No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
This is a dumb question and it might be addressed elsewhere and I just missed it. As I have mentioned in other threads I am really bad at AZEO, I often have some balances report and part of that is I don't quite know when they should report. I used to think the cards all reported on the last day of the month, but that doesn't seem to be the case.
I know Chase is great as they will always update when I pay down to zero, so I don't really worry about that card. Is there a place on my report I can see the exact date of when the balances are reported? I would love to get to get to AZEO at least one month so I can see what my scores would look like.
Are they just going to report whatever balance is on the statement regardless of when that gets paid? One card that is a bit annoying is my Dillard's AMEX, it takes a long time for them to process payments.
Last month I had 7 cards report some balance, I don't want to just not use cards as I have different cards for different things and like to show all my cards some love, maybe it will be impossible for me to get to AZEO with that attitude but it would help to understand when I *should* be making payments to try to get $0 balance reported.
@sxa001 wrote:This is a dumb question and it might be addressed elsewhere and I just missed it. As I have mentioned in other threads I am really bad at AZEO, I often have some balances report and part of that is I don't quite know when they should report. I used to think the cards all reported on the last day of the month, but that doesn't seem to be the case.
I know Chase is great as they will always update when I pay down to zero, so I don't really worry about that card. Is there a place on my report I can see the exact date of when the balances are reported? I would love to get to get to AZEO at least one month so I can see what my scores would look like.
Are they just going to report whatever balance is on the statement regardless of when that gets paid? One card that is a bit annoying is my Dillard's AMEX, it takes a long time for them to process payments.
Last month I had 7 cards report some balance, I don't want to just not use cards as I have different cards for different things and like to show all my cards some love, maybe it will be impossible for me to get to AZEO with that attitude but it would help to understand when I *should* be making payments to try to get $0 balance reported.
Generally they report the balance on the cards when the statement cuts.
I agree with the above poster. The balance on your statement cut date is what will get reported to the bureaus but there are oddball creditors out there that don't follow this rule (US Bank for example). This date is always several days after your payment due date. It may require you to temporarily not use your cards for a few days. You don't want a pending charge posting if you need it to report a zero balance.
Just an example of Amex. They are nice and quick to post a payment to available credit. If I need it to report 0 to the bureaus, I'll need to have paid by my October 18th date.
@sxa001 You will also see a pattern as well so typically 3-5 days from Payment date the Statement cuts so I would make sure things are were you want them by the Statement.
@sxa001 Some that are rotating dates may say though when you go to make a Payment, Statement is on such and such date
I appreciate all the feedback, since I was sucking so bad at AZEO I just started paying everything every other week so at least the reported balances would be small. After we close on a house I will care less about 5-10 points here and there.
@sxa001 wrote:
.....Is there a place on my report I can see the exact date of when the balances are reported?
......
You can look at your reports or even on credit karma and for each account there should be a date it last reported compare that to your statement date for each card and you can confirm if that card reports the statement balance or the balance on a different date.
@sxa001 wrote:I appreciate all the feedback, since I was sucking so bad at AZEO I just started paying everything every other week so at least the reported balances would be small. After we close on a house I will care less about 5-10 points here and there.
As you have already mentioned, if you mess up with Chase and get a balance reported, when you pay it to 0 then they auto report your new 0 balance. The creditors in your signature follow reporting whatever the balance is on your statement closing date. I am not familiar with NASA so maybe someone can chime in to confirm on when they report(likely statement closing date as well).
@sxa001 wrote:Is there a place on my report I can see the exact date of when the balances are reported?
All of the other posters already explained thing in detail, but to circle back and answer this specific question for you too, the answer is yes. Here are screenshots from two popular free monitoring services: Experian, and Credit Karma. (Make sure you understand that CK's scores are not what you should be looking at, but they work for actually monitoring your report.) Now your lenders will report a specific day of the month, and then the bureaus will update within a few days. It varies, but EX is generally the quickest, followed by EQ, then TU taking up the rear. So for instance if my card reported its balance on the 23rd, EX would probably actually display the update on the 24th or 25th, EQ a day later, then TU typically 4-6 days after the card reported. However long it takes each respective bureau to actually SHOW you the info, keep in mind that the card still reported on the 23rd and will be reflected as such on your report. Hope that makes sense.
EDIT: other posters posted as I was typing this. Apologies for redundant info!
Thank you for pointing out the credit karma place to look. I had been looking at the MyFICO report before and it just shows month/year from what I can see. Seeing the report dates allowed me to go and put them on my calendar, this will help me get closer to doing AZEO or even AZE2, just want to make sure my MMS stays above 760.