Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
wwwupstateropecom

0 Contributions
0 People Helped
Do the reporting agencies update off the most recent credit card statement or the card balance
If I pay off the cards 2 days before the statement comes out will the reporting agencies report I have a zero balance on my credit cards? or do they take the daily balance on any given day of the month?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3672 People Helped

The day your sent your statement

If you pay off the bill before the statement closing date then it will get reported as a zero balance. As if you never used it.  Let the card report the balance. then pay it off. There is no benifit to paying early, You might as well paid cash.   

The credit card companies and other lenders generally report to the credit bureaus the day that your statement is mailed.  

The credit bureaus then update your report once a month based on the accumulated info over the past month and that is then cross reported. It can take up to 60 days for info to be updated on any given credit report. 

Hope this helps

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.