Who reports when?

[Amerikaner83]

OK after having this allegedly brilliant idea in another thread, I'm starting this one.

I'd like to know - WHO reports WHEN? Simple? Probably. One catch: I need to know the DAY. This is perfect for those who pull daily, who are looking to see when their TLs will update. I figure it can be a tool that we can ALL use to see when Cap1 or any other OC updates.

This is for OC's only! No CAs please.

So when does your OC report? You can use these dates to create a spreadsheet on which of your Ocs reports to the CRAs when, so you can more precisely nail down the mot beneficial dates to pay stuff - or days NOT to buy stuff. For example - if Cap1 reports on the 10th of the month, I don't want to make big purchases on the 5th of the month and pay on the 20th, y'know?

Ok enough explaining:

So it is the 15th of the month now, and the only ones on my CR who have updated thus far for April:

* Crown Jewelers

* Juniper (Barclay's)

I do not know the exact day they reported, but will edit this thread accordingly in May when they do.

How about yours? Who updates, and when do they do so?

[LeslieR]

Credit One Bank: 15th

First Premier: 7-10th

Chevron: 1st

Target: 29th

Orchard: 31st (when they decide to...it doesn't happen every month for me...and that is just one reason they are FIRED)

Will report my new cards when I know!

ADD: Hooters: 9th

[lovebug5]

Juniper: 7th of the month

WaMu: 10th of the month

Target: 26th of the month

Macy's Visa: 16th of the month

Cap1: 1st of the month

Macy's Store: 11th of the month

Hooters: 14th of the month

HSBC: 31st of the month

[isislc]

Ok, I posted this before but here it goes.

-Carnival Sea Miles due date is on the 25th of the month, so reports on the 6th +/- 1 day.

-Target due date is on the 10th, so reports on the 17th

-Bank of America due date is on the 14th, so reports on the 17th

-Kay's due date is on the 26th, so reports on the 6th on the following month.

-Cap1 due date is the 22nd, so reports on the 28th +/- 1 day

-Hooters due date is the 22nd, so reports on the 28th

-HSBC's due date is the 31st, so reports on the 3rd. On a shorter month it will report the last day and still report the same day.

My NFCU cards and Lane Bryant card aren't reporting yet.

[Amerikaner83]

OK looks like Cap1 reported to my EX today

[McG]

I don't mean to question the value of your thread, but I work for a company that essentially runs the backend for most of the major banks in the US and from what I can tell, very few of them report credit once a month anymore. They generally transmit to the CRAs every weeknight (during batch processing) and you'll notice it's usually sometime just after your due date or more likely just after your statement date.

There may still be some CC issuers that report on the same day every month, but the big cards (BoA, Chase, Cap1, Citi, etc.) report based on your account alone giving each person a different reporting date.

Knowing (and recording) that date can be critical if you're buying a house, car, etc., though, so you know which card to throw cash at first to raise your scores. I.e. if you're applying for a house next week, there's no sense in paying off a card that just reported, better to pay one that's about to report so it will maximize the chance of your score going up.

[Amerikaner83]

Yeah I was thinking about it last night as well...I am coming ot the same conclusion - especially since lovebug said Cap1 reports on the 1st of the month, and they haven't for me as of yet...so yeah.

[isislc]

This is why I included my due date for my accounts. Not every person is going to have the same due date or same reporting date. Now, if someone happens to have the same due date as I do, then my information would be helpful. In a way it still is useful because you can gauge an idea of how long after your due date they tend to report. I always pay on my cards just before the reporting dates like Mackguyver suggested to maximize my Fico bumps. So far it has worked wonderfully.

[Bigwoodystyl]

Most credit card companies offer somewhere between 15-25 billing cycles. FDR North (the credit processor that 80% of banks use) offers 21 billing cycles. Although cycle 21 is reserved for charged off accounts.

Consequently, each billing cycle reports on a different date.

Keep in mind, however, that what reports on the 27th one month might report on the 24th or 29th the next month. That is because billilng cycles of this nature are usually set by business days and not calendar days.

[isislc]

Most credit card companies offer somewhere between 15-25 billing cycles. FDR North (the credit processor that 80% of banks use) offers 21 billing cycles. Although cycle 21 is reserved for charged off accounts.

Consequently, each billing cycle reports on a different date.

Keep in mind, however, that what reports on the 27th one month might report on the 24th or 29th the next month. That is because billilng cycles of this nature are usually set by business days and not calendar days.

I've noticed that, try to always remind myself that there can be a + or - in the number of days for certain accounts. I try to give myself a cushion of a day or two to accommodate that cycle. This is always true when you have a short month as opposed to a long month.

[TTigggers]

My cap 1 payment is due on the 9th and they reported on the 15th

is due on the 4th and reported on the 9th

Orchard was due on the 20th and reported on the 31st

[LoveToGod]

I think this will give someone a good general idea, but I have noticed that the dates are different for the same creditors.

I will keep an eye out on my daily pulls and post what I see though.

[LoveToGod]

My understand of this is that the credit card companies report the balance that printed on your statement as the balance to the CRAs. You guys find that to be true?

[isislc]

My understand of this is that the credit card companies report the balance that printed on your statement as the balance to the CRAs. You guys find that to be true?

Nope, if I pay an account by the report date, the balance at that time is what will be reported. I've been able to get away with paying minimums only and then zeroing out a card just before they report so that my CRs reflect all my cards having $0 balances. This has pretty much been consistent. Only time it doesn't happen is if your yearly fee is due. At which point, if you don't include enough to cover the yearly fee by the due date. Your account will show you having a negative if you pay it and since the online payment centers usually allow you to only pay 10% more than what is due, you may end up having to mail in the payment. You can try to zero it out but the yearly fee will show up as your balance for that month ONLY.

[LoveToGod]

Nope, if I pay an account by the report date, the balance at that time is what will be reported. I've been able to get away with paying minimums only and then zeroing out a card just before they report so that my CRs reflect all my cards having $0 balances. This has pretty much been consistent. Only time it doesn't happen is if your yearly fee is due. At which point, if you don't include enough to cover the yearly fee by the due date. Your account will show you having a negative if you pay it and since the online payment centers usually allow you to only pay 10% more than what is due, you may end up having to mail in the payment. You can try to zero it out but the yearly fee will show up as your balance for that month ONLY.

Then I should make a log of when my creditors report. Is it always after the statement date?

[CleverCynic]

You should at least attempt to pre-empt the yearly fee with a call to see if they'll waive it before sending in extra money. It's always worth a shot.

[lovebug5]

Then I should make a log of when my creditors report. Is it always after the statement date?

I found this info off of my tri-merge CR.

[isislc]

Then I should make a log of when my creditors report. Is it always after the statement date?

No, some DO report before the due date. As Lovebug suggested, you can find the actual report dates by checking out your tri-report.

[CleverCynic]

My understand of this is that the credit card companies report the balance that printed on your statement as the balance to the CRAs. You guys find that to be true?

Isis and I don't seem to agree on this, but I find it to be definitely true in the case of all the cards I have. I've done it every which way but loose and it's always my statement balance.

[LoveToGod]

First Premier updated today May 5th. Both the new account I opened with them and the balance on the previous.