Talk to me about Statement and Reporting dates....

[Anonymous]

I've read through the helpful topics and some threads i searched but im still a bit unclear on how statement dates and reporting dates work.  for example....

Lets say I have a credit card with a balance of $1000.  The credit card statement date is the 20th.  On the 22nd I use $200 credit bringing my balance to $1200.  My credit card company reports to the Bureaus on the 30th.

Will my credit report show a balance of the $1000 as of my last statement, or the $1200 as of the date of reporting?

Thanks

[Anonymous]

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@Anonymous wrote:

I've read through the helpful topics and some threads i searched but im still a bit unclear on how statement dates and reporting dates work.  for example....

Lets say I have a credit card with a balance of $1000.  The credit card statement date is the 20th.  On the 22nd I use $200 credit bringing my balance to $1200.  My credit card company reports to the Bureaus on the 30th.

Will my credit report show a balance of the $1000 as of my last statement, or the $1200 as of the date of reporting?

Thanks

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@Anonymous The scenario you described only applies to lenders like U.S. Bank and Elan Financial Services which report the account balance to the credit bureaus on the last business day of each month.  For such lenders, $1,200 will be reported.

However, the overwhelming number of lenders report to the credit bureaus on Statement Close date.  With most lenders the statement balance on Statement Close date will be reported; which means that $1,000 is reported at midnight of the 20th.

[pinkandgrey]

MOST (but not all) CC companies report the STATEMENT balance when they report. The date that they report aforementioned statement balance varies by lender. So in your scenario, the $1000 balance would be what they reported on the 30th. 

For lenders such as US Bank, they report the CURRENT balance on the last business day of the month or something like that. As to WHEN they report that balance, again that will vary. 

I know it's a little convoluted lol 

[Trudy]

Keep in mind there's a 'report balance as of' date which will answer your question.  On any credit report you will find this and it should help you determine any days, if any after the statement close date that may be included in the 'report balance as of' date.  Some creditors may vary a day or so.  Now when it hit's each credit bureau is another story and may vary.  It could be 1 to several days after the report as of date and could be different with each CB.  This takes some monitoring to figure out.  But to answer your question it would be the report balance of date balance that will report whenever it shows up on each CB.  Take a look at any past report, even CK will provide this.

Edit: My Capital One due date is the 20th.  Statement close date is the 23rd.  But the 'report balance as of' date is the 23rd.  If I spend between the 20th and 23rd (maybe 22nd, haven't tested the 23rd) it will include those charges and/or payment.  As stated above, USBank works differently.  No matter what your statement close date is the balance that is reported is 'as of' the last business day of the month.

[KLEXH25]

This sounds just like DCU. My credit card statement date is usually the 10th, but they don't report until the end of the month. The amount that they report is always whatever my balance is at the end of the month, not my statement amount. I'm guessing it's dependent on the lender.

[Anonymous]

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@Trudy wrote:

Keep in mind there's a 'report balance as of' date which will answer your question.  On any credit report you will find this and it should help you determine any days, if any after the statement close date that may be included in the 'report balance as of' date.  Some creditors may vary a day or so.  Now when it hit's each credit bureau is another story and may vary.  It could be 1 to several days after the report as of date and could be different with each CB.  This takes some monitoring to figure out.  But to answer your question it would be the report balance of date balance that will report whenever it shows up on each CB.  Take a look at any past report, even CK will provide this.

Edit: My Capital One due date is the 20th.  Statement close date is the 23rd.  But the 'report balance as of' date is the 23rd.  If I spend between the 20th and 23rd (maybe 22nd, haven't tested the 23rd) it will include those charges and/or payment.  As stated above, USBank works differently.  No matter what your statement close date is the balance that is reported is 'as of' the last business day of the month.

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I checked all of the credit reports i pulled from myfico.  i pulled the 3 bureau report.   i dont see a "report balance as of" date or anything similar anywhere.  same with credit karma.  can you point out where i might find that?

[Trudy]

Sorry.  Wrong verbiage.  But you're right, I reviewed MyFICO reports I see it only shows Last Update - month/year:

If you have an EX subscription or any past reports saved it shows as Balance Updated - month/day/year:

I am pretty confident Credit Karma still shows this.  Sorry, last time I saved that data was month's back. I think the look may have changed a bit.  When viewing your credit report or Accounts it will provide the day of the month.

[Anonymous]

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@Trudy wrote:

Sorry.  Wrong verbiage.  But you're right, I reviewed MyFICO reports I see it only shows Last Update - month/year:

If you have an EX subscription or any past reports saved it shows as Balance Updated - month/day/year:

I am pretty confident Credit Karma still shows this.  Sorry, last time I saved that data was month's back. I think the look may have changed a bit.  When viewing your credit report or Accounts it will provide the day of the month.

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I do see it on credit karma, thanks!

i guess ill now just need to watch my credit score updates to see when the  bureaus actully get that