Balance Reporting and GEMB

[Anonymous]

Hi all,

I have a CC with GEMB, my statement closing date is on December 15th, I made sure that I made a payment and it was posted before the statement closing date.  GEMB went ahead and reported the previous balance before the payment.   I called and GEMB said that it was an error but the best they could do was put in for it to be adjusted but it would take up to 30 days.   Can I dispute this?  My score is going to take a hit on this as my utilization is going to go from 30% to 40%.   Would it even get fix within 30 days? 

[MarineVietVet]

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@Anonymous wrote:

Hi all,

I have a CC with GEMB, my statement closing date is on December 15th, I made sure that I made a payment and it was posted before the statement closing date.  GEMB went ahead and reported the previous balance before the payment.   I called and GEMB said that it was an error but the best they could do was put in for it to be adjusted but it would take up to 30 days.   Can I dispute this?  My score is going to take a hit on this as my utilization is going to go from 30% to 40%.   Would it even get fix within 30 days? 

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This is unfortunate (easy for me to say since it happened to someone else) but I wouldn't worry about it. You'll get the points back the next month. I would be concerned however if their mistake cost me any finance charges.

7/09 TU-742 EQ- 779
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802

CC interest free as of 8/09
"Hello my name is Sandy and I'm a recovering crediholic".

[Jazzzy]

Are you planning to apply for new credit within the next 30 days?

[Anonymous]

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Yes I am.  I was planning on buying a new car.  Looks like I am going to have to push it off till next month.   

[Lel]

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fumbducker wrote:

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Yes I am.  I was planning on buying a new car.  Looks like I am going to have to push it off till next month.   

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Going from 30% to 40% utilization might not make a significant difference in your score.  Where are you at right now?

You might want to still consider buying that car now, before the end of the year.  Remember that the sales tax on a new car is tax-deductible if you buy the car by December 31.  The income tax savings could more than offset any increase in monthly payment that might come with a higher interest rate.  And you would get that income tax refund right away (or rather, when you file your taxes) as opposed to having a slightly lower monthly payment over the lifetime of the loan.

[Anonymous]

Exactly, I got from 30 to 40 right now.  IF GEMB showed correctly I would be at 30% and then my next card reports on the 25th or in the case of this month 24th.  That would move me to 5%.   I am right at 600 with a non auto fico.   It was my hope to be close to 620 with a non-auto fico by christmas.  @620 and 20% down I would be able to get 8% from my CU and who knows i might get lucky somewhere else.  Now I am not sure.

[Anonymous]

I found this interesting - the statement closes at 12pm on the 15th.  my payment posted on the 15th at 12pm (even though the website states payments made before 4pm pst post at 4pm)   <----that applies to late fees only not reporting O.o   Even better my bank reported the money got pulled out at 12:01 am on the 15th.  The payment was scheduled days earlier.  My fico went down 30points.  

[Jazzzy]

We usually make our payment about 3 days before the statement cuts. We may end up with some small balances showing at times because we continue to use the cards, but at least most of the balance is paid. I find it very unpredictable as to when payments actually post, and I don't want to cut it too close.

[Anonymous]

I agree with you - my payment was made early too. It did not get pulled from my bank until 1201am on the 15th and post to their account at 12pm on the 15th.  I made a .pdf of my screen showing the early payment.    GEMB at least gave me a credit on the finance charge.  Since this account has no fees, i think I am going to send it to the sock drawer.