So the end of my billing cycle was coming up, and I wanted my Amex to report $0 balance so I made a payment to bring the balance down to $0.
then Amex did a "payment adjustment" temporarily reversing my payment, so that my card would report a balance, then credited the payment back to my account after the statement closed.
Has anyone ever experienced this?
Yea gold card so it will really only affect accts with balances. I also now have a payment due, had they not done those weird shenanigans I wouldn't have a payment due. Not really sure how it all works, my account now has a $0 balance with a mimum
payment due. Never seen anything like it.
Out of curiosity what company is this? For some reason I have found that capital one is extremely slow when it comes to reporting. They always insist they report right away and when I look at my credit report it does say they reported the day after statement close.
But for some reason the bureaus still consistently take up to 2 weeks to update with capital one. My statement with them closes on the 24th of each month and the bureaus usually don't update the new information until the 5-6th of the following month. So about 12 days, I don't notice this with any other issuer.
the only things I can think of are:
A) some issuers take longer to report to the bureaus slowing everything down
or
B) the bureaus prioritize certain issuers, and update for said issuers quicker and put capital one on the back burner. So while cap1 did their job, and reported the info on time, the bureau sat on the info and took their time?
@SRT4kid93I find 2 of my Capital One cards (VX and Savor - they both have the same statement closing date) are pretty slow to report, but worst on Experian. This month has been typical and it took 6 days on TU, 7 on EQ, and a whopping 13 days for EX to update. The strange thing is that my other 2 cards from Capital One haven't taken that long. None of my cards from Discover and Amex take that long either (no data yet on NFCU cause Cash Rewards Plus hasn't reported at all yet).
How bizarre. As long as the actual "owed" and "paid" amounts clear eventually, I guess no major harm? Must be some end-of-cycle accounting. Payment posted too close to their statement generation time window or some such thing.
@TrapLine wrote:Going to add to your situation, I found Experian not clearing and reporting a balance to zero for 15 days. They have done this three times in the last year. Yes, it did affect my scoring. Now, I did find that Equifax and Trans Union had posted the correct current balance of zero within three days of statement close.
A game but why?
Do need to say this was a Visa Card not and American Express.
I have to admit this drives me nuts (yes, more than it should). Of course when a balance POSTS it's immediate. When a balance is PAID, eh, it could be a week, a month. NBD.
