How to read a credit bureau report
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I’m having a problem to read a credit bureau report. Although I pay my credit cards statements in full each month, my credit report shows balances on all of these accounts?
Is it an error? Does it hurt my Fico? Should I dispute it?
Re: reading a credit report
It is normal for this credit card accounts to show a balance even though you don’t carry credit from on month to another.
Each month, the credit card companies reports the outstanding balance appearing on your last statement to the credit bureaus. This balance will appear on your credit report regardless of whether you pay your balance in full each month or just partially.
Your new charges made since the last payment will result in a new statement that will be reported to the credit bureau the following month and will appear as the balance for that month.
A zero balance will appear on your credit report only after two or more months with no additional charges and no carried balance (i.e. on cards that you don not regularly use).
Hope this helps
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