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off-cycle reporting vs typical SB report

Established Contributor

off-cycle reporting vs typical SB report

morning everyone, so a typical statement balance(SB^) report is on the same day every month.. if i have an off-cycle report before or in between then. How do CRA’s see it? as a new statement balance? could i just spam off cycle reports throughout the month with 20-30%—>1-8.9% util throughout the month for a score boost over and over? if not over and over maybe once or twice a month?

thx for replies
8 REPLIES 8
Super Contributor

Re: off-cycle reporting vs typical SB report

Nice try to game the sysytem. If they report off cycle or earlier. It wont do the next update until the next months usual reporting date after statement cuts again. Getting updates twice a month they're not going to pay for.

Message 2 of 9
Established Contributor

Re: off-cycle reporting vs typical SB report

i was just seeing... i recently got a new discover account number and the off cycle report increased my EXP substantially cause balance update reporting -$600 less if i lower more by statement date it will show a higher score next opening.. u sure?
Message 3 of 9
Moderator

Re: off-cycle reporting vs typical SB report


@elixerin wrote:
morning everyone, so a typical statement balance(SB^) report is on the same day every month.. if i have an off-cycle report before or in between then. How do CRA’s see it? as a new statement balance? could i just spam off cycle reports throughout the month with 20-30%—>1-8.9% util throughout the month for a score boost over and over? if not over and over maybe once or twice a month?

thx for replies

Why not let balances just naturally report?  I can see if there was something messed up reporting-wise where an off-cycle adjustment was warranted.  Or, if you were applying for a big ticket item such as a vehicle, mortgage, etc., on the horizon.

 

A variety of lenders are very flexible with accommodating one-off customer requests, abusing the process or doing it over and over seems a bit over the top.

Message 4 of 9
Established Contributor

Re: off-cycle reporting vs typical SB report

agreed, I think the topic went off course a bit here.. i wasn’t trying to imply i would abuse it. im trying to understand how its seen to CRA’s. I assume just like any other natural statement balance report?
Message 5 of 9
Moderator

Re: off-cycle reporting vs typical SB report


@elixerin wrote:
agreed, I think the topic went off course a bit here.. i wasn’t trying to imply i would abuse it. im trying to understand how its seen to CRA’s. I assume just like any other natural statement balance report?

Right.  So for instance, if you request an off-cycle adjustment, the CRAs will 'force' report the updated information sent by the lender during the off-cycle timeframe.  Then, the lender would just resume reporting the natural balance (if any) during your next statement cycle to the CRAs.

Message 6 of 9
Valued Contributor

Re: off-cycle reporting vs typical SB report

You can achieve the same thing by monitoring your statement close date and spending in that window. Before your statment closes, pay down your balance to the desired level (~8%). After the statment closes and the balance reports (usually the same date but not always) you can spend freely until you approach the next statement/report date. 

Message 7 of 9
Mega Contributor

Re: off-cycle reporting vs typical SB report

If you get a Synchrony card, they have a tendency to report multiple times a month... Smiley Frustrated



Message 8 of 9
Super Contributor

Re: off-cycle reporting vs typical SB report

Yes if they report off cycle, its just like a regular reporting. Updated as soon as the CRA gets to it. No waiting til the next month (that's the point of an off-cycle update), but why do this unless you have an important app and need it done now?

The more its done, the less they like doing it. So please, if its not necessary, don't do it. If its just to see your score, wait.

Like said above, pay what you want before it cuts to adjust utilization.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. Highest from under 5%>48%, Accts: 1/21>10/21, $6,137. Dec 2020, (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 9 of 9
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