using credit cards before closing

[Anonymous]

Hello everyone.  I am new to the boards and I have a question:

I close next Tues 29th and I purchased approx 1k worth of furniture today to be delivered next Wed on credit cards that I have had for approx 6 yrs.  When UW last pulled credit my util was at 1%.  my billing period does not end until the 30th and they report to CRA on the 1st.  My question is if LO pulls credit on Tues before my statement period is over is there any way that they can see the 1k furniture purchase.  Because my friend says that they use a program where they can see everything you charge even if you pay off your balance completely before the period ends and I wont be able to pay it off until the 2nd when i get paid and I dont want to be denied because I will pay it off on the 2nd. 

TIA

[Anonymous]

Yes it could effect your closing!

Don't take this wrong but why is it when people are just days away from closing they think its ok to go and use a cc or apply for new credit!

I'm sorry, but if it was me I would of waited until I had closed. I wouldn't of risked it. Not when you've worked hard all this time to get approved.

When and if I EVER get my approval and closing date I will NOT get any new credit or use old cc accounts. If I can't pay cash then I don't need it.

GOOD LUCK!!

[Anonymous]

Thanks for your input. No hard feelings at all everyone is entitled to their opinion. I will pay it off this weekend. Also how is it that they can tell that I used my cards anyway?

[DallasLoanGuy]

Because my friend says that they use a program where they can see everything you charge even if you pay off your balance completely before the period ends

Your friend is wrong.

They WILL see it if it is reported to the bureaus. When does the cc update the bureaus? Monthly I am sure.... but what day?

[Anonymous]

Thanks Dallas my statement period doesnt end until the 30th and it usually reports to CRA on the 1st or 2nd of the month.  if i close on the 29th they wont be able to tell will they?

[rockymtngrl]

I think the key word is IF.

IF you close on time everything should be fine.

But IF your closing is delayed for any reason it could create problems.

[Anonymous]

An equally big concern to me would be that if my closing is delayed or precluded, I'm stuck with $1,000 worth of new furniture I didn't really need -- at least not yet!

Message Edited by oldhack62 on 09-24-2009 08:18 PM

[Lel]

How much does that $1000 change your utilization?  What were your scores that your LO pulled when you got approved?

[Watchmann]

To be safe I'd pay the bill online this weekend to make sure it doesn't show up.  It is best to lay off any hard core use of a CC leading up to a closing.  You don't want to raise ANY questions.

[RobertEG]

CCCs have privacy agreement with their customers which are regulated by federal law, preclude them from providing such information to third parties.

The LO has no authority to access your personal account information until the CCC posts with the CRA, which at the earliest, wont be until after the next statement date, and then posting with the CRA of the updated account status.  They must get it from your credit report.

If they have some secret way to access your daily account activity, that woul be a clear violation of your account agreement, and more importantly, a violation of federal privacy laws.

Message Edited by RobertEG on 09-25-2009 12:31 AM