A FICO score question.

[Anonymous]

My BF has a ~$600 charge on his Freedom card that is in the process of being refunded, but will not complete until a day or two after the next statement date. If he lets the card report with a $600 balance, and then when it is refunded Chase reports again the $0.00 balance, will that have a serious negative on his FICO score or since it would be gone before anyone looked at it, will it not matter?

Just do not want to have the money (if he pays it) sitting on the card for a long time with no reason.

[dragontears]

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@Anonymous wrote:

My BF has a ~$600 charge on his Freedom card that is in the process of being refunded, but will not complete until a day or two after the next statement date. If he lets the card report with a $600 balance, and then when it is refunded Chase reports again the $0.00 balance, will that have a serious negative on his FICO score or since it would be gone before anyone looked at it, will it not matter?

Just do not want to have the money (if he pays it) sitting on the card for a long time with no reason.

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Chase automatically reports whenever the card has a $0 balance so it is not normally a big deal to post a statement balance 

[Girlzilla88]

@Anonymous      How much is his CL?!     If it won't correct until after the Statement then it may have a negative hit until it is fixed but if it's a high CL it may not budge much 

[Credit4Growth]

1. 👋
2. Assuming this Chase Fredom card has no other activity (balance) on the card then any negative impact to your score (if any) would be regained after the charge is refunded and the balance on this account is brought back to $0.00..... because the Chase Greedon is one of the magical cards that always updates to the CRA's when the balance is brought to $0.00 - thank you Chase!

If you normally have a zero balance report o  this card then the above would apply to you.  If that is not the case, then we will certainly need more information about his profile to determine the impact to his scores... .ie:  Credit limit on this individual card, aggragate utilization...and a lot more.

So, best case scenario,  I hope the 2nd paragraph applies to you! 

[Credit4Growth]

it looks like a few of us were posting a response at the same time.

Hope you get the understanding you are looking for OP!

[blindambition]

If there's a minimum payment due, make sure it's paid by due date. Under Chase's T/C, credit won't negate that and will be considered late.

[Anonymous]

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@Credit4Growth wrote:

If you normally have a zero balance report o  this card then the above would apply to you.  If that is not the case, then we will certainly need more information about his profile to determine the impact to his scores... .ie:  Credit limit on this individual card, aggragate utilization...and a lot more.

So, best case scenario,  I hope the 2nd paragraph applies to you! 

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His current situation:

Card	Reported Balance	Limit	Reported Limit
BofA Cash Rewards	$0.00	$3,600 (when it next reports on the 20th)	$500
Chase Freedom	$595.35 (until it refunds on the 11th or so then $0.00)	$2,500	$2,500
Chase Slate	$0.00	$4,900	$4,900
CapOne QuickSilver	$0.00	$5,500	$5,500
Synchrony Sweetwater	$965 ($936 when it next reports on the 17th) 0% payment card	$4,500	$4,500
Totals	$1,560.35 (until the 11th when it should be $965)	$22,000	$17,900

This will be his third month with all his cards except the Sweetwater/Synchrony at $0.00 (or very close). He wants to be able to apply for an Apple Card, at the beginning of October, so that is his concern. I understand that neither FICO 8 nor FICO 9 (which is used by Goldman Sachs for the Apple Card) are time series, but I was just concerned that they would be able to see the reported $595 balance and that would be a problem.

[Anonymous]

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@blindambition wrote:

If there's a minimum payment due, make sure it's paid by due date. Under Chase's T/C, credit won't negate that and will be considered late.

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Amusingly, there is no minimum due as all these charges are after the last statement, but there is about $622 in other charges on the card. He was going to pay $650 just to make sure that the balance is $0.00 after the refund.

[Girlzilla88]

@Anonymous     If that is the only thing that will show on the statement then you are still under the 30% usage, if that other 622 is on there it will get a more noticable ding but again when it goes back things will be corrected accordingly      I'm not sure how strickt Apple is on Usage showing, but if you are that worried you can wait for another month to report before apping for the Apple (if someone has that card and can chime in on it's Application DPs that would be great) 

[Girlzilla88]

@Anonymous     But your individual is pretty great though if those others I believe it was 3 or so stay 0 that will help even if the one bumps up for a moment