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Frequent Contributor
scientifics
Posts: 411
Registered: ‎05-01-2010
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Charges Made on Closing Date

If I make charges to my card on my closing date, will they be on the statement just closing or on the following statement?

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JM-AM
Posts: 3,302
Registered: ‎06-09-2010
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Re: Charges Made on Closing Date


scientifics wrote:

If I make charges to my card on my closing date, will they be on the statement just closing or on the following statement?


That depends on who the card is with and how they post your transactions. Majority would only be a pending charge and would not show up on the closing date until funds are withdrawn for your purchase. 

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Hopelives2
Posts: 199
Registered: ‎04-30-2011
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Re: Charges Made on Closing Date

Not sure what you mean by closing date but here's my thoughts/vantage point with my own cards:

 

If I charge $1 on my statement date, my statement will show the $1 as will my CR.

 

I always wait until the day after my statement date (the 10th) to charge anything.

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Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
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Re: Charges Made on Closing Date


scientifics wrote:

If I make charges to my card on my closing date, will they be on the statement just closing or on the following statement?


A lot of that depends on the merchant, too.  Some merchants close out their cc batch transactions a day or more after the charges were made.  It depends on their internal policy, time of day you made the purchase, their particular bank (the merchant's, that is) and your card company.

 

For instance, a local market I frequent won't close out their credit card transactions without one particular family member being there to do it.  It has sometimes taken over two weeks for a charge I've made there to hit my credit card.

 

In other instances, the money counting and cc batch transactions are all taken care of by a manager, who may not arrive to do that until the next morning. 

 

So, my absolutely, positively correct answer is:  it's a crapshoot.  Sometimes they'll be on this statement, and sometimes they won't.  :smileyhappy:

 

 

 

Regular Contributor
700orbust
Posts: 174
Registered: ‎11-20-2008
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Re: Charges Made on Closing Date

Only if they post on the closing date. A majority of charges take a couple days to settle. You could have zero available credit on your statement closing date, but if it doesn't post until the day after, it won't show.
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Valued Member
SAIDFICOMUSTBEASCAMLOL
Posts: 85
Registered: ‎12-01-2007
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Re: Charges Made on Closing Date .

[ Edited ]

I have a related question slightly different.

 

My closing date was on the 31st. I had a ZERO balance. The next day the 1st, there was still a zero balance lets say until I purchased something mid morning. Is the credit card company wrong for reporting the balance credited after the closing date?

 

I'm being told they report on the 1st. I told them I could careless when they report, they need to report the actual information ( what's on the new statemen)... how could activities for august ( what would be the new billing cycle)  already be reported to the CBs? LOL I feel like someone is trying to be mean at the CU because they see I always PAY OFF and reuse after the closing statement. In other words...my credit report never has a balance tho I used my card like 50 times during the billing cycle...it just shows HIGH BALANCE. 

 

Here is the kicker...the amount they reported was not even the correct amount the 1st...yet they claim they reported actually. Someone is being an a** and messing up big time. I'm willing to take the lost (meaning have a balance on my CR but they need to at least report the amount they claim they are reporting and not more) only because its my highest credit line > 10k. I just made sure I paid off EVERY other card I have. 

 

Am I wrong here? I've done the same with AMEX in the past... That's how I learned the importance of "statement closing dates."


Out of respect to the OP please don't edit the title of the thread. Let that be at the option of the OP only. If you want to ask a different question please start a new thread.

 

Thanks- MarineVietVet, myFICO moderator

Valued Contributor
Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
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Re: Charges Made on Closing Date .

[ Edited ]

Well, I can't answer about the amount reported.  But, if they are telling you that they report the balance of the account as of the first of the month, rather than the statement closing date of the 31st, then it is what it is.

 

Just don't use your card for a few days before the statement/reporting date, and maybe not for a few days after, either.  As long as there's no residual interest charges on that account from carrying over a balance, you'll be OK.

 

Don't sweat the small stuff!  :smileyhappy:  The "zero balance" thing for a month doesn't mean much in the long term.  And short term, if it hurts at all having a small balance, it's all happy and healthy again in a month.  

Valued Member
SAIDFICOMUSTBEASCAMLOL
Posts: 85
Registered: ‎12-01-2007
0

Re: Charges Made on Closing Date .

[ Edited ]

Logically you are right...doesn't make sense to have a stroke over any of this. But just as I thought...I did some reasearch. If what the CC company was true, none of my balances would have been what they were. I've always made new charges as of the 1st and the new balance never reported to the CB, the statement balance did. I went ALL the way back to March 2011 and I  see I had a habit of doing the same thing.

 

Also, I failed to mentioned, they went in and switch the dates on a transaction on in which made my balance 2k lower than what they are reporting. The #s are off. Nonetheless, I'm just mad because I have a 10k+ balance sitting on my credit report. I be damned if my other creditors close me because of this. I see where I get AR every month!!! That's what I'm trying to avoid my other accounts closing  especially when I have more than enough $ to pay it off in full :-(

 

I need an excessive amount of personal credit because of the credit crunch on the business side, its esssential to running consultancy and other businesses. 

 

In the end, I told the rep.. okay whatever to her first of the month crap...just reminded her that even if thats the case they still didnt report the amount that she stated in my dispute they reported a higher amount. ( Yup that's proof that they are lying... but like we both agree...nothing to be stressed out over. Now I just know they are a shady CU and how to play their game.) 

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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Charges Made on Closing Date .

[ Edited ]

Was it a Discover card, by any chance? (Sorry if it's in the thread and I missed it.) Discover gets a wild hair every now and then and reports at a different time in the cycle, and the next month, they go back to normal. Also, their CSR's were completely and utterly convinced that they update every Friday, no matter what. Very nice people, though.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
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john398
Posts: 3,526
Registered: ‎01-19-2009
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Re: Charges Made on Closing Date .

[ Edited ]

Well HSBC seems to report the balance on the last day of the month rather than the statement date so each creditor can make up there own rulesRe


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