Statement cut date

lindel · ‎04-23-2015

I just got off the phone with a representive from Capital One, I've only had my cards for about 6 weeks. So when I got my first statement my utilization was high because im using it like i would my debit card and paying multiple payments on it. Needless to say,i wasnt sure when the statement cut. So for my 2nd statement i wanted to make sure my utilization was below the 10% utilization. The Customer Service represented stated that my bill is due on the 25th of each month. but my statement cuts on the 28th of each month. Does that sound right? I thought it would cut before the due dates. I'm so confused

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KellyP25721 · ‎04-23-2015

Yes, that sounds right. The statement usually cuts a couple days after your due date. One of my Cap1 cards is due on the 4th and the statement cuts on the 7th. The other is due on the 28th and the startment cuts on the 3rd.

Starting Score: 573 (EX Faco) | Current Scores: EX(Fico) 674, EQ(Fico) 668, TU(Fico) 691

lord_kinbote · ‎04-23-2015

@lindel wrote:
I just got off the phone with a representive from Capital One, I've only had my cards for about 6 weeks. So when I got my first statement my utilization was high because im using it like i would my debit card and paying multiple payments on it. Needless to say,i wasnt sure when the statement cut. So for my 2nd statement i wanted to make sure my utilization was below the 10% utilization. The Customer Service represented stated that my bill is due on the 25th of each month. but my statement cuts on the 28th of each month. Does that sound right? I thought it would cut before the due dates. I'm so confused

That sounds exactly correct. In your case, the payment is due on the 25th which is for last months statement and the new statement cuts on the 28th. Make sense?

Anonymous · ‎04-23-2015

That is correct. The Statement always cuts a few days after the due date so they can reflect the payment status.

Anonymous · ‎04-23-2015

If you look at it that way, it doesn't make sense... but if you look at it as if your statement cuts 25 days before your (next) due date, it makes sense.

Anonymous · ‎04-23-2015

@lindel wrote:
I just got off the phone with a representive from Capital One, I've only had my cards for about 6 weeks. So when I got my first statement my utilization was high because im using it like i would my debit card and paying multiple payments on it. Needless to say,i wasnt sure when the statement cut. So for my 2nd statement i wanted to make sure my utilization was below the 10% utilization. The Customer Service represented stated that my bill is due on the 25th of each month. but my statement cuts on the 28th of each month. Does that sound right? I thought it would cut before the due dates. I'm so confused

I am in agreement with the other posters. I have a Cap1 one and my last statement cut on 4/16, due on 5/13.

Anonymous · ‎04-23-2015

Yes, that sounds right.

Anonymous · ‎04-23-2015

That sounds about right! And now you are aware so you can pay attention to when not to run up the card. One of my cards due date is April 22nd. Then on the 25th is closing date/statement cut. So what I do is make sure that by the 22nd I pay in full or leave a little bit (under 10%util), don't charge anything until the day after the statement cuts. Hope this makes sense!

Anonymous · ‎04-23-2015

Statement date and due date are fixed for every month, unless you change address or the due date.

^ true for cap1 only, confirmed by CSR.

MarineVietVet · ‎04-23-2015

@Anonymous wrote:
Statement date and due date are fixed for every month, unless you change address or the due date.

That is not my experience.

While my Discover reports on the 13th of every month without fail BoA and Citi will report anywhere from the 5th to the 8th of the month. It always varies with them.