Credit Card - CRA info needed

yoshiyella

Hello All,

I have a credit card with a high interest due to poor credit. As I want to rebuild my credit I have used it to pay monthly items and then clear the balance a week before the statement is due.

Anyway, last month I did that, received a statement showing £180 worth of debits and then my payment of £180 and a balance of £0. I have now checked my credit report it reports a balance of £180.
Is this correct? Or do they report whatever the balance is on a given day?

Thanks for any responses :beer:

MrSilk

I think they report the closing statement balance of the credit card, mine does anyway!

grumbler

MrSilk wrote: »

I think they report the closing statement balance of the credit card, mine does anyway!

And? In the OP's case the closing (statement) balance was £0.

I don't see how for reporting a closing balance is special and/or different from any other (current) balance. So, they are probably just reporting the current balance at some other fixed day of the month.

yoshiyella

grumbler wrote: »

And? In the OP's case the closing (statement) balance was £0.

I don't see how for reporting a closing balance is special and/or different from any other (current) balance. So, they are probably just reporting the current balance at some other fixed day of the month.

Only reason I thought it was special was for available credit etc?

MrSilk

grumbler wrote: »

And? In the OP's case the closing (statement) balance was £0.

I don't see how for reporting a closing balance is special and/or different from any other (current) balance. So, they are probably just reporting the current balance at some other fixed day of the month.

Ah, sorry. I'm not sure then. Personally I'd wait until the statement was produced to clear the card, partial or in full.

grumbler

yoshiyella wrote: »

Only reason I thought it was special was for available credit etc?

I don't see why.
The used credit normally reaches the maximum (and then the minimum) when the payment is due, not when the statement is produced.

zerog

Cards report the balance on a given day each month. To "rebuild" your credit report, you need to have some sort of balance showing.