@CBrent wrote:I posted this question in the 'rebuilding your credit' forum as well, but it may be more appropriate here. Essentially, I'm wondering if a CR reflects card utilization in real time, or only the balance reported in the most recent statement. I ask because last night I purchased an Experian CR and it lists the current balance on my Capital One card, not the balance listed in my December statement. My January statement isn't scheduled to be issued for another week.
Then Cap 1 must have reported recently. The balances reported on your credit report are not real time. They are only updated when each creditor submits your balance and info to the CRAs, which USUALLY happens once a month a few days after your statement cuts, although some report more often and at different times.
@CBrent wrote:So, I can answer my own question after calling Capital One. Last week I disputed a Capital One item on my CR. When Capital One responded, the response included all current information, inlcuding my Capital One balance at that time, which Experian then used to update my CR.
Thank you for your response, -NewGuy-. I guess the lesson is (1) Know your statement dates and (2) know that a dispute also might update your credit report, so make sure your balances are all paid down. Fortunately my balance was under 10% at the time.
No problem. Statement date is the balance that will be reported most times. However, as someone else said, Chase has been known to report paying down to zero. I think that US Bank reports differently or on a different schedule or something as well. But your balance on your statement date is what will be reported in most situations.
Glad you got it all figured out 