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If I pay my US Bank Visa today (10/30) will it report?


Sidewinder
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I remember cv posting around here that US Bank reports to the CRA's the balance on your card at month-end; not at statement-cycle end.  However the next time they run their batch won't be till Monday, November 1st, which suggests I'm SOL if I want to pay off the final $550 today and see a resultant score bump.

 

UNLESS, maybe, I pay the card with a direct xfer from one of my US Bank deposit accounts?  If I do that, I'm thinking, since they obviously don't need to wait for a batch cycle to complete to see whether my payment goes through, they can, with zero risk, update the balance instantaneously like I see when I xfer between multiple deposit accounts I have at the same bank.  (And the sub-unless here, the "unless"(b) is, if they're hip to the fact that Friday was the last biz day of the month, was their Friday batch the one that generated the info that's going to the CRA's, even if the calendar month hadn't ended?  : /  )

 

(I just don't want to move >$500 out of my savings account if it's not going to get me a November score bump.)

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i don’t know about US Bank, but I’ve had is go different ways with other institutions. For instance, I’ve recently held accounts with Good Bank and Evil Bank.

 

At Good Bank, a direct transfer payment on statement closing day was applied first, and then the monthly close out applied, with a resulting lower balance reported to the CRA’s.

 

At Evil Bank, under the same conditions, they did the monthly close out first (and reported the higher amount to the CRA’s), and then applied the payment, which essentially became next month’s payment. To maintain high levels of decorum and cordiality, I won’t mention the name of Evil Bank, except to say that its initials are WF.

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13 hours ago, Sidewinder said:

I remember cv posting around here that US Bank reports to the CRA's the balance on your card at month-end; not at statement-cycle end.  However the next time they run their batch won't be till Monday, November 1st, which suggests I'm SOL if I want to pay off the final $550 today and see a resultant score bump.

 

 

If you make a payment before Monday, it will reflect on the balance they report to the bureaus. You could ask a CSR for the time exact time of the day they report.

 

Nonetheless, you should be fine if you make a payment after hours, as it will process on first thing on Monday before they issue the report to the Bureaus. It won't matter if you do it from an account they have a relationship with. All transfer processing time gets treated the same. 

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