Which Credit Card balance figure do lenders submit to the Credit File

maas

I have as TSB credit card which I pay off in full every month as soon as I receive the bill.

Just looking at my noddle credit file, the figure they use for the "Balance" for each month is neither my statement balance or the month in question.

For example on Noddle it says for last 2 months
Aug £232
Sep £308

which is neither my statement bill or the accumulated balance during the month. So where does TSB get the total from for the monthly credit file submission.

YorkshireBoy

Could be the last Sunday in the month.

Or the last working day of the month.

Or something else.

But, it shouldn't be too hard to look back through your transaction lists/statements and see what dates you had your £232 & £308 balances?

hieveryone

I've never thought about this I always pay mines off in full and thought I was doing my credit file the world of good

Will check this out, thank you!

maas

hieveryone wrote: »

I've never thought about this I always pay mines off in full and thought I was doing my credit file the world of good

Will check this out, thank you!

My last 3 CC bills have been over £400 (with the next one being £1000) but on my credit file I see pittance balances around £100-300 mark.

I think I've worked it out to the 17-19th of the month. So my spend after that is not put on my file as I pay it straight away when the bill comes in on 10th.

So for example;

11/08 £100 Balance
15/08 £200 Balance
17/08 £200 send to credit file for July
20/08 £500 Balance
25/08 £1000 Balance
05/09 £1500 Balance
10/09 £1500 Statement Date
11/09 £1500 Paid
12/09 £100 new balance
15/09 £200
17/09 £200 send to credit file for August

So the fact I've rushed to pay £1500 like a good Samaritan, it doesn't show on my credit file as a balance borrowed and paid.

I've been doing this for months... time to pay it after the 20th.

hieveryone

I'm not sure I'm smart enough to work this out! ha!

maas

I notice on Noddle there is 3 records next to my CC.

Balance
Statement Balance
Amount Paid

The Statement Balance and Amount Paid are accurate to the CC bills, but Balance is a snapshot taken 17-19th.

maas

hieveryone wrote: »

I'm not sure I'm smart enough to work this out! ha!

Try to find a month with a handful of transactions (check Noddle history). I had to import 3 months into excel to work it out. TSB doesn't show a rolling balance next to each transaction.

hieveryone

maas wrote: »

Try to find a month with a handful of transactions (check Noddle history). I had to import 3 months into excel to work it out. TSB doesn't show a rolling balance next to each transaction.

Mines says things like 'statement balance - £300, payment amount - £500' ?

Too tired to try figure it out right now, but thank you for bringing it to my attention :money: