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When do my credit cards report to the CRBs?

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When do my credit cards report to the CRBs?

I know that there's a way to figure this out (or at least I think there is), but I cannot recall how. How to I figure out when each of my credit cards report the current balance to the CRBs? Is it related to due date? Or closing date? Something else? I will be receiving money over the next 3 weeks on different days and I want to pay off my credit cards in order of when they report. The goal is to have the lowest balances reported as possible, because I am trying to bring up my score up a little for mortgage refinancing. So if one reports next week, I want to pay that one off first and so on, so forth.

 

Thanks in advance!

Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 1 of 9
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Established Contributor

Re: When do my credit cards report to the CRBs?

It generally depends on the issuer. Some issuers have specific reporting processes. Most however report on or a few days before the statement date. US Bank/Elan reports at the beginning of the month or the end of it. Some issuers will immediately report a $0 balance even if in the middle of the cycle. Others you can ask for a mid-cycle report.

 

For mortgage refinancing they will look at all of your reports and generally will pull multiple times. Trying to AZEO will not help you. Just keep using your cards like normal. In some cases you might want to look at your reports to see if there is anything you can do to improve other than just paying off debt.

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Established Contributor

Re: When do my credit cards report to the CRBs?

I am not trying to AZEO. I am just trying to pay down current balances ASAP to get the biggest bump in the next 30 days (I cannot pay completely off, but will be close).

Regarding our credit scores, they are already good, but are just under 740, so we’re trying to bring them up a bit to cross that threshold. The only opportunity with our scores is to lower CC utilization, because we have been foolishly carrying a balance on a few cards. Other than that, our credit reports are all really positive.

The cards in question are Cap1 and Chase.
Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 3 of 9
Established Contributor

Re: When do my credit cards report to the CRBs?

Capital One and Chase are old school report on or around statement date. Chase also has a habbit of reporting mid-cycle if you go to $0.

 

With Capital One you can try for a CLi since they are SP usually. Remember you can improve indirectly as well.

TU:795 10/08/18 Synchrony--EX: 758 10/26/18 Discover--EQ:810 09/25/18 Citi--Gardening since 10/15/18
Active:
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Established Contributor

Re: When do my credit cards report to the CRBs?

Thanks again for the info!

What do you mean when you say “Remember you can improve indirectly as well”? Do you just mean the CLI or something else? For the CLI, can I directly ask Cap1? And do they do a hard inquiry or only soft? Thanks!
Mid-2010 Starting Scores: FAKO EQ 476 FAKO EX 506 FICO TU98 575
July 2017 Current Scores: Approx 710 (waiting for official updates)
Message 5 of 9
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Senior Contributor

Re: When do my credit cards report to the CRBs?

Most banks report on or soon after the statement date (not before). You can check your credit report to see when they last reported.

 

Don't ask for any CLIs from Chase. Requests are always hard pulls, maybe two. CLIs from Capital One are soft pulls. But if your utilization is low, there's no urgent need for CLIs.

 

@zerofire, how does AZEO not help when refinancing a mortgage, particularly if one's in a position to possibly bump to a lower rate? I agree that it's possible that not everyone might need every point that AZEO provides. But if you want to pick up some points and don't know exactly how your score is going to react, AZEO is the safe route.

Message 6 of 9
Super Contributor

Re: When do my credit cards report to the CRBs?


@MBOhio2 wrote:
I am not trying to AZEO. I am just trying to pay down current balances ASAP to get the biggest bump in the next 30 days (I cannot pay completely off, but will be close).

Regarding our credit scores, they are already good, but are just under 740, so we’re trying to bring them up a bit to cross that threshold. The only opportunity with our scores is to lower CC utilization, because we have been foolishly carrying a balance on a few cards. Other than that, our credit reports are all really positive.

The cards in question are Cap1 and Chase.

Cap One reports the statement balance.

 

Chase reports the statement balance, but also issues mid-cycle updates when an account is paid down to zero.


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Message 7 of 9
Established Contributor

Re: When do my credit cards report to the CRBs?


@MBOhio2 wrote:
Thanks again for the info!

What do you mean when you say “Remember you can improve indirectly as well”? Do you just mean the CLI or something else? For the CLI, can I directly ask Cap1? And do they do a hard inquiry or only soft? Thanks!

For Capital One just log into your account and click on Credit Line Increase. Fill out the forms and the computer will figure out what the offer is. If there is no button then you do not qualify. If you want to you can call but generally your account is faster and will give the same results. Capital One is SP and that is why I suggested a CLi for them. There is no penalty with them and it is fast. Chase is a HP.

 

You can improve your FiCO score directly or indirectly. Directly is basically paying on time and paying off existing debts. Indirectly is when you start manipulating account properties to give you an advantage. Think getting CLi's, goodwill letters, early exclusion at the beureu's, even researching and manipulating lenders based on what they usually HP to get best results. Indirectly is stuff you have some control of but requires other peoples help so most people do not do it.

 

 

@zerofire, how does AZEO not help when refinancing a mortgage, particularly if one's in a position to possibly bump to a lower rate? I agree that it's possible that not everyone might need every point that AZEO provides. But if you want to pick up some points and don't know exactly how your score is going to react, AZEO is the safe route.


Most people are not on the edge. The AZEO method is complicated for the benefits and requires resources that can be better placed elsewhere. If those few points were the difference between rate A and rate A-.01 you have a bigger problem.

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Active:
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Message 8 of 9
Regular Contributor

Re: When do my credit cards report to the CRBs?

The easiest way I've found to see when my cards report is to go to Credit Karma, navigate to "Credit Card Use" and it shows a list of your accounts and the date they last reported. They should report on that day each month (or around that day if they bump it up a day due to weekends/holidays; not all FI do this).


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