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I just got the US Bank Harley Secured Card. When does it start reporting to the CRAs ? I know some banks report right away and some take time. Also I am not sure on what particular days US Bank might report to CRAs.
It will report at midnight of the Statement Closing date for your first statement. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."
You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the balance and utilization reported to the credit bureaus, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.
@Anonymous wrote:It will report when your first statement closes. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."
You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the reported balance, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.
Thanks. When I checked it is showing next statement date as 2/11. That is a secured card with only $1000 CL. I guess they will not let us add more funds to deposit for 6 more months for the credit limit increase. That $1000 CL is going to stay there for next 6 months. I am going use very small charges and pay it off until I am able to add more deposit and increase my credit limit.
@Red1Blue wrote:
@Anonymous wrote:It will report when your first statement closes. Go to your online account, click on "Account Information" in the left column, and the pop-up box will show you "Next Statement Closing Date."
You also need to be aware that U.S. Bank (and Elan Financial Services) reports to the bureaus twice monthly. They report the statement balance on the Statement Closing date and the Account Balance on the last business day of each month. So if you're trying to manage the reported balance, you need to make a payment on or before the last business day of each month and not the Payment Due date shown in your account.
Thanks. When I checked it is showing next statement date as 2/11. That is a secured card with only $1000 CL. I guess they will not let us add more funds to deposit for 6 more months for the credit limit increase. That $1000 CL is going to stay there for next 6 months. I am going use very small charges and pay it off until I am able to add more deposit and increase my credit limit.
Then you account will report at midnight on 2/11/20.
You need to call customer service and ask if they would allow you to add funds to your deposit.
@Anonymous wrote:You need to call customer service and ask if they would allow you to add funds to your deposit.
I called Customer service. They said I need to wait for 6 months to add to deposit and request CLI. After that only ever 3 months we can request to add to deposit and increase CLI. They said if I want a card with higher limit I can apply for another secured card and provide the deposit with sufficient amount. That is strange. I guess that is how they work. That is okay. I am going to sock drawer that card. There is no AF.
Unless there's a difference with USBank secured cards, they've always and only reported on the last day of the month. I have made a payment on the due date and after the due date (now the 28th, used to be the 22nd when I tested) and the balance as of the last day is what was always reported to the CB's. Actually it's sometimes the 30th even in a 31 day month but I've seen the 31st often. Didn't test it that close to the end of month.