cancel
Showing results for 
Search instead for 
Did you mean: 

Do Amazon and Walmart Report Monthly if balance $0?

Highlighted
Regular Contributor

Do Amazon and Walmart Report Monthly if balance $0?

Hey everyone,

 

Just wanted to know if walmart and amazon (synchrony) report monthly even with no use on the card? i didn't use them at all last month, so I didn't get the statement cut that I usually do and they haven't reported yet. Just wondering if this is normal and if I can expect them to report monday or tuesday? (they usually report on the 7th or 8th).

 

Thanks

Message 1 of 10
9 REPLIES 9
Highlighted
Moderator

Re: Do Amazon and Walmart Report Monthly if balance $0?

In my experience, they've reported even if I had a zero balance. 

Message 2 of 10
Highlighted
Frequent Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?

Many banks will not report the account status to the bureaus if the statement balance is $0 for two or three months consecutively because it costs the creditor money to publish an update to credit reports. Other creditors, for the most part, know and proceed with the understanding that if the last two or three reports showed a $0 balance for an account, and there is no new data, that there has not been a status or balance change.
My Exclusive Personal Driver:
American Express Platinum Card for Schwab
The Ritz-Carlton Visa Infinite (when merchants don’t accept AXP because they foolishly claim the fee is too high)

My Exclusive Business Driver:
The Business Platinum Card from American Express
Message 3 of 10
Highlighted
Valued Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?

+1 in this discussion I see both sides for someone with a long thick credit file it's not a big deal whereas people with just a year or less behind them they want every month regardless to update. Looking back a few mysynchrony account did skip a couple of times. The month that you paid it off will report which is key for example comenity will not.. that kind of sucks because you like to see that mile marker of pif.
Open one, close three. Open one, close three.
Message 4 of 10
Highlighted
Regular Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?

Ok thanks for the info guys. Reason I was asking is because I got CLI on both accounts $500->$3500 (wlmt) and $1200->$3500(amz) and I wanted them to report the increase before I have a small app spree. I'll keep looking til Tuesday, then if need be I'll buy something small and move back my app spree to next month :/

Message 5 of 10
Highlighted
Valued Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?


@Loquat wrote:

In my experience, they've reported even if I had a zero balance. 


My Wallly does not report with 0 balance, however amazon does.

 photo QS visa_zps7zokw2wl.jpg photo QS visa_zps7zokw2wl.jpg photo Venture One_zpsigvttrlz.jpg photo Sony Visa_zpsxoradr1b.jpg photo USC Reward_zpslcvjfxmq.jpg photo Penfed Promise_zpsdg1y2dw2.png photo NasaFcu_zpswac3zwcu.jpg photo America_zpsuwx8rzdm.jpg photo LA-Kings-card_zpslbkyeqsz.png photo Barclay_zpslqv3i4tl.jpg photo BBVA_zpsqrhh7omh.jpg
 photo nfcu debit card_zpsprkh98jw.png photo nfcu visa siggy_zps0gjgyxje.png/ photo nfcu goReward card_zpsixhh1qcp.jpg photo sdfcu platinum card_zpspilihdiv.png  photo penfed reward cash_zpsyckxjc7y.png photo alliant visa_zpsaf4udfx0.jpg photo Citi Secured_zpsypzxi0jm.png photo fnbo platinum_zpsxfub6esb.png photo marvel-credit-card_zpsfkvc3ux5.png photo golden 1 CU_zpslhgxynjv.pngBurned AECitiChase
Message 6 of 10
Highlighted
Moderator Emeritus

Re: Do Amazon and Walmart Report Monthly if balance $0?


@bk510 wrote:

@Loquat wrote:

In my experience, they've reported even if I had a zero balance. 


My Wallly does not report with 0 balance, however amazon does.


Yeah, Wally known does not: mine didn't in the years that I had it either, common complaint.




        
Message 7 of 10
Highlighted
Moderator Emeritus

Re: Do Amazon and Walmart Report Monthly if balance $0?


@Pooka89 wrote:
Many banks will not report the account status to the bureaus if the statement balance is $0 for two or three months consecutively because it costs the creditor money to publish an update to credit reports. Other creditors, for the most part, know and proceed with the understanding that if the last two or three reports showed a $0 balance for an account, and there is no new data, that there has not been a status or balance change.

Actually it costs near zero to put an update on a credit report for a lender in my experience, other than initial account setup in some cases / some products.  Some small amount of compute and transmission fees, and with the cost of infrastrcture and the size of the transaction it's trivial to virtually any lender including incredibly small ones.

 

Bureaus make money on retreival of information, but entities which give them information simply makes their information better and therefore worth more.

 

Also except for contracts between bureau and lender, there's nothing which mandates reports... and as such if it was a major cost factor the lenders simply wouldn't.  I haven't seen the contracts directly at the lenders I've worked for, but presumably there is a discount on obtaining information if they agree to report which is not mandated by law.

 

Generating a statement OTOH, and providing it to a consumer, that does cost money.  As a result Wally in this case simply doesn't generate a statement, and if a statement isn't generated, the update to the bureau never happens in their application infrastructure.




        
Message 8 of 10
Highlighted
Legendary Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?

The statutory requirement applies only to sending billing statements to the consumer if the account has a balance (FCBA).

The FCBA requires a minimum of quarterly billing statements on revolving accounts with a balance.

There is no equivalent requriment relating to credit reporting.  The only statutory requirment governing reporting is FCRA 623(a)(2), which mandates that if the balance has changed from prior reporting, the creditor is required to promptly update their reporting so as to maintain its current accuracy.  If the balance remains $0 from month to month, no reporting to the CRAs is required.

 

Major creditors will usually close accounts that remain unused for x- number of months.

Once closed, billing requirments can then also cease.

Message 9 of 10
Highlighted
Regular Contributor

Re: Do Amazon and Walmart Report Monthly if balance $0?

Thank you all for your insight

 

Update: Both Amazon and Walmart reported to all 3 credit bureaus. For reference, I've had a $0 balance with both companies for at least the past 2 months and both have still reported the balance monthly. Neither of them sent me a monthly statement this month.

 

 

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.