US bank reporting by end of month regardless of statement closing date. Is this the norm for them?

[Superduper2014]

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@randomguy1 wrote:

I have a related question regarding this... if you are approved for a new card, will it report to the credit bureaus on the last day of the month if you get it late in the month? Is there a general cutoff? 

example: approved on 15th, reports on 30th/31st?

Approved on 28th, report on 30th? Just wondering what is the best date to apply to delay reporting. 

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What I saw happening to my GF is this: approved mid month and then reports on 30th/31st that a NEW card was open. They reported available credit and no balance. So in her case, they definitely reported a new card on the same month. If it was closer to the end of the month that they opened the card, maybe it would have reported the following month. This is my experience only. 

[randomguy1]

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@Superduper2014 wrote:

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@randomguy1 wrote:

I have a related question regarding this... if you are approved for a new card, will it report to the credit bureaus on the last day of the month if you get it late in the month? Is there a general cutoff? 

example: approved on 15th, reports on 30th/31st?

Approved on 28th, report on 30th? Just wondering what is the best date to apply to delay reporting. 

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What I saw happening to my GF is this: approved mid month and then reports on 30th/31st that a NEW card was open. They reported available credit and no balance. So in her case, they definitely reported a new card on the same month. If it was closer to the end of the month that they opened the card, maybe it would have reported the following month. This is my experience only. 

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Appreciate you posting this data point and your experience. I'll probably apply closer towards the EOM. 

[zerofire]

US Bank and their 3rd party financing arm Elan Financial will report at the end/beginning of the month. To this day we do not know if it is the first or thirty-first but we have a good idea of when it happens. The two share a reporting system and Elan Financial does processing for other banks or entities like Webster Bank and Fidelity.  New accounts are usually reported within 7 days but might take until the end of the month. It is a peculiarity of this lender but nothing that we did no know about. Every so often someone shouts that they found this particular wheel and tries to claim the invention.

[Superduper2014]

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@zerofire wrote:

US Bank and their 3rd party financing arm Elan Financial will report at the end/beginning of the month. To this day we do not know if it is the first or thirty-first but we have a good idea of when it happens. The two share a reporting system and Elan Financial does processing for other banks or entities like Webster Bank and Fidelity.  New accounts are usually reported within 7 days but might take until the end of the month. It is a peculiarity of this lender but nothing that we did no know about. Every so often someone shouts that they found this particular wheel and tries to claim the invention.

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I am glad I didn't try to claim this one! lol.. 

I was checking my reports and I don't see them updating anything yet and it is the 1st. 

It has happened to me before (not claiming new inventions) that then I will update my reports in a few days and I will see that the bureaus show that it was updated a few days back with I actually looked at it and it was NOT updated. Does this happen to you guys as well?

[zerofire]

Usually the bureau will need a little bit of time to sort through the massive pile of documentation the lender gives them. The info does not become available for anyone requesting to view immediately. Also most updates happen off peak which will be at night. They still have plenty of time left to get everything reported today since most of it is done by computers.