Does pending transaction ON closing date report?

[Anonymous]

Not sure if this answer varies by creditor, or if there's a hard and fast rule.

Example, my Citi DC card has the payment due on the 22nd and the statement closes on the 26th (today).  I didn't make any purchases on the card between the 19th and today as I wanted to make sure a very specific amount reports on the card this month.  Surprise surprise, my cell phone auto pay landed on the account today, so it shows a pending transaction. 

My question is, when the statement period closes today with that one pending transaction, will the reported balance be before that pending transaction, or is the pending transaction taken into account and considered part of the reported balance?

[kdm31091]

It will only report if the charge has cleared and is officially part of your balance. Otherwise nothing to worry about. Pending transactions won't count.

[sunkissed]

In my experience, it depends. If a charge has been pending for a couple of days, it may end up on the statement. However, if a charge shows up as pending for the first time on statement close day, it usually  continues to pend and the statement closes without that charge.

I have found this to be true for Citibank.

[Anonymous]

Cool, good info above from both of you.

Hopefully the pending transaction since it just showed up today won't show up then since it will definitely still be pending when the statement period closes at the end of today. 

I allowed a $1.00 balance to remain on my account after a $4200 payoff last week, simply because I'm doing a fun test with all of my creditors to see what the smallest balance is that they'll report.  Citi is my last one for this test, so I'd hate to have to wait another full month (another reporting) to get my final data point before starting a fun thread

[Anonymous]

Update here, Citi DID include the amount of the pending transaction in my statement balance!  Annoying... The transaction was pending yesterday when my statement closed and didn't post until today, obviously after it was closed, but my statement balance includes that transaction.

Now I'm going to have to change the date that my cell phone auto pay comes out, or switch it to another card. 

I'm going to try next week to get Citi to do a mid-cycle reporting for me, as I don't want to wait another month to test my $1.00 reporting data point with them.  Citi has been working on getting my account to report to TU (it hasn't after 5 cycles now) and last week did an extra reporting in an effort to get it to do so.  If I bring my balance back down to what I want it to be next week and call them and request another reporting I think they may do it for me again.  We'll see.

Just a heads up to whoever has a pending transaction on their Citi account, it definitely CAN be included in your statement balance if it is pending the day your statement closes.

[noobody]

most the banks do that

i find out while it take 3-5 days from pendinng to post during the month, most banks RUSH the process the same day on statement cut day, so they can get their money in 25 days instead of 55

[Kforce]

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@noobody wrote:

most the banks do that

i find out while it take 3-5 days from pendinng to post during the month, most banks RUSH the process the same day on statement cut day, so they can get their money in 25 days instead of 55

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 Citi definitely will "Rush Pending", 

 I am not sure on my other accounts.

 Seems like I feel a new test in my future!

 

[Anonymous]

**bleep** autopays...  I never considered the rushing of a pending charge at statement closing period.

[NRB525]

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@Anonymous wrote:

Update here, Citi DID include the amount of the pending transaction in my statement balance!  Annoying... The transaction was pending yesterday when my statement closed and didn't post until today, obviously after it was closed, but my statement balance includes that transaction.

Now I'm going to have to change the date that my cell phone auto pay comes out, or switch it to another card. 

I'm going to try next week to get Citi to do a mid-cycle reporting for me, as I don't want to wait another month to test my $1.00 reporting data point with them.  Citi has been working on getting my account to report to TU (it hasn't after 5 cycles now) and last week did an extra reporting in an effort to get it to do so.  If I bring my balance back down to what I want it to be next week and call them and request another reporting I think they may do it for me again.  We'll see.

Just a heads up to whoever has a pending transaction on their Citi account, it definitely CAN be included in your statement balance if it is pending the day your statement closes.

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Not too surprising, really.  A pending charge during the day can easily be picked up by a batch process overnight. The “statement date” depends on a number of factors, so these types of charges can be included. 

[UpperNwGuy]

I, too, have observed that banks usually process pending charges with surprising speed on the night the statement closes.  I have always disliked auto pay because it takes away my control over the process.  I only use auto pay when I am required to do so.  Finally, I think you will find it easier to change your credit card billing date than your cell phone billing date.