Author Topic: Misc Credit Card Questions  (Read 1691043 times)

Offline 1najol1

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Re: Misc Credit Card Questions
« Reply #11020 on: November 25, 2023, 09:27:33 PM »
Can I make cc companies report updated payments to the credit bureaus even in the middle of a cycle because I made a payment on the day that the statement was generating and it didn't report the payment on the statement and I need to have my score raised
This is email I received
We're reaching out with the updated account balance on your American Expressģ Card ending in

 

Here's what we found

 

While we saw that you made a payment of $4,746.16 on 11/23/2023 during the previous billing period, this payment was not reflected on your billing statement with a 11/23/2023 closing date.

 

Here's what you need to know

 

Your 11/23/2023 payment has retroactively been applied to that billing period. As of today, 11/24/2023, your outstanding payment obligation is $120.42. You can log in to your account to check the latest amount based on any account activity since then.
You can call AMEX credit bureau department 1800 874 2717, ask them to report your balance mid cycle. And should be updated within 5 days.

Offline doovid d

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Re: Misc Credit Card Questions
« Reply #11021 on: November 25, 2023, 09:33:01 PM »
Does Chase do the same thing if I request?

Offline imayid2

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Re: Misc Credit Card Questions
« Reply #11022 on: November 25, 2023, 09:40:28 PM »
When closing a cc is it recommended to transfer the line of credit if you donít particularly need it, or can too much credit line can be detrimental to future openings?

Offline ckmk47

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Re: Misc Credit Card Questions
« Reply #11023 on: November 26, 2023, 12:15:04 AM »
When closing a cc is it recommended to transfer the line of credit if you donít particularly need it, or can too much credit line can be detrimental to future openings?
You move the credit line because a reduction in credit line will ding your credit score temporarily.
But financial institutions have an upper limit to the amount of credit they think you can carry.  So if you have too much available credit, even if you're not using it, they won't extend more credit - making it harder to open new cards. 
One way around that is to call reconsideration and ask to move existing credit onto the new card you want to open.
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Offline Shaya E

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Re: Misc Credit Card Questions
« Reply #11024 on: November 26, 2023, 12:22:03 AM »
Does Chase do the same thing if I request?
Chase automatically reports your balance again after you pay it down to 0. No need to call.

Offline HoKo

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Re: Misc Credit Card Questions
« Reply #11025 on: November 26, 2023, 01:47:06 PM »
You move the credit line because a reduction in credit line will ding your credit score temporarily.

That's not necessarily true. The reduction in credit line will impact your total utilization ratio (i.e. how much total credit are you using divided by the credit available to you), but if you have lots of credit cards (as many of us do) then closing one card may not move the needle much.

For example, lets say my credit card balance each month is around $10K...but I have $350K in total credit card credit lines available to me. If I close one card and now have $335K available, that really doesn't make a difference in my utilization ratio.

Offline Gvann

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Re: Misc Credit Card Questions
« Reply #11026 on: Yesterday at 09:44:30 AM »
are there any cards that product change into a hyatt card?