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I'm sure this isn't news to those of you with experience in credit, but for newbies like myself this could be useful information. I received an alert to credit changes yesterday. I was caught with my pants down when Discover did a mid-cylce report! My util was high as I hadn't paid it yet, knowing my statement closes on the 19th. My scores fell several points. When I called to find out what the frickety-frack was going on, the rep informed me that any changes to my account would trigger a report, including adding an authorized user (which was what happened in my case.) I did a bank push for PIF and the rep assured me Discover would still do my post-statement report on the 20th and that would reflect the $0 balance bringing my utilization back down.
While on the phone with her, I went ahead and added money to my secured deposit. She informed me it would take 8 days to pull from my bank and post to the account, triggering another report because this was an additional change to the account.
I hope this helps someone. Had I known this would happen, I would've paid my account in full, added the additional funds, waited for them to post, then added my adult daughter as an AU. I have so much to learn, but I'm getting there.
Had same experience last week with discover. I added a authorized user and it reported also my current balance at the time in the middle of the cycle.
Thank you very much for this information! Planning on adding an AU to my card and glad I didn't when I first thought of it with the card maxed out. lol
This was very helpful information. Thank you for sharing!
@601flyguy wrote:
They will also off cycle report upon request just fyi.
This is good information to know, thank you!
Thank you for this information! This helped me out!
While on the phone with her, I went ahead and added money to my secured deposit. She informed me it would take 8 days to pull from my bank and post to the account, triggering another report because this was an additional change to the account.
Is it a hard pull when you do this?