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US Bank reports at the end of the month? Regardless of closing date?

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Valued Contributor

US Bank reports at the end of the month? Regardless of closing date?

 
Message 1 of 5
4 REPLIES 4
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Valued Contributor

Re: US Bank reports at the end of the month? Regardless of closing date?

They report your current balance on the last business day of the month. It may not hit your reports till several days later, but that's the amount you'll see.
AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 2 of 5
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Moderator

Re: US Bank reports at the end of the month? Regardless of closing date?

Optionally, given their month-end reporting, you can call them to align your payment due date so that the statement cycle/closing date coincides with the reporting date.

But, yep this is how USB rolls.
Message 3 of 5
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Regular Contributor

Re: US Bank reports at the end of the month? Regardless of closing date?

That is correct , they report your current statement balance , As of last business day of the month. So your Bank issued statement balance for that month can be 0 but if you have a balance at the end of the month, they will report whatever your current balance is. A lot of people move their due date to the end of the month.


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Message 4 of 5
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Community Leader
Valued Contributor

Re: US Bank reports at the end of the month? Regardless of closing date?

I agree with everyone else.  If you want to micromanage your balance from US Bank, I would recommend changing your due date to the 28th of the month.  

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Message 5 of 5
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