Credit Card reporting to CRA's

[tufa4311]

I read a lot about how you should have a 1-9% balance on one of your cards to be reported to the CRA's - in other words, do NOT fully pay off before they report to the CRA (but always pay off by due date, obv.). How do you know when they report to the CRA's? I asked all my cards and they says every 30-60 days - I can see on my credit report that they all report at least once a month but they can't tell me the day.  Many here say they report on the due date, or the 1st pf the month, etc  - how do I know when? And if I don't know when how can I utilize the 1-9% reporting?

[myjourney]

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@tufa4311 wrote:

I read a lot about how you should have a 1-9% balance on one of your cards to be reported to the CRA's - in other words, do NOT fully pay off before they report to the CRA (but always pay off by due date, obv.). How do you know when they report to the CRA's? I asked all my cards and they says every 30-60 days - I can see on my credit report that they all report at least once a month but they can't tell me the day.  Many here say they report on the due date, or the 1st pf the month, etc  - how do I know when? And if I don't know when how can I utilize the 1-9% reporting?

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Welcome to the forum

Most lenders report to CB's 3-5 days after your statement cuts

Look at your statements find the cut date and you'll have a good idea of  when it will report 

Example cuts on 23rd ...........reports to CB's 26-28th

[mongstradamus]

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@myjourney wrote:

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@tufa4311 wrote:

I read a lot about how you should have a 1-9% balance on one of your cards to be reported to the CRA's - in other words, do NOT fully pay off before they report to the CRA (but always pay off by due date, obv.). How do you know when they report to the CRA's? I asked all my cards and they says every 30-60 days - I can see on my credit report that they all report at least once a month but they can't tell me the day.  Many here say they report on the due date, or the 1st pf the month, etc  - how do I know when? And if I don't know when how can I utilize the 1-9% reporting?

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Welcome to the forum

Most lenders report to CB's 3-5 days after your statement cuts

Look at your statements find the cut date and you'll have a good idea of  when it will report 

Example cuts on 23rd ...........reports to CB's 26-28th

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if you look at your previous statement, it will have an date when it posted. It should be up to 5 days after your due date.

[tufa4311]

Not sure what you mean - When it "cuts".

The statement has a few dates  on it:

Due Date: May 14, 2014

31 day Billing Cycle: March 18 - April17 2014

[myjourney]

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@tufa4311 wrote:

Not sure what you mean - When it "cuts".

The statement has a few dates  on it:

Due Date: May 14, 2014

31 day Billing Cycle: March 18 - April17 2014

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The cut date is the last day of the billing period  in your case April 17th

[tufa4311]

Thank you!

[tufa4311]

How do I list my credit scores under my posts like you guys do?

[myjourney]

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@tufa4311 wrote:

Thank you!

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Your welcome 

[myjourney]

Also forum trick 

Quoting 

Under the message you wish to respond to 

Click reply

Top right hand corner 

Click quote 

Enter response 

[tufa4311]

So those are my scores...not so hot.

My credit issues:

-Delinquency: I have one 30 day late Payment from Nov 2013. Min Balance was due Oct 14, 2013 - I paid full balance on Nov. 25, 2013. (no excuses - I was 15 days past the 30 day, was out of the country...it was my responsibilty and I missed it. Used all the "tricks" in the books to get them to remove the late payment, good faith letters, calls, supervisors, made it an auto-pay..they just wouldn't do it)

-Length of time accounts have been established: I have 3 credit cards but only 2 of them report - the other is a AMEX Corp and they don't report. The oldest goes back to Feb. 2013 (I have about 17 years of credit in Canada, no lates the whole time but I huess U.S. mortgage companies don't care about that - or do they?)

-Proportion of Balance to Credit Limit: at the time of the report I have a total balances of $4,457 and a total credit limit of $10,515 (also, the majority of that balance was on one card and it was probable about 50% utilized). All balances have been $0 as of last month.

-Number of accounts delinquent: not sure of this one. It says "accounts", as in plural, but I only had that one 30-day limit.

Lastlly it lists Potential Improvement: Exp +43, TU +30, Equ +41

Comments?

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@tufa4311 wrote:

I read a lot about how you should have a 1-9% balance on one of your cards to be reported to the CRA's - in other words, do NOT fully pay off before they report to the CRA (but always pay off by due date, obv.). How do you know when they report to the CRA's? I asked all my cards and they says every 30-60 days - I can see on my credit report that they all report at least once a month but they can't tell me the day.  Many here say they report on the due date, or the 1st pf the month, etc  - how do I know when? And if I don't know when how can I utilize the 1-9% reporting?

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Exp: 640, TU: 619, Equ: 610