Will payments made on actual statement closing date be reflected in the month's reporting?

[Rguitr2]

Hello all. I got caught napping and 3 of my cards have a statement close date of today. I wanted to make payments on all 3 so the balances were reported this month because I have a couple cards that wil be determiniing my APR this month  (balance transfer Amex and IT card) and wanted to boost score high as possible.  What I'm unsure of is if the  deadline was yesterday or today. Most times I read "by the statment close date" but not sure if that means you can still pay on the the statement close date or if it had to be yesterday (day before). Thanks in advance for any guidance. 

[Anonymous]

I would imagine this depends on the company's policy.  All of my accounts state payments made on today's date prior to X:XXpm will be applied the same day.  But that doesn't mean all cards follow the same.

[Rguitr2]

Thank you for the reply but I'm not sure this answers my question. My question is geared towards whether the payment made on the closing date reflect on this statement (reporting to Credit Bureaus) or next. 

[Anonymous]

That is exactly what I was responding to.  You would need to check your cards policy.  With my Capital One...my statement cuts on the 2nd of each month.  The payment website says if you pay by X:XXpm your payment is applied that day, so, yes, it would be on that statement because my statement closes at the end of the day.  This changes if it is paid on a weekend or late in the day.

But as I said, I would check with your card providers as I am sure there are many different policies between companies.  If you don't want to call or check around the website, pay it and keep your fingers crossed.  If it goes towrds next statement then you will already have had made your payment for the next due date.

[Rguitr2]

Ok, thank you. It makes sense to me know what you were saying now. 

[Rguitr2]

Just a follow up you were exactly right. Chase 24-48 hrs after payment but CitiCard and Capital One post same day if before 5pm est. 

[takeshi74]

Keep in mind that all sorts of polciies can vary from creditor to creditor.  Don't assume them all to be the same.  Verify with your creditors.

[Anomalous]

FYI. I discovered that Barclay will post your payment on the same day as long as it's before 7pm EST even on statement closing day. I made an extra payment and it posted for that day and is reflected on that statement. I wasn't sure that it would. 

[RobertEG]

The Fair Credit Billing Act (FCBA) requires credit card companies to send a billing statment at least 14 days prior to the billing due date, and that payments received by the billing due date must be posted on that date unless posting on a later date would incur no fees on the part of the consumer.