@Scrappy43 wrote:My cycle closes on the 27th of every month. My statement balance is 0 with no minimum payment due. My current balance is 203$ with 3500$ credit available. This is a Chase Saphire Card. Will they report my balance to the credit bureaus as 203$ on the 27th, or 0 since the statement balance is 0? Just trying to be strategic on when to use the card and when to pay it down because I'm got in on vacation June 25th. I don't want to run charges up the first 2 days if my trip if they will be reported as utilization. Thanks in advance
If the balance is $203 on the date of the statement that will be reported.
@Scrappy43 wrote:My cycle closes on the 27th of every month. My statement balance is 0 with no minimum payment due. My current balance is 203$ with 3500$ credit available. This is a Chase Saphire Card. Will they report my balance to the credit bureaus as 203$ on the 27th, or 0 since the statement balance is 0? Just trying to be strategic on when to use the card and when to pay it down because I'm got in on vacation June 25th. I don't want to run charges up the first 2 days if my trip if they will be reported as utilization. Thanks in advance
Whatever your balance is on the 27th is what will be reported. But if you pay it down to $0 at any given time, Chase will report that $0 balance right away and it will stay that way until your next cycle closes.
@ThomasJNewton wrote:
@SouthJamaica wrote:If the balance is $203 on the date of the statement that will be reported.
However, with Chase if a balance is reported, and then one pays it to $0, they will report off cycle. What I do know understand, is will Chase report early if nothing was reported before. For example, last month, my balance was reported as $0. I then charge $500, and before the due date, I pay it off. On that day will they report it, or wait until my next statement is cut?
If your reported balance is $0, it will stay that way on your reports until your next cycle closes. So even if you charged $500 after and paid it off, they won't report either of those balances mid-cycle. It will stay $0 until your next statement cuts, and then they'll report whatever the balance is on that date.
@ThomasJNewton wrote:
@KLEXH25 wrote:If your reported balance is $0, it will stay that way on your reports until your next cycle closes. So even if you charged $500 after and paid it off, they won't report either of those balances mid-cycle. It will stay $0 until your next statement cuts, and then they'll report whatever the balance is on that date.
Thanks! My new (as of 29 May 2023) Chase United Quest Card has not yet reported (at all), but currently has a balance over the $5,000 needed to activate the sign up bonus. I want to pay the card off, but I did not want it to report any sooner than is necessary. I hope that means it will not report until the end of the cycle even if I pay it off sooner. :-)
I should add that I was just reading some recent cases where Chase reported a mid-cycle balance. This is not typical and has not happened to me yet, but I figured I'd add that datapoint and disclaimer that it is still possible.
@ThomasJNewton wrote:
@KLEXH25 wrote:If your reported balance is $0, it will stay that way on your reports until your next cycle closes. So even if you charged $500 after and paid it off, they won't report either of those balances mid-cycle. It will stay $0 until your next statement cuts, and then they'll report whatever the balance is on that date.
Thanks! My new (as of 29 May 2023) Chase United Quest Card has not yet reported (at all), but currently has a balance over the $5,000 needed to activate the sign up bonus. I want to pay the card off, but I did not want it to report any sooner than is necessary. I hope that means it will not report until the end of the cycle even if I pay it off sooner. :-)
You should pay it off as soon as possible. Chase might report it mid cycle. That's a new thing, and probably a glitch, but it has been happening. It happened to me.