There are often reasons for a churner to control how balances report on a credit report, for example: utilization can directly affect your ability to get cards and loans with banks and credit unions. Aside from the obvious method of paying balances right before statement close, there are a few other hacks for controlling what’s reported:
- Chase: Anytime you pay a Chase card down to a $0 balance, it’ll report to the credit reporting agencies the next banking day
- American Express: You can call the number on the back of your card and ask a representative to report your balance mid-cycle, it typically reports two banking days later
- US Bank: They’ll report your balance on the first banking day of every month regardless of statement close date
- Citi: Because #citigonnaciti, make a request via fax (ask your parents if you don’t know) at (866) 713-5028, and they’ll report two to three banking days later
- Synchrony: Cause a fraud alert on your account, they’ll report your balance the next banking day, and no, this isn’t MEAB sarcasm
Happy Thursday friends!
Citi’s credit reporting department IT server room.