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Discover not reporting statement balance

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Valued Contributor

Re: Discover not reporting statement balance


@expatCanuck wrote:

Fair question. 

 

Yeah, I enjoy the game.  But the purpose of my original post (as noted) is to let people know of this behavior, so they can act accordingly in case it matters.

 

Personally, I find the situation troubling because an issuer should bloody well be reporting to the bureaus the same friendly thing that they're reporting to cardholders.  In other words, if you tell a consumer that he/she doesn't owe anything for a billing period, that's what should be reported to the bureaus.  And the underlying IT systems should be built accordingly.


US Bank and thier subsidiary Elan Financil report your balance on the last day of the month regardless of statement balance. 


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Message 11 of 16
Regular Contributor

Re: Discover not reporting statement balance

So... Is there a predictable timeline on what/what they report. For example, is it known whether they always report the current balance x days after teh statement cuts? Or, is this limited to situations when charges are made right around the statement cut date?

 

Also, any idea on how this may impact payments? For example, my statement cut on the 5th. I subsequently made a payment the same day. I'm wondering if their next report will show the balance before or after the payment. 


Message 12 of 16
Established Contributor

Re: Discover not reporting statement balance

I did not think I was affected by this but noticed today this is the way it works. My statement cuts on the 5th and reporting normally happen's on the 9th. After reading this I paid attention and sure enough, it did not report the statement balance but the balance as of today. I need to keep this in mind

Started Rebuild 4/2018: EX 616| TU 604| EQ 621

Current 03/08/19:


Goal Score: 750+
Message 13 of 16
Frequent Contributor

Re: Discover not reporting statement balance


@Caardvark wrote:

So... Is there a predictable timeline on what/what they report. For example, is it known whether they always report the current balance x days after teh statement cuts? Or, is this limited to situations when charges are made right around the statement cut date?

 

Also, any idea on how this may impact payments? For example, my statement cut on the 5th. I subsequently made a payment the same day. I'm wondering if their next report will show the balance before or after the payment. 


When looking at my reports, I see that they always report the 4th
My statement is cut the 5th (the 1st is my payment due date).




Garden goal: Gold spade and completely clean reports
Message 14 of 16
Regular Contributor

Re: Discover not reporting statement balance

Interesting...

 

It seems that for both expatCanuck and dynamicvb, Disco is reporting the balance on a date several days after the statement cut date. Yet for you, Disco is reporting the day before your statement cut date.

 

There seems to be no predictable pattern and that each of us (who cares about such things) needs to find out our own reporting dates. 

 

 


Message 15 of 16
Community Leader
Super Contributor

Re: Discover not reporting statement balance

For me the statement day is 17th, and it's usually updated on EX either the 18th or 19th. 

Only statement balances were reported, never pending charges if there were any. 

Message 16 of 16