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First statement cut after 50+ days?? Is this normal for Citi?

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NaaryalHead
Regular Contributor

Re: First statement cut after 50+ days?? Is this normal for Citi?

To be clear, with this Citi Card, the first due date was set about 2ish weeks from activation and statement cut was marked within the first 20ish days. It only got pushed so far ahead after I poked it around with the due date change D:


5k+ CLs: Chase Amazon, Cap1 QS1,
10k+ CLs: BofA Cash Rewards, Amex Cash Magnet, Citi DC, Barclays Uber, Citi Premier, Chase Saphire Preff,Cap1 Savor1



Torch bearer of the Bucketeers' Society. Shamefully carrying a bucketed Cap One QS1 with AF & zero chance of a PC.
Message 11 of 14
KJinNC
Valued Contributor

Re: First statement cut after 50+ days?? Is this normal for Citi?

I'm new to the rebuild/build process. I have four new credit cards received in the last six weeks. Two of them showed up on credit reports right away. Still waiting for the other two to show up. There must be reasons why some show up quickly and some don't (might have just made a deadline for some and just missed a deadline for others), but it's confusing as a consumer. I got my Discover secured card and activated it a day or two before the normal statement day in May. But in customer service chat, they told me my first statement will be June 15. I suppose they think it's unfair to give a statement within a few days of when the customer starts using the card. I would prefer they had done that, because I want to start the clock on unsecuring the card. They start considering after seven statements. In the long run, it doesn't matter, though. What's a month here and there?



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 12 of 14
NaaryalHead
Regular Contributor

Re: First statement cut after 50+ days?? Is this normal for Citi?

From what I understand as someone mentioned in this thread previously, your account opening date will still be correct even if they report the account 2 months late.

 

As for reporting delay/frequency, it can vary from bank to bank. Some banks are just terrible and have a long gap when they report the statements to CRAs, others do it faster and it goes the other way around too I believe. E.g. Citi's monthly fico score update can take almost 10-12 days to show up and Citi is lazy to report the statement to CRAs too. Its like they've this agreement, bank provides CRAs info faster, CRAs provide them fico scores faster etc. Just my personal theory.

 

Chase reports immediately to CRAs if you pay down a balance to 0, regardless of statement date and I notice Chase's Fico score/report is the most comprehensive showing individual account balances / dates etc unlike many other banks who just provied the bare minimum like barclay's terrible fico score which updates every 60 days only and you only get a single 3 digit score is all.


5k+ CLs: Chase Amazon, Cap1 QS1,
10k+ CLs: BofA Cash Rewards, Amex Cash Magnet, Citi DC, Barclays Uber, Citi Premier, Chase Saphire Preff,Cap1 Savor1



Torch bearer of the Bucketeers' Society. Shamefully carrying a bucketed Cap One QS1 with AF & zero chance of a PC.
Message 13 of 14
KJinNC
Valued Contributor

Re: First statement cut after 50+ days?? Is this normal for Citi?

In my case, the fastest card to show up for me was Citi. In fact, they were the fastest in every way - first approved, first received, first to show up on credit reports. The other card that's showing up for me is a Primor Green Dot. The two I am waiting on are Capital One Platinum and Discover. I applied for all of them within a week of each other, except for Discover, which came a couple of weeks later, so for me, the slowpoke seems to be Capital One and the speed demon appears to be Citi. But I think it's probably random to a large extent, based on what date in the month you get approved vs what date they issue statements or report to credit bureaus.

 

Yes, I was happy to see the part about account age. But I keep seeing that cards consider you for unsecured after X number of statements, not based on months since the account was opened. In the long run, a month isn't that important, though, it's just impatience.



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 14 of 14
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