"Actual Payment Amount"... Explanation...

[Andy77]

I pulled my EQ report recently, through EQ, and there is a column that says "Actual Payment Amount"

Does anyone know what amount they are referring to ?

 Is this is the last payment you made on the reported account?  OR is this the total of all the payments made on your account since the last time it reported

(within 30 days)

For instance on my credit card in one month I paid them 

5000.00 on 4/1

2876.00 on 4/9

567.36 on 4/10

Since the statement cuts on 4/12, I am sort of thinking the 567.36 will show up on my EQ as the "Actual Payment Amount"

Thank you for any feedback

[adavis425]

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@Andy77 wrote:

I pulled my EQ report recently, through EQ, and there is a column that says "Actual Payment Amount"

Does anyone know what amount they are referring to ?

 Is this is the last payment you made on the reported account?  OR is this the total of all the payments made on your account since the last time it reported

(within 30 days)

For instance on my credit card in one month I paid them 

5000.00 on 4/1

2876.00 on 4/9

567.36 on 4/10

Since the statement cuts on 4/12, I am sort of thinking the 567.36 will show up on my EQ as the "Actual Payment Amount"

Thank you for any feedback

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Yes, it is the amount last paid on the account. You should also see there the amount you were required to pay. These together let other creditors see how you are paying your account.

[cashnocredit]

I have seen creditors report both only the last payment made, or the sum of all payments made in a billing cycle. And a few creditors don't report it at all.

[CenturyChild]

It is wierd how some use all payments for a billing cycle to report, and some just the exact amount of the last payment.

I do know Chase adds all payments together for the billing cycle and reports as a single payment made as does GE Capital.

Which leads me to a question as well on this subject.

My Freedom has only a $500 limit,

My recent report shows a 0 balance,  $500 limit, last payment of $750ish.

Surely its obvious though that these were multiple and not Over the limit? Or would it bring into question on manual review that it was  overl the limit?

[Andy77]

Does anyone know how Citicards reports .  Do they add all payments together made in cycle and list as one lump sum or do they just report last payment made?

[Revelate]

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@CenturyChild wrote:

It is wierd how some use all payments for a billing cycle to report, and some just the exact amount of the last payment.

I do know Chase adds all payments together for the billing cycle and reports as a single payment made as does GE Capital.

Which leads me to a question as well on this subject.

My Freedom has only a $500 limit,

My recent report shows a 0 balance,  $500 limit, last payment of $750ish.

Surely its obvious though that these were multiple and not Over the limit? Or would it bring into question on manual review that it was  overl the limit?

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Developers are different, and perhaps the requirements were different too.  I don't know what Experian / Equifax / etc provide for their standard interfaces / libraries.  Pretty certain the lender I most recently worked for wrote their own interface to Experian's standard

Anyway I would agree: if the high balance != 750 in your case, on a recent payment data entry, it would be assumed it's multiple payments in a month.  

Doesn't likely matter too much anyway, probably is a good thing on a manual review if it gets that far: lenders want you to use their cards, a lot.

ETA: BOFA is a lump sum payment aggregator too for what they report.

[cashnocredit]

Last time I checked, summer of last year, Citi didn't report payments made.