Cycle Reporting
Question: When is cycle reporting appropriate, versus month-end
reporting?
Answer: Cycle reporting is generally appropriate when a large volume of revolving
accounts is being reported and the data furnisher has multiple billing cycles.
Reporting would take place at the end of each billing cycle, resulting in more
accurate and current reporting of account statuses.
Questions: How are delinquencies reported when a cycle reporter submits
data at the end of the month?
Answer: A cycle reporter who submits data at the end of the month should report
the account status as of the end of the billing cycle for the account being reported,
and not the status of the account on the date the media is created. All account
fields, such as Current Balance, Amount Past Due and Date of Last Payment
should be reflected as of the end of the billing cycle.
Example: The consumer who is 30 days delinquent at the end of the billing cycle
should be reported as an Account Status Code 71, even though a payment is
received between the end of the billing cycle and the date the media is created.
reporting?
Answer: Cycle reporting is generally appropriate when a large volume of revolving
accounts is being reported and the data furnisher has multiple billing cycles.
Reporting would take place at the end of each billing cycle, resulting in more
accurate and current reporting of account statuses.
Questions: How are delinquencies reported when a cycle reporter submits
data at the end of the month?
Answer: A cycle reporter who submits data at the end of the month should report
the account status as of the end of the billing cycle for the account being reported,
and not the status of the account on the date the media is created. All account
fields, such as Current Balance, Amount Past Due and Date of Last Payment
should be reflected as of the end of the billing cycle.
Example: The consumer who is 30 days delinquent at the end of the billing cycle
should be reported as an Account Status Code 71, even though a payment is
received between the end of the billing cycle and the date the media is created.