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The Master Credit Cards that Report Mid-Cycle Midcycle or Before Statements Close Thread

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It turns out I got some bad advice from my credit card issuer. According to Credit.com, it does matter how much you spend. That's because your credit utilization ratio is based upon whatever your balance is on the day your lender reports your data to the credit reporting bureaus, says Tom Quinn, consumer credit export for Credit.com. And that could be at any time during your billing cycle, he says.

 

I thought it was pretty rare, but a cursory search turned up reports of these issuers reporting before statements officially close:

 

Bank of America

Barclays

Capital One

Discover

Elan

GEMB

HSBC

UMB

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http://moneywatch.bn...ad-advice/4781/

It turns out I got some bad advice from my credit card issuer. According to Credit.com, it does matter how much you spend. That's because your credit utilization ratio is based upon whatever your balance is on the day your lender reports your data to the credit reporting bureaus, says Tom Quinn, consumer credit export for Credit.com. And that could be at any time during your billing cycle, he says.

 

I thought it was pretty rare, but a cursory search turned up reports of these issuers reporting before statements officially close:

 

Bank of America

Barclays

Capital One

Discover

Elan

GEMB

HSBC

UMB

 

HSBC seems to have switched recently to reporting at statement closing, at least in my experience.

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my HSBC went the opposite. used to be statement closing and reported on the 18th... now they update at the end of the month/1st of the next month (appears to around the 4th) similar to my target card but Target closes me out on the 28th.

 

BofA reports my statement close - every time. My payment is due the 24th and it reports the 27th - 28th when statment cuts.

 

 

I have tracked mine for the last couple of years.. Merrick/Hooters reports on the 18th for me

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This month alone, BOA reported for no apparent reason on a date with no apparent meaning. And they were one of the few who, like clockwork, I could count on for reporting the same day the statement cuts. And HSBC? Since April it seems they've adopted a new policy on reporting as well...."Wheel Spinning!" Because surely thats the only logical explanation for why they report with absolutely no rhyme or reason. (That is, when they bother to report of all.)

 

And last month, 2 of my WFNNB cards caught the fever and reported mid-cycle, just because they felt like it, and posted a nice fat balance that normally would have been PIF before statement day.

 

It's enough to drive you crazy. :dntknw:

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my HSBC went the opposite. used to be statement closing and reported on the 18th... now they update at the end of the month/1st of the next month (appears to around the 4th)...

 

I have tracked mine for the last couple of years.. Merrick/Hooters reports on the 18th for me

 

Interesting... just goes to show you can't trust any of them. HSBC messed up my gardening schedule when they switched.

 

Merrick, GEMB and Barclays also report at closing for me... I've been tracking all of them for about a year.

Edited by Occam

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USBank reports just after the first of the month based on the balance on the last day of the month, even though both of my statements cut in the middle of the month.

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BOA has always reported the statement balance, which is usually $0. This month about half way through the cycle, it reported again with a large balance. It's now paid back down to 0, hopefully that will report when the statement cuts this week.

 

If the mid-cycle reporting continues, I'm just going to stop using the card. It gives an inaccurate impression of how much of a balance I'm "carrying", when the charges are only a few days old.

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BOA reports when there's been a change like a CLI or CLD.

 

I have had Discover report randomly. Didn't see any particular reason why they did it when they did.

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BOA reports when there's been a change like a CLI or CLD.

 

I have had Discover report randomly. Didn't see any particular reason why they did it when they did.

 

 

 

I have anticipated the updates to BOA when there have been changes in limit or changes to personal info in the past, but there's nothing new this month. It was completely unexpected.

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Ditto. No changes on my BOA card this month to warrant early, random reporting.

 

BOA reports when there's been a change like a CLI or CLD.

 

I have had Discover report randomly. Didn't see any particular reason why they did it when they did.

 

 

 

I have anticipated the updates to BOA when there have been changes in limit or changes to personal info in the past, but there's nothing new this month. It was completely unexpected.

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So many Master Threads. I think we need to create:

 

The Master Thread to Master All Master Threads!!!!!

 

 

Complete with Ron1-esque subtle inferred importance (I like your exclamation marks, Ron). :D

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So many Master Threads. I think we need to create:

 

The Master Thread to Master All Master Threads!!!!!

 

 

Complete with Ron1-esque subtle inferred importance (I like your exclamation marks, Ron). :D

 

But then it'll just be one-upped by the Master Thread of the Master Thread to Master All Master Threads!!!

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So many Master Threads. I think we need to create:

 

The Master Thread to Master All Master Threads!!!!!

 

 

Complete with Ron1-esque subtle inferred importance (I like your exclamation marks, Ron). :D

 

But then it'll just be one-upped by the Master Thread of the Master Thread to Master All Master Threads!!!

 

It has a certain Lord of the Rings quality to it. But we're missing Gollum. He hasn't been around in AGES. :P

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So many Master Threads. I think we need to create:

 

The Master Thread to Master All Master Threads!!!!!

 

 

Complete with Ron1-esque subtle inferred importance (I like your exclamation marks, Ron). :D

 

But then it'll just be one-upped by the Master Thread of the Master Thread to Master All Master Threads!!!

 

It has a certain Lord of the Rings quality to it. But we're missing Gollum. He hasn't been around in AGES. :P

 

What about Lord of the Credit Lines? or Lord of the Cards? Lord of CLI's? You know, these might make good titles for some.

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Hello_Kitty_gun.jpg

 

I love it when you get all macho with me. :wub:

 

 

:rofl:

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I've had Discover and BOA report at unexpected times. Discover reported at the end of the month, while BOA reported at mid-month. I adjusted my Discover card due date so that the statement now closes near the end of the month. I closed my BOA account, so that's not an issue for me anymore.

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Discover reported a balance today on EX when my statement don't

close until Nov. 9. I carried a balance during my first 11 months

of CC due to the 0% purchase promo. I paid the balance off in

September and used it and PIF before my Oct. 9 statement and

had planned to do this every month I use it the way I do all

my CC I use monthly. I have 5 BT's going are the only CC that

report a balance every month. I let 1 extra report a balance this

month and now this with Discover brings me to 7 CC showing a balance.

 

I hate that they did that and looks like they don't like PIF

before statement close which is unfortunate for them, because

now I was going to PIF before the 9th. I am going to use that

money to pay someone else and PIF them Dec. 4 now. I probably

won't be using their card much now. They have really turned me

off the way AMEX use to turn me off.

 

They are in the sock drawer now until Gas & Groceries roll around again.

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Discover reported a balance today on EX when my statement don't

close until Nov. 9. I carried a balance during my first 11 months

of CC due to the 0% purchase promo. I paid the balance off in

September and used it and PIF before my Oct. 9 statement and

had planned to do this every month I use it the way I do all

my CC I use monthly. I have 5 BT's going are the only CC that

report a balance every month. I let 1 extra report a balance this

month and now this with Discover brings me to 7 CC showing a balance.

 

I hate that they did that and looks like they don't like PIF

before statement close which is unfortunate for them, because

now I was going to PIF before the 9th. I am going to use that

money to pay someone else and PIF them Dec. 4 now. I probably

won't be using their card much now. They have really turned me

off the way AMEX use to turn me off.

 

They are in the sock drawer now until Gas & Groceries roll around again.

 

Thanks Bob, I guess I forgot about this thread.

The only one on the list had been BOA that has done that to me, now Discover.

Anyone know if it's PIF by statement cut do they rereport?

Or do they report a balance even if you PIF with 0 balance when they report

if you had a balance?

That is for future reference because they are not getting paid until Dec.

4 now.

 

Just for future

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Cap One (biz card reports to personal) and USBank will report EOM regardless of statement cut date. And sometimes will report the stateement cut date as well. Macy's card reported a balance incurred about 5 days after the statement cut but before the EOM.

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