As the title suggests, I have autopay setup for my credit card to pay the statement balance. Despite this, they’re being marked as Poor and I don’t quite understand why 🙁
Can someone explain why or suggest a way to pay so it’s not marked as poor?
Edit: Apologies for the lack of detail. In the app, Chase offers a free Credit score option where it breaks down factors that contribute to your score. In the section for payment history, I have 4+ payments marked as Poor, 2-3 for fair, and 1 as Good. Ive never missed a payment before – I’ve had it on autopay for the full statement since I had this card (as far as I am aware)
Credit card on autopay but Chase marks payments as Poor
byu/ArcticAxolotls inpersonalfinance
Posted by ArcticAxolotls
9 Comments
What do you mean it’s marked as poor?
Have you missed payments in the past?
> they’re being marked as Poor
“Who” is doing the marking?
Consider sharing some screenshots of what you’re looking at. Redact personally identifying information. Many folks use Imgur to share pictures.
The credit reports included with your credit card are not comprehensive. They are usually an approximation based on major credit factors. If you missed payment in the past I would expect them to show poor for at least a year or two, possibly longer. That’s not just your chase account it includes all your credit accounts.
You need to provide more details.
Who is marking it as poor? Is the card actually getting paid on time?
This is likely due to timing. The timing of your card payment does not align with the timing the data is pulled to assess your credit usage. So I would just modify your payment date by pulling it in 3-5 days and then give yourself a few months to see if that fixes the problem. This happened to me and I actually got them to change my cycle dates to facilitate it more cleanly.
What and where is the data marked poor? Are you looking at your credit rating maybe?
Move your auto pay up by about five days. If you pay it the day it’s due, it can take a few days to process and then it reads as a late payment on some scales
If you are sure you have always paid on time, then it sounds like there are other derogatory marks on your credit report.
Pull a copy of your credit report and make sure everything on there is accurate.
When is your auto pay date and when is your due date?
Does the bank account you’re drawing from have sufficient funds to cover the statement balance on the auto pay date?
Have you called Chase to ask for clarification on any of this?