GS Apple Card Question about reporting

[Loquat]

For most this is a non-issue. Synchrony also does weird off-cycle reporting whenever they feel like it. Lenders don't care about our utilization percentage (and the average consumer probably doesn't care either), they just want you to swipe, pay, rinse and repeat.

This is probably even less of an issue even within this community as most folks try not to carry balances on reward cards as that negates the rewards itself. Also, if one is carrying a balance on the Apple Card then it's probably under special financing terms and again, not all that important still.

Thanks for sharing your experience. Hopefully it'll answer the question for someone now or in the future if they have a similar concern.

[HeavenOhio]

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… GS will still report any balance regardless of the due date on the 19th of each month according to company policy.

I hadn't heard that about Apple Card. It's less usual than reporting the statement balance on or soon after the statement date, but it's not unheard of. US Bank, for instance, reports one's balance as of the last business day of the month.

[HiiiPoWeR]

Still seems strange to me... All my other credit cards report to CR 1-2 days after the statement due date -- not before it.

I guess I'm going to have to PIF by the 19th of each month (to avoid a balance being reported) instead of  PIF by the statement due date of the 31st of each month.

Thanks for letting me know. 

[Matt9543]

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@HiiiPoWeR wrote:

I contacted Goldman Sachs today about my Apple Card’s trade line not being reported to the credit bureaus after two months of use — it’s reporting now... the update was almost instant.

I also noticed a problem with GS reporting policy. My Apple Card shows a due date of December 31st but will change to November 30th on some days then change back to December 31st.

I spoke with a rep from GS about this issue and she confirmed that my statement due dates are due on the 31st of the following month, so let’s say I charged $25 on December 1st, the statement due date would be January 31st.

That sounds little strange to me but I’m cool with that because I could potentially carry balance longer without occurring interest and still pay in full at the end of the cycle — but here’s the catch, GS will still report any balance regardless of the due date on the 19th of each month according to company policy.

This could be damaging to somebody’s credit utilization rate — a balance being reported before the due date.

I spoke with two reps about this, one via chat and another via phone, and both of them confirmed this as being accurate.

Is this happening to anyone else?

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Granted, I just received the card, but I opened the account on October 15th, reported on October 31st with the balance I had on the 31st. I got notified Tuesday and yesterday that they reported to TransUnion and Equifax, respectively. Both bureaus show the balance is as of October 31st. I would keep an eye on it. They may have meant that the previous statement will be reported to the bureaus by the 19th, but I've heard a very few number of people having their card report in the middle of the month with that balance. Usually everything I've seen has been statement balance, but I will keep an eye out this month to see if they report my balance off-cycle.

[Anonymous]

Thanks for posting this. I applied and got the Apple card (shows as GS Bank on report) a few billing cylces ago and haven't had any issues.  They actually reported quite fast.  Im going to pay close attention now that you've said this.  Off topic, but I hear the CLI is pretty good on this card. Thanks again

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@HiiiPoWeR wrote:

I contacted Goldman Sachs today about my Apple Card’s trade line not being reported to the credit bureaus after two months of use — it’s reporting now... the update was almost instant.

I also noticed a problem with GS reporting policy. My Apple Card shows a due date of December 31st but will change to November 30th on some days then change back to December 31st.

I spoke with a rep from GS about this issue and she confirmed that my statement due dates are due on the 31st of the following month, so let’s say I charged $25 on December 1st, the statement due date would be January 31st.

That sounds little strange to me but I’m cool with that because I could potentially carry balance longer without occurring interest and still pay in full at the end of the cycle — but here’s the catch, GS will still report any balance regardless of the due date on the 19th of each month according to company policy.

This could be damaging to somebody’s credit utilization rate — a balance being reported before the due date.

I spoke with two reps about this, one via chat and another via phone, and both of them confirmed this as being accurate.

Is this happening to anyone else?

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[oorhett]

My DW Apple card that we recently paid off still hasn't updated to the Credit Bureaus. The last report date was Nov 30th and had a pretty high balance, we paid it off in anticipation of a mortgage but it still hasn't updated as of today. Anyone else experience this or is this typical for a new year? Her Chase Freedom Card reported on Dec 10th and then again on the 31st, Usually reports around the 10th but I put that down to the end of the year. 

[Anonymous]

Expect it to update around 3rd week of the month -- so about a week from now, reporting the balance from Dec. 31

They don't do mid-cycle updates either

[REDBOYYY56]

Apple should be reporting any day now if it hasn't already . Apple has been consistently 2-3 weeks behind.

[Repairman]

Around what day of the month does Apple Card usually report? I got a cl increase on January 16th and am wondering when I can expect that to be reported. Any guesses?

[REDBOYYY56]

I usually see mine on the 15th.