Does “reporting” a balance have any added value?

[SouthJamaica]

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@KLEXH25 wrote:
I definitely understand that part. I accidentally allowed $0 to report on all three of my cards and lost 12 points across the board! But does it matter to rotate which card reports the balance (ie Capital One, which I never let report)?

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No, it doesn't.

[SouthJamaica]

I reject the notion that there is anything "natural" or "organic" about paying after receiving one's statement, rather than before.

A better term would be "historical".

In the old days, when we waited to receive a paper statement in the mail to know what our balance was, and then sent in a payment, that was natural enough.

But nowadays, where we have 24/7 online access to our accounts, I find it more natural and organic to pay part or all of my balance whenever I feel like it.

[Anonymous]

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@SouthJamaica wrote:

But nowadays, where we have 24/7 online access to our accounts, I find it more natural and organic to pay part or all of my balance whenever I feel like it.

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Right, but that's more of a going above and beyond type of thing IMO.  For others, they wait for that statement/bill to cut just like any other (non CC) bill.  That provides the due date and ultimate constraint as to when payment needs to be made. 

I think when we're talking about letting balances report "naturally" it really has nothing to do with paying before or after the statement ending period, but rather whether or not someone is micromanaging the number that ultimately gets reported to the bureaus.

[Anonymous]

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@NRB525 wrote:

It theoretically might help, except when the accumulation of a lot of large balances causes AA, which I got from the whoppers. Others report that recently.

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Can you elaborate a bit more on the specific AA you received and what in your opinion caused it?  AA from anything other than a late payment (which I'm assuming wasn't the case here) is extremely rare relative to AA resulting from Payment History issues, so any time I hear about them I'm always very curious to hear the details surrounding it.

[Anonymous]

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@HeavenOhio wrote:

There's room for payment information in all three reports. But few banks provide it. For most cards, it's just a bunch of empty space.

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Are you sure about that?

On TransUnion, Capital One, Disco, NFCU, and SSFCU all used it — I didn’t have BBVA or Synchrony reporting yet when I pulled this one. Even my Best Egg loan has this historical data. 

With NFCU admitting they use trended data from other lenders, I imagine most lenders are actually reporting this stuff. 

[Anonymous]

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@KLEXH25 wrote:
Thanks for sharing that, @Saeren - that’s exactly what I was thinking about. It totally looks like it isn’t being used. So from the issuer’s perspective, it’s probably fine, but from an outsider’s view it looks like you stopped using it.

Right now, because of my lower limits, it’s hard to let anything report organically. I have to pay several times a month and be mindful of statement cut dates, and other balances (hence the 12 pt loss for paying off all my cards, because I timed it wrong). Since I want to apply for a new card soon and look into refinancing my loan, I’m trying to optimize my scores. Ultimately, my goal is to get my limits to a point where I don’t have to worry about these little tidbits, but until then.....

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Yeah I have been micromanaging my cards just to try to get to AZEO and see what effect that has on everything and it’s a bit annoying to manage that way to be honest. 

You can always pay off all but a few bucks and let that post. 

I dont know, it definitely looks like I never use my oldest card though so I should probably let something report here and there. 

[Anonymous]

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@SouthJamaica wrote:

I reject the notion that there is anything "natural" or "organic" about paying after receiving one's statement, rather than before.

A better term would be "historical".

In the old days, when we waited to receive a paper statement in the mail to know what our balance was, and then sent in a payment, that was natural enough.

But nowadays, where we have 24/7 online access to our accounts, I find it more natural and organic to pay part or all of my balance whenever I feel like it.

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Most people still wait for the bill and then pay. It’s becoming somewhat common to pay multiple times a month as evidenced by things like Amex’s Pay It Plan It but that’s probably more Millennial behavior and those of us who try to rig the scoring system in our favor than representative of people who sit down once or twice a month and pay bills when they get their checks. 

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

But nowadays, where we have 24/7 online access to our accounts, I find it more natural and organic to pay part or all of my balance whenever I feel like it.

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Right, but that's more of a going above and beyond type of thing IMO.  For others, they wait for that statement/bill to cut just like any other (non CC) bill.  That provides the due date and ultimate constraint as to when payment needs to be made. 

I think when we're talking about letting balances report "naturally" it really has nothing to do with paying before or after the statement ending period, but rather whether or not someone is micromanaging the number that ultimately gets reported to the bureaus.

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There are reasons other than FICO scores to pay sooner. I, for one, don't like to wait for the last minute to get things done. And I don't like owing money. So if I can pay something I pay it. I don't care if I'm missing the 'float' or something.

[Anonymous]

I don't disagree with you.  I just feel that the vast majority out there doesn't really follow your lead with respect to the subject and still pays on or slightly before their due date.

I personally have paid every possible way.  Often I'll pay my statement balance or slightly more, perhaps rounded off to the nearest hundred or $500 depending on the balance shortly after the statement cuts.  Then before the due date sometimes I'll make another payment depending on what my spend has been over that 3 weeks or so.  Other times I'll just wait until a few days before the due date and pay then.  It sort of depends on the cards, how much (spend and swipes) I use them, etc.

[HeavenOhio]

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@Anonymous wrote:

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@HeavenOhio wrote:

There's room for payment information in all three reports. But few banks provide it. For most cards, it's just a bunch of empty space.

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Are you sure about that?

On TransUnion, Capital One, Disco, NFCU, and SSFCU all used it — I didn’t have BBVA or Synchrony reporting yet when I pulled this one. Even my Best Egg loan has this historical data. 

With NFCU admitting they use trended data from other lenders, I imagine most lenders are actually reporting this stuff. 

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I'm absolutely sure.

On my reports, as of February 2018, Capital One, AMEX, and Chase haven't reported the trended data information. Barclays, Synchrony, and Wells Fargo have reported it.

Here's a screen capture from the last TU report I pulled. The "amount paid" row is missing entirely from cards that haven't reported payment numbers. On the left is a Barclays card. On the right is a Capital One card.

On my Experian reports, zeros are inserted when actual amounts aren't reported. On Equifax, a sea of empty space is left.

Of course, I'd expect all this to vary from person to person.