cancel
Showing results for 
Search instead for 
Did you mean: 

US Bank reporting current balance, not statement balance??

expatCanuck
Super Contributor

US Bank reporting current balance, not statement balance??

New to US Bank.  I can see that it's reporting my (non-zero) card balance, and not the (zero) statement balance. 

 

Is this typical?

Message 1 of 7
6 REPLIES 6
FinStar
Moderator

Re: US Bank reporting current balance, not statement balance??

US Bank typically reports on the last business day of the month, not on your statement cycle date unless it coincides with the latter.

Pro tip - to avoid these inconsistencies, have them change your due date to a timeframe that is close to the standard USB reporting timeframe.
Message 2 of 7
expatCanuck
Super Contributor

Re: US Bank reporting current balance, not statement balance??

Thanks.
Or, presumably, if it matters to you, pay the balance to zero (say) two business days before the last business day of the month.
Message 3 of 7
FinStar
Moderator

Re: US Bank reporting current balance, not statement balance??

Sure, that's definitely doable for anyone who wants to exercise AZEO methods, but it may shorten the float cycle.
Message 4 of 7
M_Smart007
Epic Contributor

Re: US Bank reporting current balance, not statement balance??


@expatCanuck wrote:

New to US Bank.  I can see that it's reporting my (non-zero) card balance, and not the (zero) statement balance. 

 

Is this typical?


I changed My Due Dates to the 23rd on one card and the 24th on the other.

then they report the balance on the last bus. day of the Month. can take a few days to hit all the bureaus.

 

So I usually PIF on the Due date.

 

Message 5 of 7
SBR249
Established Contributor

Re: US Bank reporting current balance, not statement balance??

I would actually consider the fixed reporting date a plus if one is doing AZEO. It saves you from having to figure out which card will be the EO any particular month, you just have to make sure the USB card has a small balance at the end of the month and then pay everything to zero before statements cut. Way simpler. 

Message 6 of 7
Trudy
Valued Contributor

Re: US Bank reporting current balance, not statement balance??


@FinStar wrote:
US Bank typically reports on the last business day of the month, not on your statement cycle date unless it coincides with the latter.

Pro tip - to avoid these inconsistencies, have them change your due date to a timeframe that is close to the standard USB reporting timeframe.

This is exactly what I did since they report the balance as of the last day of the month.  Moved it from the 20th to the 28th.  

FICO - 8: 05/07/21 AU 8 BC 8
FICO - 9: 05/07/21 AU 9 BC 9
F5,F4,F2 05/07/21 AU... BC...
Vantage 05/07/21
As of 05/01/21:
AoOA - 25Y2M | AoYA – 0Y6M | AAoA – 12Y0M
Open: 11 CC: (1 reporting 8.02% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 58.15% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 2/24 | (EX) 1/24
Message 7 of 7
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.