What gets reported?????

Anonymous · ‎09-24-2016

Hello everyone I'm a little confused. What gets reported to the credit bureaus, the balance that is on the credit card on the date the statement gets cut or the balance that there is on the card at the time they report? Thanks for the help.

Anonymous · ‎09-24-2016

Most CCCs report on the date the statement is cut, so the answer to your question is they are both right lol.

Anonymous · ‎09-24-2016

@Anonymous wrote:
Most CCCs report on the date the statement is cut, so the answer to your question is they are both right lol.

Ok so I got a Cap1 card last month and the first statement was on the 21st and it had a $16 balance. I called and asked when they report abd they said that 2-3 days after the statement day cut, so will they report the $16 balance or the balance on the card right now? (today is the 3rd day so it should've reported already but I'll probably get the update until monday.)

Anonymous · ‎09-24-2016

It will most likely report the $16 balance. Why are you so worried over this? It's $16 lol

Anonymous · ‎09-24-2016

@Anonymous wrote:
It will most likely report the $16 balance. Why are you so worried over this? It's $16 lol

I know lol it's just that I'm only 19 so I'm still establishing my credit. The card has a $300 limit and right now i have a $80 balance on it so I want it to report the $16. I only have this and one other CC with a $900 limit combined.

Anonymous · ‎09-25-2016

None of this **bleep** matters. Credit is fluid. Unless you are applying for new credit in the next month, it does not matter what your score is. Sure, 80/300 is a lot more than 16/800, but overall, it just doesn't matter. Even if you slipped up a little (and 23% isn't even bad) this month before the statement cut, it'll heal the next time you do. Patience, young Padawan. Credit is a game of decades, which you'll come to appreciate.

Anonymous · ‎09-27-2016

The post above is true, I however can respect that the OP doesn't want to see their score dinged.

I have zero intentions of applying for credit within the next year, but I still let one of my cards report a balance every month to maximize my scores. On my profile, reporting 0 balances across the board results in a 16-22 point drop across the bureaus. These points matter absolutely nothing since I won't be applying for credit, but it's still mentally pleasing to me to see my scores 16-22 points higher, especially since I've worked hard over the last 2 years to rebuild them.

Anonymous · ‎09-27-2016

@Anonymous wrote:
The post above is true, I however can respect that the OP doesn't want to see their score dinged.

I have zero intentions of applying for credit within the next year, but I still let one of my cards report a balance every month to maximize my scores. On my profile, reporting 0 balances across the board results in a 16-22 point drop across the bureaus. These points matter absolutely nothing since I won't be applying for credit, but it's still mentally pleasing to me to see my scores 16-22 points higher, especially since I've worked hard over the last 2 years to rebuild them.

Yeah, I know what you mean I'm the same way that's why I was worrying about it.

Anonymous · ‎09-27-2016

So I finally got the alert yesterday from myFICO and Cap1 already reported. They did report the balance that is on the statement ($16). Now my scores jumped about 27 on EQ and EX and 41 on TU . MY new scores are EQ: 705 TU:694 EX:694 . I'm really close to reaching my goal!!! 700 across all three bureaus. 1 reached, 2 more to go!

Anonymous · ‎09-27-2016

Sweet, nice work! Looks like your ding from reporting all zero balances is 1.5x - 2x as strong as mine, so letting a balance report for you yields a greater score gain. Do you have a thick or thin file? Perhaps thin to moderate? My file is pretty thick, so I find that things impact my profile a bit less than it does to thinner files, generally speaking.