When do credit card companies report to credit bureaus?

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improvent363
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When do credit card companies report to credit bureaus?

Postby improvent363 » Mon Aug 08, 2011 8:46 pm

Wondering when do credit card companies report you to the credit bureaus? What billing cycle is reported to the credit bureau?

For example, I will be getting interest charges starting from august, since my 0% APR is over in august. So when will they report it? As soon as that or the next billing cycle which starts on September 14?


LTomBerry
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Postby LTomBerry » Tue Aug 09, 2011 7:02 am

Whenever your monthly billing cycle closes, banks normally report the balance on the statement to the bureaus within a day or two.

Your CC has been reporting to the bureaus all along. It tells them the statement balance, credit limit, and minimum payment, among other things.

It does not report your interest rate, how much interest you have paid or whether you pay in full every month or carry a balance.

improvent363
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Postby improvent363 » Tue Aug 09, 2011 12:35 pm

LTomBerry wrote:Whenever your monthly billing cycle closes, banks normally report the balance on the statement to the bureaus within a day or two.

Your CC has been reporting to the bureaus all along. It tells them the statement balance, credit limit, and minimum payment, among other things.

It does not report your interest rate, how much interest you have paid or whether you pay in full every month or carry a balance.


Okay thanks for the info.

But what I meant by my question was that my APR will start to add up to my balance starting mid august, since the 0% intro rate is over. so will this new balance be reported to the credit bureau on mid August or next billing cycle which is mid September?


Money card
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Postby Money card » Tue Aug 09, 2011 10:02 pm

I'm guessing mid august. because like what LT said, they report your credit limit and it won't change within 3 weeks. your minimum balance wont change, it will be the same unless you charge a much, much higher amount than what you normally charge. your statement balance changes from months to months.

I'm guessing the new balance will be in a couple of weeks. credit card processing is done quicker nowadays.

Credit Card guy
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When does the CC company report your balance to the 3 credit agencies?

Postby Credit Card guy » Wed Oct 26, 2011 12:42 am

I was told that I need to keep my balance at a minimum to really help improve my credit score. The thing is that I need my credit cards to make all my payments(utilities, phone, internet, food, gas, etc). I usually pay them off on the 1st of the month and then charge them back up to nearly max them out.

I was thinking of making a large payment where it only shows a low balance before it gets to the credit agencies however, how do I find out when the cc company sends off the information.

Thank you for your time.

Credit Card guy
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Postby Credit Card guy » Wed Oct 26, 2011 4:42 pm

improvent363 wrote:Wondering when do credit card companies report you to the credit bureaus? What billing cycle is reported to the credit bureau?

For example, I will be getting interest charges starting from august, since my 0% APR is over in august. So when will they report it? As soon as that or the next billing cycle which starts on September 14?


So for example, if my credit card statement is from August 12 to September 12, the CC will report to the bureaus the amounts on Sept 12?



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