Good afternoon, so I am having an issue with Capital One SavorOne and the balances they are reporting. I recently saw that they reported a balance of 723.00 to my Equifax however I pay my card in full before statement date. Has any forum member had similiar issues with them?
Also, it seems that the prior month they reported a 132.00 when once again I PIF PRIOR to statement date. My payments owed are 0.00 on each statement. I pay WELL before statement date and dont use the card until new statement cycle has ran a few days.
That's strange. No, I haven't had this issue nor heard of anyone else that has. Have you tried calling and asking them?
I will be reaching out on monday, I just noticed when I made the thread. This hasn't happened with any other card. Super odd.
Below my last statement. As you can tell the balance was 0.00 yet it is reporting 723.00
It didn't ding my credit or anything but I am worried they may one day randomly report my balance before being paid and I am sure I will take a hit.
I paid in full 06/30 and statement date was the 07/14. No balance being carried.
After paying in full 06/30 there were no charges until 07/17 (new cycle) -
@disdreamin wrote:Did you pay before the due date or the statement date? I wonder if that's making a difference here.
@GatorGuy wrote:What is showing as your reporting date?
Remember that it is reporting date that is important not statement date if you want a zero balance to report. Usually statement and reporting dates are similar if not the same but sometimes completely unrelated like with US Bank.
For me, Capital One reports the last day of the statement period. Look and see what day it is reporting and make sure you have a zero balance by that day.
I may have to reach out and see what happened.
I was at 0.00 well before statement date and didn't run new charges until 2 or 3 days in new billing cycle. Appreciate the feedback
@purebulldogs wrote:I've had that happen with us bank. It seems the reporting date was different than the statement date. Even though I had a zero balance on the statement date, it was still showing the higher balance I had during the reporting date.
I always thought they all reported according to what the statement shows but it seems they dont do it that way
with us bank, I kept it at a zero balance longer and got lucky and it showed zero on the reports. Us bank told me the reporting date could be any date they choose and wasn't a snap shot of each statement
It's pretty well documented on here that US Bank is one of those outliers that reports your balance at the end of the month, not the balance at statement cut. Don't listen to the garbage their CSRs told you.