RE: danlaxx1 "How do you know when they reported and why is it important?"
The update was important for me because Orchard was reporting a balance of $1898 on a credit limit of $2000 as of 02/2010. After the update, my current balance of $78 is being report which brings my overall utilization down to 2%.
I wonder why they skip. Error or do you think it saves them money?
I've seen a few cards lag a month or three, particularly when the balance is completely paid off. Generates more business for Myfico but I think it's just laziness on the part of the CCC.
My balance was updated after a 2 month delay by simply doing an online dispute with the CRAs and stating that they verfiy balance and account info. It was updated 2 days after I filed the dispute online..... It worked very well!!!!
Just checked my credit report and HSBC has updated my account to April, 2010.
I suspect they do lag behind a month.
Same thing with my American Express Card. They have been updating around the first of the month
and I have a closing date on the 24 of the month. My account has updated in May already.
My problem with HSBC is getting them to provide me with a true closing date. I sent a secure message
and was told to contact a CSR which I did. Was informed closing date would be the 17th of May. Tried
to check out my balance on the 18th and nothing was updated, called CSR and again was told my closing
date was the 17th. Received an e-mail on Saturday from HSBC that my statement was available on line.
Checked out my account and my closing date was the 18th. Seems one can't win.
Not too concerned, just curious as to what their problems may be with providing correct information.