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Is it routine for creditors to only report zero balances quarterly?

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Super Contributor

Re: Is it routine for creditors to only report zero balances quarterly?


@dktide91 wrote:

I sent a message to BBVA Compass and they said they only report in once every 3 months unless you do something bad like make a late payment, etc.  So if you pay off your balance, you will have to not use that card for up to 3 months in order to get your fico score to reflect that.  That's ridiculous!!


That's definitely not true, but even if it were, you could easily make the counter argument:  One could report a small/zero balance, then run their card up to an extremely high utilization level and let it ride for 80-85 days, then pay it down/off right before the next [3 month] reporting. 

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