Bizwiz's statement in another thread raises the question as to the data reported to the CRs and the cut-off dates that are used for individual accounts. Does anyone have knowledge as to the data set that is actually reported? Is it based on the monthly closing date for each specific account or is it based on the balance each account as of a single, common date certain? In the former instance, the OC would have to aggregate the the closing balances for each account as the closing occurs and then submit them at the end of the cycle. In the latter, they need only to harvest all of the balances at the "date certain" and pass that on as their monthly report. Aggregating the balances is a typical bureaucratic pain to implement. The harvesting of balances is a clean and efficient. Bureaucracies more frequently choose the simpler, cheaper, easier method when confronted with a PITA. What method do the credit card companies actually use?
