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When do creditors report?


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Hi!

The best way that's worked for me is to look closely at any of your credit reports. Usually, there's a line for "Last Reported". So, for instance, Target last reported Jun 26, 2007, I could reasonably expect them to report on July 26, or thereabouts.

That said, I've seen Orchard (HSBC) report late, or if there's no balance, skip reportig that month. Kinda strange. I'm sure people have had many different results.

Quietman :hmm:

P.S.Having gone back and read your message, I see that HSBC is new for you. I've seen it take 6-8 weeks before they report a new account,

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HSBC reports at the last day of the month.

Well, they date their reports as of the last day of the month. I'm convinced they don't actually transmit the reports to the CRAs until 10-15 days after that. Actual dates when my HSBC account was updated on my credit reports:

Listed reporting date: 6/30

Posted to EX on 7/11

Posted to EQ on 7/17

Posted to TU on 7/27

The previous month was similar - my 5/31 report posted to TU on 6/29.

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Well, they date their reports as of the last day of the month. I'm convinced they don't actually transmit the reports to the CRAs until 10-15 days after that. Actual dates when my HSBC account was updated on my credit reports:

Listed reporting date: 6/30

Posted to EX on 7/11

Posted to EQ on 7/17

Posted to TU on 7/27

The previous month was similar - my 5/31 report posted to TU on 6/29.

I had to call them today for another reason and the guy told me that they report in the statement date. Now I'm :confused: Two other reps told me on the last day of the week. I guess we'll see. I'm kinda pissed at them b/c my CL is $300. I have spent and repaid that limit 3 times in one month and when I went to make my third payment the computer system told me that I could only make payments in the amount of two times the limit of my account per month. So what that means, is that my utilization is abou 96% right now and I can't pay it down.

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Why would you not be able to pay? I can't see any card refusing payment...

Here's the message I get.

The total dollar amount of payments scheduled in a calendar month cannot exceed two times your credit limit. Please enter a different payment amount.

Since I've been charging 100% of the CL once a week and paying it off I have no current bill due. If I make the payment for 8/01, it lets me pay no problem but I'm going to wait and see how they report my limit so I can schedule my payments better.

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Hmmm, I guess whatever the balance is on 20 calendar days...that what mine is for interest free transactions....maybe thats what they are forcing you to do is carry a balance, past 20 days so they can charge a monthly charge? like a service charge...and interest......they don't make any money if they don't collect interest services and monthly fees.

Maybe not...just a guess...whats the card?

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