@Anonymouswrote:
Very helpful thanks. My only remaining question is the distinction between when a card company reports the small balance versus when they cut the statement. I had it in my head that they did both at same time - no? If not, Which typically happens first? Does the company instead create a statement- wait some amount of time to allow the person to pay and then report any balance outstanding ? Basic question I know but I’ve never paid attention to the process of statements and reporting at this detail. Timing seems to be key here
Most cards report the statement balance on or just after the statement date. With these cards, if you bring your balance down to your desired amount just before the statement cuts, you'll be set. Make sure you allow enough time for your payment to post. Also, you may need to give the card a bit of a breather at statement time, especially if you want it to report zero.
As mentioned, Chase reports the statement balance at statement time, and it also reports zero when you pay to zero. If you want a zero balance and miss the statement cut date, you can fix it afterward. Also, Chase will report at any time upon request.
US Bank is another exception. They report your balance as of the first of the month, so rather than worrying about the statement balance, bring your balance down late in the calandar month.
