US Bank manual report update?

[Anonymous]

Does anyone know if USBank will update the credit report mid cycle? Have a $500 toy limit and paid off the $480 balance before the end of the month but they didn’t show the payment until the 1st and the 99% utilization did ugly things to my score just as my Amex 3x CLI is coming due.

Talked to two agents at US Bank who were next to clueless and didn’t understand what I meant.

I know some banks will update it if you change some info on your account.

Tried searching to no avail.

[Anonymous]

Finally found a thread about it, looks like no go!

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Get-US-Bank-to-update-balance-before-the...

[Five6Two]

Thank you for bringing that to the surface OP, good to know. But now I have a question...

While it may not be the best idea to run up a balance on any CC unless you have to...US Bank will at least not report a toy purchase during the month and if you PIF at least a day before the final day of the month...?

[Anonymous]

I thought I PIF’d in time but with weekends etc I obviously didn’t.  My fault for assuming!

ill start to PIF 5 days before the end of the month.

[Trudy]

I learned before I read that USB doesn't report based on close date but the 1st of the following month.  So debits and credits applied after the due date and/or statement close date will be applied and report the balance as of the 1st, not the last day of the month.  It's my only card that does this.  

[Anonymous]

They report whatever your balance is on the last business day of the month. The past month was the balance on Friday the 29th.

I use my US Bank checking and when I pay something it is an instant transfer. I have been experimenting a little bit. I waited until 10pm EST on the 29th to pay a $35 balance. Naturally, it updated my available credit immediately. The $35 balance was reported.

There have been other months where I PIF on the last business day of the month and depending on the time of day where I paid, it will report $0. I'm trying to pin down a time but I don't know if it is random or a specific time. This is a stupid experiment.

To guarantee a $0 report, I would make sure to PIF 1 day before the last business day of the month. With external financial institutions, I would make sure to pay 2 business days before the last business day of the month to be on the safer side.

[Anonymous]

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@Anonymous wrote:
They report whatever your balance is on the last business day of the month.  The past month was the balance on Friday the 29th.
 
I use my US Bank checking and when I pay something it is an instant transfer.  I have been experimenting a little bit.  I waited until 10pm EST on the 29th to pay a $35 balance.  Naturally, it updated my available credit immediately.  The $35 balance was reported.
 
There have been other months where I PIF on the last business day of the month and depending on the time of day where I paid, it will report $0.  I'm trying to pin down a time but I don't know if it is random or a specific time.  This is a stupid experiment.
 
To guarantee a $0 report, I would make sure to PIF 1 day before the last business day of the month.  With external financial institutions, I would make sure to pay 2 business days before the last business day of the month to be on the safer side. 

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Glad you did the experiment as I had not been able to nail it down myself. You got right to the end and then backed it down ... appreciate knowing (not a "stupid experiment"). I too have backed off a day or two as I could not find a precise time and suspect it is a little flexible on USB's part depending on processing schedules. Thanks!

[CreditInspired]

Just wait another month to do your AmX 3X CLI when your UT is ~2%.

[Anonymous]

Yeah it isn’t life ending, haha.  Just a real annoyance.  I actually use my 5% categories on US Bank to the tune of around $400ish a month for utilities, so I just need to start PIF early.  Just wasn’t expecting that variance between what was posted and reality!

their customer service was pretty terrible, too.

[FinStar]

OP, optionally, you can have the due date changed to something around the ~25th or 26th of the month to align with the USB month-end CRA reporting.

It's pretty much what I did with all my USB and ELAN consumer CCs. I left the due dates unchanged for the biz ones though.