Paying on Credit Card Balance and Additional Charges withing the same billing cycle?

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AceH
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Paying on Credit Card Balance and Additional Charges withing the same billing cycle?

Postby AceH » Tue May 03, 2011 10:30 pm

If you pay your credit card balance in full or pay "x" amount on the card BEFORE it's due date/billing statement closing period and BEFORE the monthly report is sent to Equifax, Experian and TransUnion, which amount will be reported? Example: You start out with a $1,000 charge and pay off $500 BEFORE the closing period, and then charge another $1,000 which amount will be reported, $1,500 which you actually owe or $2,000 the amount your charged during that billing cycle?


jmoney
 
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Postby jmoney » Sun May 08, 2011 4:18 am

I checked my credit today and what showed for the last bill was the due amount at EOM. My CL is not big and I have to pay mid-cycle all the time.

CFE Sleuth
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Postby CFE Sleuth » Mon May 09, 2011 7:52 pm

If I'm reading you correctly and you paid (in your example) half of what you charged BEFORE your cycle ended, BUT then charged another $1000 by the end of your billing cycle, then in my opinion the $1500 debt that you owe should be what is reported to your credit bureaus.
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AceH
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Postby AceH » Tue May 10, 2011 4:36 am

Thanks for the info. I just wanted to be sure which amount is actually reported.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Mon May 16, 2011 10:48 pm

Basically, whatever the amount owed on the date your cycle closes is the amount that is sent to the credit bureaus.
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