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Question about statement and due date

Valued Contributor

Question about statement and due date

So I got my first CC bill in with a  due date of October 28th. As far as the statement "drop" date, that would be the date that I received said statement, right? I can pay the bill anytime between I got the statement and it's due date, right?

 

Scores: about 700 across the board
Total CL: $275k
Message 1 of 5
4 REPLIES
Moderator Emeritus

Re: Question about statement and due date

I usually try to pay a few days early just to make sure the payment posts.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 5
Valued Contributor

Re: Question about statement and due date

I try to pay a few days before the statement cuts so I have less or nothing reporting to the CRs...but I guess that's what you do when every point counts.

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
Message 3 of 5
Community Leader
Legendary Contributor

Re: Question about statement and due date

If you dont pay by the statement due date, then the account is late under your account agreement.

However, that does not make it a reportable 30-late to the CRAs,

For credit reporting purposes, reportable 30-lates are based on being more than 30 days past the billing due date, not the billing date.

You thus have a 30-day window within which a delinquent account can be paid without reporting of a late to the CRA.

Message 4 of 5
Highlighted
Established Member

Re: Question about statement and due date

I had a question about this before as well. you can pay any time between the statement date and the due date. But what you want to do is pay down as much as possible before the next statement is generated. For example, my due date for October was the 15th. so I paid the minimum 25 due. However, in order to show low utilization on my CRA, I paid another 50 before the next statement came out on October 19th. So that way, the CC only shows a low amount of usage...

Starting Myfico Scores: 6/16
EX 544
EQ 548
TU 577



Message 5 of 5