I think it would be helpful to have a thread, probably with a wiki, that specifically deals with the dates that certain banks report credit utilization to the credit reporting agencies. Last month I resumed using a card issued by US Bank after a long period of inactivity, and now I'm dismayed to be reminded that it reports my credit utilization as of the first of the month. Had I remembered that, I would've taken care of it before hand.

Am I the only one interested in this specific topic?

I can get a list started based on my own experience, but would like to get input from other people.

Report as of statement closing date:
Chase
Citi
Amex
Barclay
FIA card services


Report as of another date:
US Bank (first of month)


There are many threads that discuss opinions about FICO scores and credit utilization, but none that hone in on the credit reporting dates in an easily accessible fashion:
http://www.flyertalk.com/forum/credi...-question.html

http://www.flyertalk.com/forum/credi...ilization.html

http://www.flyertalk.com/forum/credi...ilization.html

http://www.flyertalk.com/forum/credi...sing-date.html

I think that's a great idea, I'm always trying to get my credit utilitization in order before it gets reported as well This would be a great tool to help with that.

For me US Bank reports whatever is the balance on the last day of the month. They're the only creditor I know that doesn't report after the statement date. Even smaller issuers and credit unions still report after the statement.

^

USAA, NFCU, anyone?

And, I am new to Barclay, so thanks for sharing that one. Thanks OP.

From my credit reports that I've seen from chase, amex, bofa, regardless of their reporting dates, the amount reported is always the cc closing statement amount and not the reporting date amount. So if the cc is paid down before the statement close, why does the reporting date matter when you know the amount that is going to be reported?

+1 I've always had my statement balance as of statement closing date report as utilization for Chase, AmEx, Barclays and Citi.

Because LIFE happens...a meniscus tear in one's knee, an unexpected illness or home repair or taxes due in a week, and it's better to plan for 10% credit utilization with no interest on ONE card than trying to reach perfection when one can't attain it that ONE time.

Also, one may have a float card that functions as the middle guy. If it's due the 5th of the month, but it reports the 1st of the month, it would be wise to know that to manage the card better. It's part of the bigger picture.

No such thing as perfect MS. If there is, go have a conversation with DR. He is the PERFECT guru for one's finances, after all.

That's why it matters. If you know that a certain bank will report the statement amount, then you can proactively go ahead and pay down the credit card before the statement closes.

For some banks, that report as of a different date, you would need to pay down your balance in time for a date other than statement close. For example, among my cards, I wish I had paid down my US bank card before the first day of the calendar month (or the last day of the calendar month) because the amount on that date is what U.S. Bank reports to the credit bureaus.

Discover will report a balance different than the statement if there's been a change, but the report dates are always within a day or two of the statement. You can even ask them to do an off cycle report if you've paid the balance down.

NFCU seems to report the statement balance on the statement date.

Wells Fargo seems to report the statement balance on the statement date.

Barclaycard reports the statement balance a day or two after the statement date, regardless of newly posted charges in that additional day or two.

Someone edited the wiki to say the discovery card reports the balance as of the beginning of the month, which seems to conflict with info in this post. Can anyone else weigh in and sort this out? I've never had a Discover card, I have no personal info.

I'll edit the wiki with NFCU and WF info.

I think either someone had a statement date at the end of the month and concluded they report first of the month, or Discover has some variation in their reporting. I have 3 Discover cards and they don't all report as promptly as one another, but they all follow the rule as I described in the last post.

My Discover IT card reports on the statement date, with the balance of that statement.