Skip to main content

Credit Card Statement Date

Most of us never even think about our Credit Card Statement date.  However it can make a big difference in the timing of how you pay your bills. 

Credit Card Statement Date

This can be an important date depending on when you get paid or when you normally charge items. 

Normally the statement date is 30 days after the day the credit card company issued the card.  So this can be virtually any day of the month except the 29,30,31 as all months don’t have those days.  


Where to find Your Credit Card Statement Date

This is the last day that charges are included on your bill for the last month. At the top of your statement it will state the time period that this bill includes.


Changing the Statement Date

I changed my statement date to give me the longest float and grace period to pay my Credit Card. You can change your statement date with most credit card issuers.  It will usually take two months and cannot be done more than once a year.   It is very easy, call your credit card issuer and request a different statement date.


Why I Changed my Statement Date

In the business I ran for many years we had several bills we could pay with a credit card.  These bills were always due on the 10th of the month.  I paid all of these with an airline card so I could collect the points a couple of days before the 10th of the month.  


I paid all of these bills between the 7th and the 10th of the month with my credit card.  I changed the statement date on my airline miles card to the 5th of the month.  All my monthly bills were then due the 5th of the following month and I also had the grace period.


Getting Both Float and Grace Period on my Bills

This allowed me to charge my big bills on this card just before the 10th and get float until the 5th of the following month and grace period until about the 26th of the following month. I normally paid my credit cards ten days after the statement date.

Regular Large Credit Card Charges

If you have regular monthly large charges on your credit card set the statement date to a few days before those payments are made to give you the longest float and grace period.  It is critical that you pay this card in full every month or you do not get float or a grace period.

Avoid Paying Interest on your Credit Card

Everything you charge on a card that was not paid in full last month will be charged interest starting the date of the transaction.  This is true even if you just left a $10 unpaid balance.  

Labels:

Comments

Post a Comment

Popular posts from this blog

Dealing with Customer Service Successfully

Always Be Nice to Customer Service Customer Service Agents are able to help you if you're nice to them and hurt you if you're not. I was never taught how to deal with Customer Service.  However my Mother always taught me to be a Gentleman. Customer Service on the Phone I am always extremely nice and courteous to customer service. They have a very tough job because so many people yell at them and treat them horribly.  So many customers, especially of banks or credit cards, make a mistake but won't accept responsibility for their mistake. The customers want to blame the bank for the missed payment.  My dog ate my statement so I didn’t pay my bill. My rule of thumb is always be extremely nice to customer service. They're just doing their job and it is a tough one. They can certainly help if you are nice to them. Customer Service Tracks You Many Customer Service agents are able to make notes on your account. If you are particularly mean during an interaction they will
Post a Comment
Read more

Credit Card Fees and How to Avoid Them

There are Many Assorted Credit Card Fees.  I work hard to avoid the fees.  I work hard for my money I don't like to waste it. Annual fee - this is a fee charged by some credit cards once a year just for having the card. Most Airline cards and many Premium cards will have an $80 to $500 annual fee. I have a United Airlines card and a premium Chase card that I pay an annual fee on. I have tried to get out of paying the fees on these by calling and asking with no success.  The only way I found would be to cancel the card. Interest rate - this is the percentage charged on the balance of the credit card that is not paid off in full each month. This is not an issue with me as I pay off my cards in full every month.   If I do need short-term money I use money from my HELOC.   Ask for a Zero Percent Offer If you are needing money and have a good credit history you may call your credit card and ask them if they have any Zero Percent offers for this card.  They will charge you 3% upfro
Post a Comment
Read more

Navigating Your Credit Questions

This page links to all of the Articles in the Blog. Credit Basics What is Credit?   What is difference between your Credit Report, Fico Score, and your Credit Karma Score? Why is your Credit Score Important? How are Credit Scores Calculated? Where to get your Credit Report/Score for Free Why are Credit Cards Important? Debit Card Advantages and Disadvantages Debit Card Debacle Debit Card Fees The Credit Card Minimum Payment Trap Student Loans and Debt Building Credit Building Credit with No Credit History What is a Secured Credit Card? Secure Credit card Special Note What is a Credit Builder Loan? What is an Authorized User? How do Airline Miles work?    How to choose a Bank or Credit Union Managing your Credit No Grace Period or Float for You Managing your Credit Cards with Auto pay Credit Card Cash Advances Zero Percent Credit Card Offers The Tenth/Twenty-fifth Credit Card Game OOPS I missed a Payment How the Minimum Credit Card Payment will Break You Credit Card Statement Dates Neve
Post a Comment
Read more