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first Chase PIF

Established Contributor

first Chase PIF

heya friends, my first chase statement closes on April 12th, if i PIF on the 13th with no pending transactions how long of no usage should i expect nowadays before the infamous Chase $0 off cycle report? recent experiences?

 

thanks

16 REPLIES 16
Moderator

Re: first Chase PIF

24 to 48 hours for them to report. 

All three CRA take different amount of time to update.

I typically see it reflected on EX within 48 hrs. 

Message 2 of 17
Established Contributor

Re: first Chase PIF

Not bad at all, EX 2 days i can assume the worst (TU ofcourse) would take about 4 days to show up.. technically though after EXP is shown to be paid to $0 am i good to start charging again before the last 2 update with the assumption that TU n EQ will just follow EX given that short timeframe in between updates>.>

thx

Message 3 of 17
Moderator

Re: first Chase PIF

You're good to go, because updates are provided to all three major CRAs at the same time. 

Some just take longer to update with new data that's already in their possession.  

Message 4 of 17
Valued Contributor

Re: first Chase PIF

I used to pay the day after the statement cuts like I do with my other cards, but I noticed the 0 reported balance on it by doing so. So I set an auto payment a few days forward to ensure a balance is reported. 

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 5 of 17
Established Contributor

Re: first Chase PIF

True, you wanna be shown actually using it. Thanks for the input guys n CardNut, actually a perfect segway into my last little query in which when the balance reports, following your example and my closing ill PIF on 15th to be safe. 

 

ok so with other cards you have a balance and you pay minimum or full by due in which case after the next closing that payment establishes your payment history (ignoring UTL here)

 

with Chase, if i PIF on 15th am i getting a point boost not only from UTL decrease but from +1 added payment to payment history or even after that $0 reports i have to wait till the next month for that specific point boost(the +1 payment to payment history), how does it work? i know for the AoOA point boost ill have to wait the following, not sure about payment though.

 

Basically im just asking if on CR it will be shown as a +1 payment made right away for that month (in CR update time)  or does it only show the +1 payment after closing like all others

 

sorry if my question is a little confusing.. it crossed my mind n now i must know xD

 

EDIT: Thanks Remedios hue >.>

 

 

thanks for the replies

Message 6 of 17
Moderator

Re: first Chase PIF

You dont get a "boost" for making a payment. That's expected.

You do get *un-boost* if you miss one.

 

I think you're convoluting that slightly with just passage of time we lovingly call AAoA.

Those increase when certain thresholds are passed, and I'm not sure you'll be at one next month. 

 

If you want to know more about those, ask in scoring forum. I keep forgetting what some of them are because I keep pounding mine into the ground. 

 

Message 7 of 17
Established Contributor

Re: first Chase PIF

You're a legend Remedios, here i am confusing Credit Karma's "Payment history" with yup, lovingly AAoA

 

so Boost is only from age and UTL at time of report, got it.. thanks a million

Message 8 of 17
Moderator

Re: first Chase PIF


@elixerin wrote:

You're a legend Remedios, here i am confusing Credit Karma's "Payment history" with yup, lovingly AAoA

 

so Boost is only from age and UTL at time of report, got it.. thanks a million


You're welcome. Age, utilization and credit mix. 

Payment history as a factor is listed, but that's digital, it's either perfect (no award for that, more like no deductions), or not so perfect (scoring penalty). 

You could be making minimum payments for 7 years, be drowning in debt, but if you have no negatives, you have "exceptional" payment history, while utilization is destroying scores. 

Message 9 of 17
Established Contributor

Re: first Chase PIF

WAIT, im confused again lol... ok so following the FICO Score Model instead of credit karma (which is what i should have been doing)

 

35% Payment History

30% Amounts Owed

15% Length of Credit History

10% Credit Mix

10% New Credit

 

basically what im wondering is if the $0 report will give me the "65% boost" vs just the 30% from 'Amounts owed' till that statement closes.. you know what i mean?

 

35% Payment History

30% Amounts Owed

 

i know that as soon as May hits ill get the 15% Length of Credit history point boost like i did today (+6 experian jump, no CR change other than +1 mo)

 

thanks again Smiley Tongue

 

Message 10 of 17
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