@NotTellinYou wrote:I searched but couldn't find this as a topic so excuse me if I missed it.
Looking at my Alerts over the past 30 days I see almost daily alerts while I was away on vacation. I have alerts like "the balance on one of your accounts increased by $30". In total a 21 alerts as I spent. That's fine! However when I returned home on 3/18 I paid all accounts down to zero. Yet I've not had a single alert showing that and none of accounts have updated showing paid.
I just found it interesting that when I charged something, it would quickly appear, when I pay off something I get crickets for days. Is this to be expected?
Other than Chase, nobody is going to report you paid off your balances until next month when your next statement prints.
So yes, it's expected.
There's no alerts because your creditors aren't telling the CRA's you've paid your balances until next month. Except Chase, which typically does update back to $0 once paid in full.
@NotTellinYou wrote:I searched but couldn't find this as a topic so excuse me if I missed it.
Looking at my Alerts over the past 30 days I see almost daily alerts while I was away on vacation. I have alerts like "the balance on one of your accounts increased by $30". In total a 21 alerts as I spent. That's fine! However when I returned home on 3/18 I paid all accounts down to zero. Yet I've not had a single alert showing that and none of accounts have updated showing paid.
I just found it interesting that when I charged something, it would quickly appear, when I pay off something I get crickets for days. Is this to be expected?
It has to do with when the next reported balance hits, not when you make the payment.
@NotTellinYou wrote:I understand and I'm good with that. My question is why do the credit card companies report almost daily purchases and not wait until the statement?
They do not report purchases.
I've never heard of Arvest, so I don't know what they do. I know that Synchrony is known for sometimes reporting balances within the same billing cycle after large purchases. The only other company I know of that regularly posts multiple balances within the same billing cycle is Chase, but they only do it when the account is paid down to zero.
BTW: I have Chase, and Arvest who both have issued statements since yet are yet to be updated. Again, I'm cool with the statement and even waiting after that. I just think it's interesting that usage is reporting with a different frequency and was wondering why. 🤷🏻♂️
I've also seen Chase report mid-cycle when an account goes from zero to 'not zero's.
Specifically, my CFU had been at zero for several cycles. I made a purchase (not huge -- a few hundred against a few thousand CL) mid-cycle, and it reported.
I've also (happily) seen BoA report mid-cycle when I paid down a significant chunk of the balance on a card with significant utilization (from my bad old days, when my credit behaviour & scores were ... not pretty).
@NotTellinYou wrote:I understand and I'm good with that. My question is why do the credit card companies report almost daily purchases and not wait until the statement? BTW: I have Chase, and Arvest who both have issued statements since yet are yet to be updated. Again, I'm cool with the statement and even waiting after that. I just think it's interesting that usage is reporting with a different frequency and was wondering why. 🤷🏻♂️
This sounds more like yes your purchases are going to show up on your banking account page. CRA's dont report swipes. Just what you swiped from opening to closing date of your statement and the balance of whats owed. I went to look at Arvest. See whats up. Owned by the Walmart (Walton) Family. Interesting.
@expatCanuck wrote:I've also seen Chase report mid-cycle when an account goes from zero to 'not zero's.
Specifically, my CFU had been at zero for several cycles. I made a purchase (not huge -- a few hundred against a few thousand CL) mid-cycle, and it reported.
I've also (happily) seen BoA report mid-cycle when I paid down a significant chunk of the balance on a card with significant utilization (from my bad old days, when my credit behaviour & scores were ... not pretty).
I've never heard of that, or experienced that.
@SouthJamaica wrote:
@expatCanuck wrote:I've also seen Chase report mid-cycle when an account goes from zero to 'not zero's.
Specifically, my CFU had been at zero for several cycles. I made a purchase (not huge -- a few hundred against a few thousand CL) mid-cycle, and it reported.
I've also (happily) seen BoA report mid-cycle when I paid down a significant chunk of the balance on a card with significant utilization (from my bad old days, when my credit behaviour & scores were ... not pretty).
I've never heard of that, or experienced that.
I just had Chase report mid cycle on me; I PIFed my CSP a week ago or so (statement isn't due until next week), and all three CBs are showing a zero balance on my card.
