Why does Chase report $0 mid-cycle?

[Anonymous]

---

@Anonymous wrote:

How much is your all-zero penalty in actuality? FICO simulator reflects AZ vs. AZEO being a 5 point hit to FICO 8. 

---

I personally have not looked at in quite some time, as I have not gone to AZ in a while (well over a year).  Most tend to report score drops in the 15-20 point range though on average with Fico 8, from what I've seen.

The last time I charted the change on my file was in Sept 2018.  Below you'll find an image with my results.  As you can see at AZ verses AZEO I saw drops of 22 points on EX, 16 points on TU and 16 points on EQ.  It's worth noting that with my TU score capped at 850 and some potential top end buffer that the drop realized on TU could have in fact been greater than 16 points.

[Anonymous]

Glad you posted this! The last two statement months Chase has posted off cycle from the statement cutoff date? What gives? In fourteen years they did not do that and now? Good to know others have seen it. Considered seeing a head shrinker

[Anonymous]

---

@Anonymous wrote:

Glad you posted this! The last two statement months Chase has posted off cycle from the statement cutoff date? What gives? In fourteen years they did not do that and now? Good to know others have seen it. Considered seeing a head shrinker

---

When you say they posted off cycle, are you referring to a $0 balance reported, or some other [non-zero] balance was reported mid-cycle?

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

Glad you posted this! The last two statement months Chase has posted off cycle from the statement cutoff date? What gives? In fourteen years they did not do that and now? Good to know others have seen it. Considered seeing a head shrinker

---

When you say they posted off cycle, are you referring to a $0 balance reported, or some other [non-zero] balance was reported mid-cycle?

---

Chase reported a $0 balance. Note, I always keep their balances at zero. Nothing new in my behavior.

[imaximous]

---

@Anonymous wrote:

Glad you posted this! The last two statement months Chase has posted off cycle from the statement cutoff date? What gives? In fourteen years they did not do that and now? Good to know others have seen it. Considered seeing a head shrinker

---

I haven't exactly kept track when they started doing this but it's been like that for years. This isn't anything new. 

[Anonymous]

---

@Anonymous wrote:

---

---

Chase reported a $0 balance. Note, I always keep their balances at zero. Nothing new in my behavior.

---

Gotcha, yes that's standard protocol for Chase.  The reason why it's standard practice is what I was looking for when I started this thread, since it's not all that common for lenders to do this. 

[Anonymous]

My guess is to obviate the need to deal with people calling in asking for off cycle updates.

[Anonymous]

How many people do you think actually call in requesting off-cycle updates annually expressed as a percentage?  My guess would be well a very small fraction of 1%, so I wouldn't see them implementing that policy for only that reason.

[Anonymous]

If they were smart, they would look at it in two ways. First, no need to expend HR to handle such requests and second, it will be billed as a service or benefit to the consumer because they automatically update promptly, reducing your utilization.

I mean, I have no idea the real reason for the policy, but I’m just expressing possibilities/thoughts. I may be way off the target.

Like you said, who knows really unless we have someone that used to work there and then we have to be lucky enough that they would’ve been privy to that. Just my guess, my two cents. Just a guess no evidence or factual basis.

[Anonymous]

I also believe that outside of people on this forum that watch their credit reports like a hawk that there are very few people that even realize that Chase will re-report if you pay down to $0.  It's definitely not something I've ever seen Chase mention as an account benefit. 

Maybe it's got something to do with the accounting end of things, as far as them updating (quicker) their accounts receivable, assets vs liabilites.  Agreed that it's just all a guess.