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What determines a statement closing date?

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Regular Contributor

What determines a statement closing date?

What determines the closing date for a credit card statement?  Is it 30 days after your approved for an account or pre-determined date that they use? 

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Message 1 of 8
7 REPLIES
Valued Contributor

Re: What determines a statement closing date?

Depends on the lender.  With big lenders, usually set when they send out card.  Not sure why big deal as you can change statement date.

               LIMITS IN CARD DESCRIPTIONS
Message 2 of 8
Valued Contributor

Re: What determines a statement closing date?


Crashem wrote:

Depends on the lender.  With big lenders, usually set when they send out card.  Not sure why big deal as you can change statement date.


hmm how is this done? my best buy and macy's are due on the 27th and the 21st. if i can move all my cards to around the 9th that would be alot of help.

 

and yes i had this probelm that i sent money out the day the statements came out (not knowing they did because it takes a day for them to accept payment) and 2 new accounts reported balances =/. 

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Message 3 of 8
Valued Contributor

Re: What determines a statement closing date?


OlegWasHere wrote:

Crashem wrote:

Depends on the lender.  With big lenders, usually set when they send out card.  Not sure why big deal as you can change statement date.


hmm how is this done? my best buy and macy's are due on the 27th and the 21st. if i can move all my cards to around the 9th that would be alot of help.

 

and yes i had this probelm that i sent money out the day the statements came out (not knowing they did because it takes a day for them to accept payment) and 2 new accounts reported balances =/. 


Just call them and ask to the change payment due date. Statment usually closes 4 to 6 days after payment due date.

 

Message 4 of 8
Regular Contributor

Re: What determines a statement closing date?

I've had a few of my statement closing dates changed including my car loan and AT&T. DirecTV doesn't do it.   

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Message 5 of 8
Valued Contributor

Re: What determines a statement closing date?


pozativelyliving wrote:

I've had a few of my statement closing dates changed including my car loan and AT&T. DirecTV doesn't do it.   


can't really consider AT&T and directv as they aren't credit products.  Most lending products let you change statement dates.  Notable exceptions include small cu who might have same statement date for everyone, and mortgages and installment loans.

               LIMITS IN CARD DESCRIPTIONS
Message 6 of 8
Regular Contributor

Re: What determines a statement closing date?


Crashem wrote:

pozativelyliving wrote:

I've had a few of my statement closing dates changed including my car loan and AT&T. DirecTV doesn't do it.   


can't really consider AT&T and directv as they aren't credit products.  Most lending products let you change statement dates.  Notable exceptions include small cu who might have same statement date for everyone, and mortgages and installment loans.


No, just pointing out my experience with them.

 

EX 638 (Lender 9/1) TA 650(Walmart 9/1) EQ 655 (FICO - 9/17)
Goal - 700 Club in '13!!!

My Wallet - Cap 1 - $300. Cap 1 - $750. Orchard - $950.
New as of 8/29 - Target - $3000. Barclay's - $2000. Merrick - $1000. Walmart $600. And as of 9/22 - JCP $200.
Message 7 of 8
Senior Contributor

Re: What determines a statement closing date?


pozativelyliving wrote:

Crashem wrote:

pozativelyliving wrote:

I've had a few of my statement closing dates changed including my car loan and AT&T. DirecTV doesn't do it.   


can't really consider AT&T and directv as they aren't credit products.  Most lending products let you change statement dates.  Notable exceptions include small cu who might have same statement date for everyone, and mortgages and installment loans.


No, just pointing out my experience with them.

 


Due dates can not vary (by Law). But statement dates can vay, but they must  meet the minimum days notice of amount due.

 

Message 8 of 8