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cosimo

wait…do creditors report to all CRAs at the same time?

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On following this board's advice, I pay my CC down to a small amount right before I know (thought) it gets reported to the bureaus. This past month I had an $8 balance that EX and EQ showed (reporting date is the last biz day of the month), however my TU is showing $400 since I used my card on the 3rd of May… so what gives? why wouldn't they all show the same $8 balance? I thought the OC furnishes the data to all 3 at the same time :beee:


btw this is for a secured US bank card

Edited by cosimo

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Imagine you live in Utah and have 3 wives name TU, EX and EQ. Now you get home from a long day from work and you tell all 3 at the same time "Make me some dinner women!!". What do you think it's the chances that all 3 will have your dinner ready on the table at the same exact time?

 

Moral of the story is creditors report at the same time, but the lazy CRA's update at different times. Some are quick to update some are slow and lazy to update. You get the hang of their habits the longer you monitor them.

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Imagine you live in Utah and have 3 wives name TU, EX and EQ. Now you get home from a long day from work and you tell all 3 at the same time "Make me some dinner women!!". What do you think it's the chances that all 3 will have your dinner ready on the table at the same exact time?

 

Moral of the story is creditors report at the same time, but the lazy CRA's update at different times. Some are quick to update some are slow and lazy to update. You get the hang of their habits the longer you monitor them.

I guess that makes Innovis the crazy ex-wife, lurking in the background and no dinner. :lol:

 

What was your statement balance? Most creditors report the statement balance, so that is generally what you need to pay attention to. There are creditors, like DCU, that post at different times though.

 

TU is almost always the last to update anything for me by several days.

Edited by mendelssohn

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No one has really answered OP's question. This isn't a matter of one CRA updating the furnished information later than another. This is a matter of the information being furnished to EQ and EX being different than the information being furnished to TU.

 

If this was a result of TU updating late, TU would still show an $8 balance, they would just show it later than the others.

 

This is a result of the OC furnishing new data to TU a couple days after they furnished the data to EQ and EX.

 

It has nothing to do with what TU is doing on their end, it has to do with the information the OC provided TU.

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Now, if OP was wrong when s/he said this:

 

 

This past month I had an $8 balance that EX and EQ showed (reporting date is the last biz day of the month), however my TU is showing $400 since I used my card on the 3rd of May

then ignore everything I said above because the OP provided bad information and it is likely that TU was reporting $400 last month and it hasn't updated yet, like the others have.

 

However, given the information provided by OP, this is not what happened.

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thanks Eternal for examining it more closely. I thought it was because of different info but it was in fact the previous month's balance and not the May 3rd charge

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