Chase and Mid-Period Reporting.

[ThomasJNewton]

Assume the following:

Statement closes on the 28th of the month with a balance of $5,000.

On the first, the balance reports.

On the second, a new charge is made for $100, and shows up as pending.

On the third the $5,000 is paid.

Three questions:

1. When does Chase report the $0 balance:
   1. When the payment is made?
   2. When the payment completes processing?
   3. Some other date?
2. If after the payment has been submitted but before the $0 balance is reported, the pending charge  completes, will that prevent the $0 balance from reporting? In otherwords, is the $0 balance based on the balance when the payment was made or when the payement clears?
3. Do any of these things change if the payment is made on Friday (or some other bank holiday)?

[Shooting-For-800]

After your next statement is cut.

Whatever your balance is the day the statement cuts is what will be reported after said statement cuts.

Some cards report balance increases before statements but I doubt they report decreases often.

[Horseshoez]

@ThomasJNewton, if you're trying to do AZEO, don't use a Chase card.  I've observed my two Chase cards reporting immediately after the statement cuts, regardless of balance and what is pending, and again if the current balance is zero AND no pending payments.

[ThomasJNewton]

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@Horseshoez wrote:

@ThomasJNewton, if you're trying to do AZEO, don't use a Chase card.  I've observed my two Chase cards reporting immediately after the statement cuts, regardless of balance and what is pending, and again if the current balance is zero AND no pending payments.

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Was not trying to do AZEO as I only have two cards and so it does not work for me. :-) I want to get it to report $0, so I am tying to figure out what I need to do. I know they report when the balance gets to $0, but was not sure what happens with pending charges. Did you mean pending payments or pending charges?

[Horseshoez]

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@ThomasJNewton wrote:

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@Horseshoez wrote:

@ThomasJNewton, if you're trying to do AZEO, don't use a Chase card.  I've observed my two Chase cards reporting immediately after the statement cuts, regardless of balance and what is pending, and again if the current balance is zero AND no pending payments.

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Was not trying to do AZEO as I only have two cards and so it does not work for me. :-) I want to get it to report $0, so I am tying to figure out what I need to do. I know they report when the balance gets to $0, but was not sure what happens with pending charges. Did you mean pending payments or pending charges?

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You really don't want both cards reporting zero, yes, AZEO with three cards is considered optimal, but back when I only had two cards the months when my accounts happened to report AZEO definitely showed me with higher scores than all zero (AZ).

[SouthJamaica]

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@ThomasJNewton wrote:

Assume the following:

Statement closes on the 28th of the month with a balance of $5,000.

On the first, the balance reports.

On the second, a new charge is made for $100, and shows up as pending.

On the third the $5,000 is paid.

Three questions:

1. When does Chase report the $0 balance:
   1. When the payment is made?
   2. When the payment completes processing?
   3. Some other date?
2. If after the payment has been submitted but before the $0 balance is reported, the pending charge  completes, will that prevent the $0 balance from reporting? In otherwords, is the $0 balance based on the balance when the payment was made or when the payement clears?
3. Do any of these things change if the payment is made on Friday (or some other bank holiday)?

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I believe they report the zero balance when your "current balance" reaches zero. So it would not be affected by pending charges.

[NoMoreE46]

Yes Chase will report $0 balance off cycle.

My $0 balance was reported the  next day on EQFX and took about a week to reflect on TU and EXP. 

[Junejer]

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@ThomasJNewton wrote:

Assume the following:

Statement closes on the 28th of the month with a balance of $5,000.

On the first, the balance reports.

On the second, a new charge is made for $100, and shows up as pending.

On the third the $5,000 is paid.

Three questions:

1. When does Chase report the $0 balance:
   1. When the payment is made?
   2. When the payment completes processing?
   3. Some other date?
2. If after the payment has been submitted but before the $0 balance is reported, the pending charge  completes, will that prevent the $0 balance from reporting? In otherwords, is the $0 balance based on the balance when the payment was made or when the payement clears?
3. Do any of these things change if the payment is made on Friday (or some other bank holiday)?

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To answer your question directly, it will report anytime your balance reaches $0 after reporting a positive balance. So, what you bolded above. You also are at the mercy of how quickly the pending charge posts. If it posts before the payment processing is complete, no update will happen and the reported $5,000 will remain. That said, you can always pay the $100 if the above happens.

[ThomasJNewton]

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@Junejer wrote:To answer your question directly, it will report anytime your balance reaches $0 after reporting a positive balance. So, what you bolded above. You also are at the mercy of how quickly the pending charge posts. If it posts before the payment processing is complete, no update will happen and the reported $5,000 will remain. That said, you can always pay the $100 if the above happens.

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Thanks! I guess I need to check on Monday or Tuesday to see how it actually played out. I will probably make another payment to clear the pending charges, but I am not too worried. Just wanted to understand the process.

[nytokyobred79]

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@ThomasJNewton wrote:

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@Junejer wrote:To answer your question directly, it will report anytime your balance reaches $0 after reporting a positive balance. So, what you bolded above. You also are at the mercy of how quickly the pending charge posts. If it posts before the payment processing is complete, no update will happen and the reported $5,000 will remain. That said, you can always pay the $100 if the above happens.

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Thanks! I guess I need to check on Monday or Tuesday to see how it actually played out. I will probably make another payment to clear the pending charges, but I am not too worried. Just wanted to understand the process.

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I see that you also asked about the timing of the payment, ie., on a Friday / weekend, etc.  In my experience with Chase, sometimes if you make a payment after 8pm EST, it may take longer to process than if you had made that payment before 8pm EST. As for Friday and then heading into a weekend, could depend on the exact timing but I've had payments made early Friday that we're able to get processed even heading into the weekend. This is to say that the payment started processing and my account reflected a full zero balance into the weekend. If you're worried that the new pending charge will authorize before your payment processes, I'd just make an additional payment. Or I would have over-payed from the start to cover the pending charge.