Report : Statement date or current date?

[CreditScoreBlueprint]

My last Navy Federal statement date was yesterday (2/27/2012) and as of then I had an $8,000 credit limit. But today I requested a limit increase and was instantly approved for $12,500. I just checked my Equifax report and the NFCU card hasn't updated from last month yet. It should be updated by Thursday. Will they report the credit limit as of the statement date, or as of the day they report?

The reason I'm wondering is because I was planning to open a USAA card after my report updates, but now that I've received a limit increase with NFCU, I'm thinking I should wait another month for that increase to show before applying for the USAA card.

[pizzadude]

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@JABacchetta wrote:

My last Navy Federal statement date was yesterday (2/27/2012) and as of then I had an $8,000 credit limit. But today I requested a limit increase and was instantly approved for $12,500. I just checked my Equifax report and the NFCU card hasn't updated from last month yet. It should be updated by Thursday. Will they report the credit limit as of the statement date, or as of the day they report?

The reason I'm wondering is because I was planning to open a USAA card after my report updates, but now that I've received a limit increase with NFCU, I'm thinking I should wait another month for that increase to show before applying for the USAA card.

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Most of my creditors send updates to the CRAs when the statement is cut.   The CRAs take a few days to process, and when they report they will show the balance, credit limit and payment history as would shows on my statement.  

I suspect that Navy operates the same way so you may not see the new CL reflected until your next statement.   However it you are eager it might be worth a phone call to see if they can do an out of cycle update to the CRAs so that your new CL shows.

[bichonmom]

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@pizzadude wrote:

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@JABacchetta wrote:

My last Navy Federal statement date was yesterday (2/27/2012) and as of then I had an $8,000 credit limit. But today I requested a limit increase and was instantly approved for $12,500. I just checked my Equifax report and the NFCU card hasn't updated from last month yet. It should be updated by Thursday. Will they report the credit limit as of the statement date, or as of the day they report?

The reason I'm wondering is because I was planning to open a USAA card after my report updates, but now that I've received a limit increase with NFCU, I'm thinking I should wait another month for that increase to show before applying for the USAA card.

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Most of my creditors send updates to the CRAs when the statement is cut.   The CRAs take a few days to process, and when they report they will show the balance, credit limit and payment history as would shows on my statement.  

I suspect that Navy operates the same way so you may not see the new CL reflected until your next statement.   However it you are eager it might be worth a phone call to see if they can do an out of cycle update to the CRAs so that your new CL shows.

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+1  If the CLI was after your statement date, it will report to the CRAs when your next statement reports.

FWIW, it probably wouldn't make any difference in your approval w/USAA. I was waitng for a CLI to report to app for Amex, and it didn't affect my score one iota when it reported. 

[CreditScoreBlueprint]

A quick update in case anyone was interested...

I just checked my Experian and Equifax reports. Both are showing the new credit limit increase, even though I received the increase after the statement date!

[bichonmom]

Lucky! For some reason TU is always about 5 days later to report changes.

[LS2982]

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@JABacchetta wrote:

My last Navy Federal statement date was yesterday (2/27/2012) and as of then I had an $8,000 credit limit. But today I requested a limit increase and was instantly approved for $12,500. I just checked my Equifax report and the NFCU card hasn't updated from last month yet. It should be updated by Thursday. Will they report the credit limit as of the statement date, or as of the day they report?

The reason I'm wondering is because I was planning to open a USAA card after my report updates, but now that I've received a limit increase with NFCU, I'm thinking I should wait another month for that increase to show before applying for the USAA card.

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You should see the new updated CL on your next statement update (3/27)