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Quite confused with Amex revolver statement date...

Frequent Contributor

Quite confused with Amex revolver statement date...

Just wanted to share my confusion with the way of how (more specifically - when) Amex statements are cut.

Long story short - I needed to book a flight for ~$500 and it was evening on the 5th of June. My Amex says online: "Closing date: June 06".

OK, I thought, there's basically no way this transaction could post in 1 day, so my statement should be 0 this time.

So I booked the flight, then on the 7th (so technically AFTER the statement close date) I checked my Amex online and that particular transaction for ~$500 was still in Pending charges. Cool, I thought, it's already June 7th, statement close date was yesterday, so this won't end up in my statement...

 

And - bang - today I get an email from Amex - Your June statement is ready - with that ~$500 charge already in there and due date of July 1st.

How come?!

 

I know it's a kind of a delicate topic where you can't be 100% sure of things, but I got used to the fact, that if you buy something on the statement cut date or even 1-2 days before, it normally does not end up in this statement. Moreover, I also got used to the fact, that if today is already past the statement cut and you see certain charge in Pending, than there's no way it can appear in this statement. Apparently, I was wrong...

 

Not the end of the world, obviously, but specifically for "score boosting" purposes when one intentionally pays off everything before the statement cut that might be quite annoying...

In my wallet now: Amex PRG NPSL, Amex BCE $15k $17k (thanks to recent CLI), Chase Freedom 11k, CSP $6k, Chase United ME $5k, Citi Dividend $5.6k, Discover It $4.5k and a handful of other cards...
TU Dec 2013 - 752Sep 2013 - 764 - new all time maximum

Obsolete data &colonSmiley Wink Current TU - probably around ~750. I am now applying only for cards I can have fat sign-up bonuses on, repay them right away and close before next year. That's why BKLSBNKDELAWARE probably blacklisted me long ago, LOL...
Message 1 of 6
5 REPLIES
Frequent Contributor

Re: Quite confused with Amex revolver statement date...

I always thought pending status depended on the merchant and not the credit card company. Thus, whoever sold you the ticket was apparently very quick in closing the transaction with Amex.

 

I try to SD my cards a week before the statement date so that I don't have pending charges that might slip through on the closing date.

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Message 2 of 6
Valued Contributor

Re: Quite confused with Amex revolver statement date...


mikka1 wrote:

Just wanted to share my confusion with the way of how (more specifically - when) Amex statements are cut.

Long story short - I needed to book a flight for ~$500 and it was evening on the 5th of June. My Amex says online: "Closing date: June 06".

OK, I thought, there's basically no way this transaction could post in 1 day, so my statement should be 0 this time.

So I booked the flight, then on the 7th (so technically AFTER the statement close date) I checked my Amex online and that particular transaction for ~$500 was still in Pending charges. Cool, I thought, it's already June 7th, statement close date was yesterday, so this won't end up in my statement...

 

And - bang - today I get an email from Amex - Your June statement is ready - with that ~$500 charge already in there and due date of July 1st.

How come?!

 

I know it's a kind of a delicate topic where you can't be 100% sure of things, but I got used to the fact, that if you buy something on the statement cut date or even 1-2 days before, it normally does not end up in this statement. Moreover, I also got used to the fact, that if today is already past the statement cut and you see certain charge in Pending, than there's no way it can appear in this statement. Apparently, I was wrong...

 

Not the end of the world, obviously, but specifically for "score boosting" purposes when one intentionally pays off everything before the statement cut that might be quite annoying...


I've run in to the same problem. The explanation, as best I can tell, is very similar to your PAYMENT process. (This is just my opinion based on experiences, don't know this for fact)

 

When you hit the TRANSMIT key, the transaction goes into effect.  You've started the process.  Just as in PAYMENTS, that show that your PAYMENT posted to the account, even though the actual money involved doesn't move for 1-3 days, so too will PURCHASES. 

 

And this is not just with AMEX.  I got hit with a $5 charge on my BofA card under a similar sittuation.  It was the closing date and I thought it wouldn't show up, so I used my BofA card at a car wash.  BANG!  It hit my statement!  AND dropped my score 5 points for having a balance on a card that doesn't normally carry a balance!    I'll be more careful in the future with statement cuttoff awareness !Smiley Surprised

EX = 849 EQ = 850 TU = 850 as of 07/2017
Retired and Retiring Cards!
Message 3 of 6
Moderator Emerita

Re: Quite confused with Amex revolver statement date...

I've experienced this too with Amex and Discover. I just try to stay clear of using them for at least 2 days before and after- just in case.
Message 4 of 6
Mega Contributor

Re: Quite confused with Amex revolver statement date...


mikka1 wrote:

Just wanted to share my confusion with the way of how (more specifically - when) Amex statements are cut.

Long story short - I needed to book a flight for ~$500 and it was evening on the 5th of June. My Amex says online: "Closing date: June 06".

OK, I thought, there's basically no way this transaction could post in 1 day, so my statement should be 0 this time.

So I booked the flight, then on the 7th (so technically AFTER the statement close date) I checked my Amex online and that particular transaction for ~$500 was still in Pending charges. Cool, I thought, it's already June 7th, statement close date was yesterday, so this won't end up in my statement...

 

And - bang - today I get an email from Amex - Your June statement is ready - with that ~$500 charge already in there and due date of July 1st.

How come?!

 

I know it's a kind of a delicate topic where you can't be 100% sure of things, but I got used to the fact, that if you buy something on the statement cut date or even 1-2 days before, it normally does not end up in this statement. Moreover, I also got used to the fact, that if today is already past the statement cut and you see certain charge in Pending, than there's no way it can appear in this statement. Apparently, I was wrong...

 

Not the end of the world, obviously, but specifically for "score boosting" purposes when one intentionally pays off everything before the statement cut that might be quite annoying...


I usually do not chance it with AMEX, I'll charge on the statement cut day not before.




EQ FICO 548 3/3/16
Message 5 of 6
Highlighted
Blogger

Re: Quite confused with Amex revolver statement date...

This has happened to me with both Amex and Citi. Since those incidents I have made sure to pre-fund any purchases made 3 days or less before statement closing date if I want the card to report a zero balance.

Message 6 of 6