Chase will typically report to credit bureaus between 3 to 5 days after the payment due date specified on your credit card statement.
The date on which Chase will report to the credit bureaus can be referred to by any of the following terms:
- report date
- closing date
- statement date
Discussions around credit card payments typically interchange between these terms.
The statement date occurs when the current billing cycle ends, after which the new billing cycle commences the following day. A billing cycle which usually occurs every month.
Chase is also known to report off-cycle, typically when the balance is paid in full. Otherwise, you may be able to contact them and submit a request to report on a specific date in addition to the monthly report cycles.
Also, you may be able to contact Chase and make a request to change the due date in order to trigger a desired change in report date.
Knowing when Chase will report to the credit bureaus may prove useful in helping improve your credit report and therefore your credit score as well.
Will Chase report to the credit bureaus on the first month?
If your account has just been opened, Chase will typically not report on your first closing statement.
They will, however, begin reporting from the second statement and thereafter.
Will the credit bureau update my credit report immediately?
Once Chase reports your credit card account to the bureaus, each bureau will typically not update your credit report immediately.
Sometimes a credit bureau will expect to take a few days before they update your report.
In addition, each credit bureau will update their records independently of each other, so your credit report from each one will not necessarily contain the same information at any given time.
Does Chase report to the credit bureaus on weekends?
Chase does not explicitly disclose whether they report to the credit bureaus on weekends, however, they are typically not known to.
They will report to the credit bureaus 3 to 5 days after your credit card payment is due.
So if your credit card payment due date falls on a Tuesday, the fifth day would be Sunday, which would mean that you would have to wait until Monday before Chase sends their report.
Note however that once the credit bureaus receive the information from Chase, they usually update your credit report any day of the week.
This does not happen immediately, as it varies from bureau to bureau.
Chase will post the payment before midnight on the same day if funds are received by 8pm (Eastern) Monday to Friday. If payment is made before 8pm Saturday, it will be posted Sunday.
Otherwise anything sent after 8pm Monday to Thursday will be posted the following day, except for Friday, in which case it will be posted on Sunday.
Remember due date is when you want to pay the minimum amount. Any payment after the due date or less than the minimum will most likely incur to avoid late fees or delinquencies.
Chase however will reverse the late fees if payment is made between 8pm and midnight on the due date.
Setting up scheduled payments may be something to consider. Remember some cards have very high interest rates, so it’s adamant that you pay them on time to avoid interest compounding month over month.
Is it beneficial to know when Chase will report to credit bureaus?
Having knowledge of when Chase will report to bureaus can be beneficial if you want a particular credit utilization ratio to be reported.
In particular, it is common for consumers to pay their credit card balance down to zero (or to an amount that minimizes their utilization rate) at the end of every billing cycle.
This demonstrates that they can reliably service their debt, and in turn it will result in an improvement to their credit score.
This also has the added benefit of decreasing interest payments in the long run.
Most consumers may also have multiple credit cards with Chase and perhaps other banks which they exploit by using the AZEO (All Zero Except One) method in another attempt to improve their credit score.
This method involves keeping one credit card between 1% to 8% credit utilization and all others at zero balance.
Of course throughout any billing cycle, you may well be using all of your credit cards, which means your balance will constantly be changing.
The theory behind the AZEO method is to reduce the balance on all credit cards to zero except for one, before the end of the statement due date.
Doing so has the likely effect of improving one’s credit score.
If you intend to use your Chase credit card in such a way that it reports a zero balance for this purpose, remember that Chase will automatically report once in it paid in full, regardless of the monthly billing cycle.
Note that keeping your Chase credit card at zero balance with no activity for the statement period will not trigger a report at the end of the billing cycle.
This is useful to know if you were also intending on building a good credit history by demonstrating on-time payments.
So it is imperative that you coordinate with the report date of your other credit cards, in order to take full advantage of the AZEO method.
Consumers usually prefer to implement the AZEO method just before applying for another credit card or loan, in order to raise their credit score and decrease their likelihood of receiving adverse reasons for denial of credit.
Being able to potentially influence your credit score in this way is useful particularly if you have some control over it, unlike other other aspects where control is absent, such as any issues regarding the verification of your identity.
If you have several credit cards with Chase or other banks, knowing when each one will report to the credit bureaus will allow you to coordinate your payments depending on your desired outcome.
If you are intending to apply for more credit cards, a mortgage or personal loans from Chase in the future, it is vital that you maintain a good credit score with the bureaus from which they pull.
What happens if you use your Chase credit card after due date and before reporting date?
If you use your Chase credit card after the due date and before the reporting date, the creditor will report your remaining balance as at the due date.
For example, if your payment is due on the 12th, and you pay part of your balance on the 11th, you should be able to use your card on the 13th, without affecting what the creditor reports to the bureaus.
For the purposes of the AZEO method, if you intend to use your Chase credit card as the card with a small utilization rate, ensure you always have a small charge posted before paying the balance in full.
This ensures that Chase will report the remaining positive balance at the statement date.
In other words, whatever balance you have at the statement closing date, is what will be reported to the credit bureaus.