Ready to pay off First Premier & Orchard

ABattle · ‎02-13-2011

DH & I are finally in the position to pay off these two cards, but I want to make sure that we do it the right way. Can anyone advise when I should make the last payment & call to close the account

1. First Premier

Statement closes the 19th or 20th of every month & the payment is due the 16th of every month.

2. First Premier

Statement closes 21st or 22nd of every month & the payment is due the 18th of every month.

3. Orchard

Statement closed 22nd or 23rd of every month & the payment is due the 17th of every month.

My question is when do you pay. I'm assuming I should pay before the statement cuts for this month? And then when do I cancel?

Wolf3 · ‎02-13-2011

@ABattle wrote:
DH & I are finally in the position to pay off these two cards, but I want to make sure that we do it the right way. Can anyone advise when I should make the last payment & call to close the account

1. First Premier
Statement closes the 19th or 20th of every month & the payment is due the 16th of every month.

2. First Premier
Statement closes 21st or 22nd of every month & the payment is due the 18th of every month.

3. Orchard
Statement closed 22nd or 23rd of every month & the payment is due the 17th of every month.

My question is when do you pay. I'm assuming I should pay before the statement cuts for this month? And then when do I cancel?

I suggest you pay before the due date. Then cancel after the statement closes.

ABattle · ‎02-13-2011

Thanks for replying

So pay before the payment due date but wait until after the statement closes to cancel? My issue is that the payments for the cards are due this moenth a few days before I will be ready to pay them off. I'm waiting on my taxes which I won't have until this Friday, so I already have made the payments for this month as far as the minimum. So should I just make a second payment this month & then close after the statement cuts.

Wolf3 · ‎02-13-2011

@ABattle wrote:
Thanks for replying

So pay before the payment due date but wait until after the statement closes to cancel? My issue is that the payments for the cards are due this moenth a few days before I will be ready to pay them off. I'm waiting on my taxes which I won't have until this Friday, so I already have made the payments for this month as far as the minimum. So should I just make a second payment this month & then close after the statement cuts.

Yes, pay it when you have it. There will likely be a little interest to pay after statement closes. So pay that right after the statement closes and then close the account.