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When does amt get reported

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Anonymous
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When does amt get reported

When does the balance of credit card actually get reported to CRA?
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Anonymous
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Re: When does amt get reported


@Anonymous wrote:
When does the balance of credit card actually get reported to CRA?

Generally most creditors report the balance at the same they issue your monthly statement.  A few creditors like US Bank report what the balance is at the end of the month.  Also a few creditors like Chase will update your balance to the credit reporting agencies in between monthly statements.

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Anonymous
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Re: When does amt get reported

Most CC issuers report the "Amount Owed" at the top of your monthly statement.  They do so generally within 24 hours of that statement date. 

 

A much smaller minority of CC issuers (US Bank, for example) reports whatever your CC balance is on some fixed day of the month -- irrespective of what your statement said.  Thus, for US Bank, your statement could print on Aug 23 with a balance of $235, and then you make some more purchases, with a balance of $415 as of Sept 1.  The $415 figure would be reported on Sept 1 if you had a US Bank card.  (Most other CC issuers would report the $235 figure.)

 

Regardless of the date that the CC issuer reports a new balance to the three CRAs, it then takes 1-7 business days for the CRA to update that new balance inside its database.  (That's business days, not calendar days.)  A week of calendar time (or a bit less is common.)

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