U.S Bank reported the wrong balance. (According to Credit Karma)

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Moizy
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U.S Bank reported the wrong balance. (According to Credit Karma)

Postby Moizy » Tue Apr 16, 2013 9:13 pm

I have been paying my credit card bills in full ever since I got the Secured Card from U.S Bank. I know my billing cycle and the dates I have to pay my bill by. My bill cycle ends on the 27th of every month and I have til the 23rd of every month to pay off the bill and not get charged interest. On the 27th of March, I paid my balance in full. On March 28th I made a purchase of $37.60. I just found out today that U.S Bank reported a balance of $38 to TransUnion on March 29th.

How do I go about dealing with this? I called U.S Bank Cardmember service and they said I would have to call back a specific department that handles this situation during their business hours.


I'm not sure if I should file a dispute with TransUnion or call U.S Bank or both.

And am I missing some crucial piece of information here that they reported the right thing? Aren't they supposed to report the balance of the previous month (which in my case was $0)?


Credit Karma is also telling me that my credit card utilization is 0% even though I use it a lot. Do I really have to leave a small balance to show utilization?


cashback
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Postby cashback » Tue Apr 16, 2013 9:25 pm

First off, dont go filing a dispute about something that changes every month anyways. Second, I believe US Bank reports balances on the 1st on the month, regardless of statement date.
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Moizy
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Postby Moizy » Tue Apr 16, 2013 9:35 pm

cashback wrote:First off, dont go filing a dispute about something that changes every month anyways. Second, I believe US Bank reports balances on the 1st on the month, regardless of statement date.


But that transaction was out of my bill cycle. So if I'm making purchases in a new billing cycle while I have paid off my old bill already, my most recent balance from the current cycle will get reported?

cashback
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Postby cashback » Tue Apr 16, 2013 9:50 pm

From what I have read, yes. Whatever your balance is on the 1st will be what is reported. I have a US Bank card but I dont really care about what balances are reported so I have never checked to see.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Moizy
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Postby Moizy » Tue Apr 16, 2013 9:57 pm

Wow. You learn something new everyday...I always thought it was the balances from your previous billing cycle that get reported to the bureaus. I was totally not aware that if I pay off my bill after the statement is given to me, and make a new purchase, that purchase is what will be reported.

cashback
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Postby cashback » Tue Apr 16, 2013 10:05 pm

Moizy wrote:Wow. You learn something new everyday...I always thought it was the balances from your previous billing cycle that get reported to the bureaus. I was totally not aware that if I pay off my bill after the statement is given to me, and make a new purchase, that purchase is what will be reported.


US Bank is the only bank I have ever heard of that does this...
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Moizy
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Postby Moizy » Tue Apr 16, 2013 10:12 pm

I'm actually going to try and get that taken off my report. I was not aware of that so when I find out what they will be doing, I will update this thread. Thanks for your help.

cashback
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Postby cashback » Tue Apr 16, 2013 10:16 pm

It will be off your report in two weeks? Just have a zero balance at the end of this month.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Vandalized2
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Postby Vandalized2 » Wed Apr 17, 2013 12:03 am

US Bank does quite a few things differently then most CC Companies and banks. I would know I work for them and I am constantly telling people of our procedures and how they differ and how it must be weird to here some of our policies for our Cardmembers. For example, when US Bank re-issues new plastic for the upcoming expiration date they do not mail you out your new card until midway through the month that your credit card actually expires. I always though that was weird and I atleast have 4-5 calls on that issue alone everyday.



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