Newly Opened Credit Cards - First Statement Reporting??

[Anonymous]

Just opened 2 credit cards - Discover & Cap 1 Platinum to begin the AZEO method. 

My question is in regards the very first statement / payment / reporting ever. 

I know my first due date for Discover will be June 4th and Cap 1 June 9th. 

Do I have to make my payments before the first statements are generated sometime later this month...

or am I okay if I pay by their actual due dates.

I may be having a total brain fart moment but I am really confused --- please clarify!

Thanks! 

PS I do have 2 additional CCs - I am aware of the minimum being 3 for max benefit of AZEO. 

[HeavenOhio]

Paying by the first due date is fine. Paying before the first statement is only necessary if you wish to control the balance on that statement.

[Anonymous]

Hello....Thanks for replying! 

Okay so my first statement balance is not what will be reported to the bureaus? 

What will be reported is the balance that remains after payment posts.....right? 

[HeavenOhio]

With Discover and Capital One, whatever balance is on your first statement is what will be reported. If you've made charges and your balances are higher than you'd like, you can make payments to lower those balances before the statements cut.

Otherwise, if you wait until the first due date, your lenders will be happy.

[Anonymous]

Okey doke, thanks. 

Would you happen to know how soon after receiving/using my Discover card, will they generate the first statment? 

For example, with Cap 1 I just received it yesterday, so I haven't used it at all....but they've let me know that a first statement will be generated by May 13th...with a minumum payment due.

Discover has only provided me with my first due date...not a statement ready by date.

[Adkins]

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@Anonymous wrote:

Okey doke, thanks. 

Would you happen to know how soon after receiving/using my Discover card, will they generate the first statment? 

For example, with Cap 1 I just received it yesterday, so I haven't used it at all....but they've let me know that a first statement will be generated by May 13th...with a minumum payment due.

Discover has only provided me with my first due date...not a statement ready by date.

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Call them and ask. 

[Anonymous]

Tried their chat feature...pretty awesome. 

She said my cycle date is the 9th....and that I'd be able to view my first statement on the 10th. 

So the balance on that statement is what will get reported to the bureaus. 

Does cycle/statement closing date = reporting date with most CCs...???

Sorry for all the newbie questions...just want to have all my ducks in a row. 

[Adkins]

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@Anonymous wrote:

Tried their chat feature...pretty awesome. 

She said my cycle date is the 9th....and that I'd be able to view my first statement on the 10th. 

So the balance on that statement is what will get reported to the bureaus. 

Does cycle/statement closing date = reporting date with most CCs...???

Sorry for all the newbie questions...just want to have all my ducks in a row. 

---

Yes usually, or it'll be reported a few days later to the CRAs. It's also worth it to note a lender can report the statement information to the CRAs, but that doesn't mean the CRAs will update that information immediately. It might take 24-48 hours. 

[Anonymous]

Yes, I noticed that. One of my CC's reported May 3rd...yet EQ & TU didn't show updates until May 6th and EX on May 7th. 

Thanks for your help. 

[Adkins]

N/p.