Roger asked in Business & FinanceCredit · 10 years ago

credit card payment due date vs. closing date: a question?

My credit card's payment due date is on the 20th and I'm almost always paid in full on that date (and I don't charge anything for a week before that date to make certain of it). My closing date is on the 24th. If I make purchases between those two dates (in the four day period), will the charges be considered as an unpaid balance? Will I be penalized by having any balance before the closing date even though I was paid up by the due date?

Whew, hope that makes sense. Thanks for any help.

My card is a Chase Rewards card, so I like to charge most anything I buy (and pay up promptly).

4 Answers

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  • 10 years ago
    Favorite Answer

    Charges after the closing date show up on the next statement. The due date is about 20 -25 days after the closing date.

    Stop worrying about the closing date. Just pay the balance in full by the due date. You have an interest free grace period between the purchase date and the statement due date.

    Source(s): BD
    • ...Show all comments
    • Nora H4 years agoReport

      What's the difference between paying on the statement date or the due date once you've established the routine? It's still once a month. So it's good to make a habit of it. Just be sure it's after the slightly moving statement date, or it won't apply to the new month's minimum.

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  • 10 years ago

    Your account closes on the 24th of June, for example, and that Statement then gets mailed to you and is due on July 20th. There's no reason to worry about charges between any dates. You are overthinking this. What you are thinking of as a "four day period" is actually a 26-day period ... the time between the 24th of June, and the 20th of July. The four days between the due date on the 20th of July and the 24th of July have no relationship, so no need to avoid charges on those days.

    If you charged something on the 23rd or 24th of June, it might not get Posted in time to get on the June statement, and will instead be on the July statement. That would then be due on August 20th. Nice, eh?

    You can look at your account online after the 25th (the closing date is not always exactly the same), and see your statement. I always pay my Statement, or set up electronic payment, in full when it arrives or soon after. Always pay in full to avoid paying interest.

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  • yancy
    Lv 4
    3 years ago

    Your account closes on the twenty fourth of June, to illustrate, and that statement then receives mailed to you and is due on July twentieth. there's no reason to stress about expenditures between any dates. you're overthinking this. What you're thinking as a "4 day era" is honestly a 26-day era ... the time between the twenty fourth of June, and the twentieth of July. The 4 days between the due date on the twentieth of July and the twenty fourth of July don't have any relationship, so no favor to stay away from expenditures on presently. in case you charged some thing on the twenty third or twenty fourth of June, it ought to not get revealed in time to get on the June statement, and could as a replace be on the July statement. that ought to then be due on August twentieth. powerful, eh? you could look at your account on-line after the twenty fifth (the ultimate date isn't continuously the very similar), and observe your statement. I continuously pay my statement, or set up digital price, in complete at the same time as it arrives or quickly after. continuously pay in complete to stay away from paying interest.

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  • 10 years ago

    If the purchase posts (not when made) by the closing date it will be on the bill. If the bill is paid you're good for the whole month until the next bill is due.

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