MYFICO reporting incorrectly

[Anonymous]

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@kshurika

Discover will most definitely do a mid-cycle update and anytime you bring your balance to zero, it will immediately be reported to the CRAs without you requesting it.

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I think you may be confusing Discover with Chase here.  Yes, Discover will do an off-cycle reporting if you request it, but they will not do an automatic off-cycle reporting if you bring your balance to $0.  That's Chase that does that, not Discover.  Perhaps there are examples of Discover doing this as well that I'm not aware of, but many times I've brought a non-zero balance down to $0 mid-cycle with Discover and not once have they ever re-reported the $0 balance.  I did request an off-cycle reporting with them once, though and they had no problem at all doing it upon request.

[kshurika]

Nope, I already knew about Chase doing it, but was told by a Discover CSR that they would do it once I brought my balance down to zero. I mentioned that I was surprised by this. This was only last Friday.

[cjane1]

I just called Discover and the person I talked to said she would update the reporting today. It will take 24-48 hours to go through and hopefully my scores will go back up by next week.

[Anonymous]

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@kshurikaNope, I already knew about Chase doing it, but was told by a Discover CSR that they would do it once I brought my balance down to zero. I mentioned that I was surprised by this. This was only last Friday.

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You have to take what CSRs say with a grain of salt.  Either they are misinformed, or they're simply saying that they'll do it for you once your balance comes down to zero.  I can assure you this isn't a standard practice for Discover the way it is for Chase, as I've been doing this for years and have never seen a $0 balance reported mid-cycle.  In fact, I just paid my balance down to $0 roughly a week ago, so it would have resulted in an updated reporting by now if this were the case.

I didn't invest a lot of time in it, but if you search this topic on the forum you'll see plenty of people saying that Discover will report $0 mid-cycle upon request only, where if you search the same topic on Chase you'll find dozens of threads verifying that they'll report $0 mid-cycle automatically.

[kshurika]

Well, as it turns out I had cause to call Discover early this morning on another matter and I asked the CSR if indeed they would report my zero balance mid-cycle as I've been told would be done automatically anytime I bring my balance down to zero. The CSR I spoke with said, "You can request it if you find it necessary and we can do it once WE have your balance at zero". That's a little different from what I was told before. Also, I just left my Chase branch where I know the manager (I'm sitting in my car) and she told me that, to her knowledge, they're the only bank that will report your zero balance mid-cycle automatically.

This is now the fourth or fifth time I've been given incorrect info by a CSR. Cap1 has been the biggest offender. Right before the next Super Bowl I'm going to poll the CSRs from every card company on their pick and bet the Farm on the other team.

[Anonymous]

I hear you, I don't trust anything a CSR says. I've called CS many times and been given 3 different answers, often 2 of them opposing. This has happened with multiple lenders. I rarely deal with front line CS now; I usually get in touch with the EO if my question/concern is at all meaningful.