30% is a just a suggested maximum.

[Anonymous]

Feel you on that ouch have 250 avail sl from 3k went to Boston and won't be able to pay it off for another week and statement cuts tomorrow lol.

[grillandwinemaster]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

---

Yes, your score will take a hit from any util 30% or higher, and even more of a hit over 50%.. but don't sweat it, it's only temporary until you get your util down. I quit micro-managing my util and statement cut dates -- it was too much work. Plus, I would end up having lenders like Synchrony who would all of the sudden start reporting my util mid-cycle -- ugh! So I gave up; if my util reports high one month, oh well; it's not gonna kill me 

---

+1

We tend to OVER due this aspect, on the ongoing basis it's isn't THAT big a deal....it really only becomes a 'micro-manage' situation when one is planning on actively

@apping for mortgages, car loan and to a lesser degree CC...otherwise as @Anonymous states it's not worth the effort nor headache.

The 'point' is to KNOW...'how' it works and what to do WHEN required......

Ex: I 'know' my score is going to be lower WHEN my balance is X (like the OP ) 'this' month but next month the score will be based upon the data sent 'that' month.

We 'see' the score as a running total but the model just scores as it sees....each and every time 'brand new' as if it JUST met you....kinda like that movies '50 first dates' it doesn't "remember" yesterday....

It's like playing 'Ms Pac Man' ( yeah I'm old lol) the 'game' just gives you TODAY'S score...YOU and your friends 'recall' WHO did what.... the game could give a crap less, it just scores the game in front it RIGHT NOW, same with credit scoring

We say 'my score IS but really it's my score WAS...b/c the moment we get it, it's history...and 'forgotten' by the computer program just sitting there waiting to crunch the 'next' set of data ANY data, no emotion....just like Ms PacMan waiting for the next quarter!

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Wow Gemini!!

Sounds like you have some suppressed, pent-up frustration from 80's gaming! Lol

And a reference to 50 first dates, all in one "angry" post! But seriously, I enjoyed your reply, and your answer was spot on!

[Anonymous]

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@takeshi74 wrote:

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@Anonymous wrote:

If I make multiple payments beyond the due date do they report it to the cra or do I have to wait until the next due date for it to post.?

---

Most creditors report once a month and most report on statement date, not due date.  By the time the due date comes around your balance reported long ago as there's a grace period between statement end and due date.

Chase is a bit unusal in that if you pay your balance down to 0 they will perform a midcycle update and report the 0 balance.

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@Anonymous wrote:

Mine is due on the 4th and it always post by the 7th to the cra.

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Then the 7th is the report date for the current cycle.  The 4th is the due date for the prior cycle.  The cycle that closes on or around 5/7 will have a payment due on 6/4.

The payment due on 5/4 is for the cycle that ended back on 4/7 which is when that balance reported.

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@Anonymous wrote:

thanks for the response. ouch, that is going to hurt and I hope I don't take a big ding for the month for higher util.

---

Doesn't really matter.  Your scores will recover the next time the account reports and lower utilization reports.  Short term high utilization generally isn't an issue.  It's prolonged high utilization that can lead to adverse action.  Don't obsess over having high utilization one cycle.  Are you applying for new credit/requesting a CLI/etc before the balance reports for the next cycle?

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@Anonymous wrote:

Yes, your score will take a hit from any util 30% or higher

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Scores are affected below 30% as well.  30% is a just a suggested maximum.

My last baddie is coming off soon and I wanted to see that boost but with the util going higher, i assumed it would take a dive instead.

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