Chase - Multiple balance updates on one card in 8 days?

[Rowdy_Randolf]

Yes, that's exactly what I'm seeing! And I'm surprised Chase hasn't caught it yet - surely the extra resources involved in all of these updates must trigger some type of red flag. And why aren't other people wondering what's going on? Other than you or me, I haven't heard a peep about it 🤷‍♂️

[SouthJamaica]

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@Rowdy_Randolf wrote:

Yes, that's exactly what I'm seeing! And I'm surprised Chase hasn't caught it yet - surely the extra resources involved in all of these updates must trigger some type of red flag. And why aren't other people wondering what's going on? Other than you or me, I haven't heard a peep about it 🤷‍♂️

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I sent them a direct message.

They responded with some baloney about how it's the credit bureau, not them, that determines what gets reported and when.

Bank customer service reps just seem to make it up as they go along.

[Rowdy_Randolf]

It's the credit bureaus? Sounds legit! It's much more likely that the 3 credit bureaus all suddenly decided at the same time to start scraping daily balance data from privately held accounts than for it to be a mistake on Chase's part. Occam's razor and all that 🤪
Now a little update: I paid the account balance down to zero for a second time this statement period just to see what happens. It should report in a few days on EQ and TU if it runs true to form. I'll update this post when I see it hit.

[DONZI]

..aside from the financials roller coaster in the market, perhaps something related to FRC merging? I certainly wouldn't rule out CRA being part of it but can also see that maybe there are a bit of adjustments going on with once boring, stable mechanics given the changing landscape.

[Rowdy_Randolf]

Morning @DONZI ,

The FRC merger? I hadn't considered that, but it seems as likely as any other possibility; I'm aware that M&As often cause hiccups. It may be a moot point now, because I haven't seen any fresh mid-cycle updates for several days now. Maybe they have stopped. Bummer if true - I rather liked seeing them. 

[DONZI]

In some situations having daily reporting would be kind of nice, I guess. Possibly a genie in a bottle.

Perhaps JPM/Chase just wanted to hook up the EKG for a while instead of taking a monthly pulse.. to use/provide a bit of snapshot data.

[Rowdy_Randolf]

Ha! The EKG thing might be a bit of a stretch, but I like the way you think @DONZI  😁

[Rowdy_Randolf]

Update on 6/28/23:

It's all over. Chase is back to reporting balances normally and promptly. Both I and my wife have seen statement balances reported to the credit bureaus in the normal manner in the last 2 days. No more running balance updates. Was interesting while it lasted.

Thank you to all who took the time to respond,

Rowdy

[Junejer]

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@Rowdy_Randolf wrote:

Here's a new one for me :

A largish balance reported to TU on the 6th for a Chase sapphire preferred I have. I coincidentally paid off the acct balance the same day it reported, a few days after the statement generated. On the 12th, I noticed Chase did a mid-cycle balance update, but it wasn't $0 - it was $144. Today, (the 14th) I noticed Chase updated the balance again, to $177. There may have been other updates on my TU report also, but those are the ones I noticed. 
Usually when my chase cards mid-cycle report, it says $0. Is this a new thing or just a peculiar one-off? 
I don't know if it has updated on EQ like TU, but slow-poke EX still shows the original statement balance, and I check it daily.

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This also happened to me this month. DW lost her Freedom card, so I ordered another. The statement balance on June 2 was $0. When the cards came, some auto payments hit and they updated the balance to $184 on around June 9th. Then, they updated the balance again on June 12th to $298. This is the first time I have ever seen them do that as well.

For me, EX is still the fastest to update, followed by EQ, then TU if they decide they want to update.

[Junejer]

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@SouthJamaica wrote:

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@Rowdy_Randolf wrote:

Yes, that's exactly what I'm seeing! And I'm surprised Chase hasn't caught it yet - surely the extra resources involved in all of these updates must trigger some type of red flag. And why aren't other people wondering what's going on? Other than you or me, I haven't heard a peep about it 🤷‍♂️

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I sent them a direct message.

They responded with some baloney about how it's the credit bureau, not them, that determines what gets reported and when.

Bank customer service reps just seem to make it up as they go along.

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And how would the credit bureau know the balance if you didn't report it to them, Chase?