topic Re: New chase card and first statement cut in Credit Cards

New chase card and first statement cut

red259 — Sun, 14 Feb 2016 01:39:52 GMT

I have a new chase card that I got a few weeks ago. When I log in online it says my next payment is due 3/12. I have not had the first statement cut. I have some large purchses I need to make, but I don't want to make them and then have chase cut a statement and require me to pay everything on 3/12. If I make the purchases will the first statement not cut until after the 3/12 due date?

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 01:44:09 GMT

@red259 wrote:
I have a new chase card that I got a few weeks ago. When I log in online it says my next payment is due 3/12. I have not had the first statement cut. I have some large purchses I need to make, but I don't want to make them and then have chase cut a statement and require me to pay everything on 3/12. If I make the purchases will the first statement not cut until after the 3/12 due date?

The purchases wont appear until the statement is cut.

Re: New chase card and first statement cut

red259 — Sun, 14 Feb 2016 01:47:04 GMT

@Anonymous wrote:
@red259 wrote:
I have a new chase card that I got a few weeks ago. When I log in online it says my next payment is due 3/12. I have not had the first statement cut. I have some large purchses I need to make, but I don't want to make them and then have chase cut a statement and require me to pay everything on 3/12. If I make the purchases will the first statement not cut until after the 3/12 due date?
The purchases wont appear until the statement is cut.

Ok, but that isn't really my question. My concern is will Chase cut a statement before the 3/12 payment due date that is currently listed on my account or will the first statement not cut until after that date?

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 01:48:54 GMT

@red259 wrote:
@Anonymous wrote:
@red259 wrote:
I have a new chase card that I got a few weeks ago. When I log in online it says my next payment is due 3/12. I have not had the first statement cut. I have some large purchses I need to make, but I don't want to make them and then have chase cut a statement and require me to pay everything on 3/12. If I make the purchases will the first statement not cut until after the 3/12 due date?
The purchases wont appear until the statement is cut.
Ok, but that isn't really my question. My concern is will Chase cut a statement before the 3/12 payment due date that is currently listed on my account or will the first statement not cut until after that date?

No, a staement wont come out before then. It will come out on March 15th

Re: New chase card and first statement cut

red259 — Sun, 14 Feb 2016 01:53:10 GMT

@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
@red259 wrote:
I have a new chase card that I got a few weeks ago. When I log in online it says my next payment is due 3/12. I have not had the first statement cut. I have some large purchses I need to make, but I don't want to make them and then have chase cut a statement and require me to pay everything on 3/12. If I make the purchases will the first statement not cut until after the 3/12 due date?
The purchases wont appear until the statement is cut.
Ok, but that isn't really my question. My concern is will Chase cut a statement before the 3/12 payment due date that is currently listed on my account or will the first statement not cut until after that date?
No, a staement wont come out before then. It will come out on March 15th

Alright, thank you that is exactly what I needed to know.

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 13:17:01 GMT

3/12 is a ways away. I don't recall ever seeing a due date at a month out. I'd give it a week to see if a statement cuts and then make your purchases.

Re: New chase card and first statement cut

redpat — Sun, 14 Feb 2016 14:03:32 GMT

My new Ink+ card had a due date of 3/2 online before I received a statement last week, approved in the last week of January. I got my first statement last week and due date is 3/2 and has all my purchases from when I was approved to last week 2/11, IDK.

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 13:57:55 GMT

In looking at the dates again, I think I was incorrect. Most likely you will receive a statement dated 2/15 with the due date of 3/12 so I would wait a few days and see what happens

Re: New chase card and first statement cut

degs138 — Sun, 14 Feb 2016 15:17:01 GMT

Do you have a payment due amount? You should see one around 2/15. Then anything you spend won't be due until 4/12. I got a new card on 1/20. Due date was 3/1. On 2/4 my statement cut and I was given a statement amount.

Re: New chase card and first statement cut

EdMan63 — Sun, 14 Feb 2016 15:55:19 GMT

@Anonymous wrote:
In looking at the dates again, I think I was incorrect. Most likely you will receive a statement dated 2/15 with the due date of 3/12 so I would wait a few days and see what happens

This is 100% correct. The first statement cuts the month you get the card typically 3 days after due date and in this case that date would have been 2/12. So wait until after 2/15 if you don't want the balance to post.

Re: New chase card and first statement cut

red259 — Sun, 14 Feb 2016 22:16:04 GMT

@Anonymous wrote:
In looking at the dates again, I think I was incorrect. Most likely you will receive a statement dated 2/15 with the due date of 3/12 so I would wait a few days and see what happens

Then I am screwed because I made the charge already.

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 22:27:25 GMT

@red259 wrote:
@Anonymous wrote:
In looking at the dates again, I think I was incorrect. Most likely you will receive a statement dated 2/15 with the due date of 3/12 so I would wait a few days and see what happens
Then I am screwed because I made the charge already.

Not necessatily. If the charge doesnt post by tomorrow, you'll be fine

Re: New chase card and first statement cut

Anonymous — Sun, 14 Feb 2016 22:35:46 GMT

Also, in looking at all my Chase accounts, if something posts between the due date and the statement date 3 days later, it goes on subsequent statement. If you made your charge after 2/12, it wont be on this statement (2/15) but the next one.

Re: New chase card and first statement cut

EdMan63 — Sun, 14 Feb 2016 22:42:06 GMT

@Anonymous wrote:
Also, in looking at all my Chase accounts, if something posts between the due date and the statement date 3 days later, it goes on subsequent statement. If you made your charge after 2/12, it wont be on this statement (2/15) but the next one.

This is good to know. I always avoid charging anything during those 3 days to avoid additional postings. Now I won't worry about it.

Re: New chase card and first statement cut

red259 — Sun, 14 Feb 2016 22:53:19 GMT

@Anonymous wrote:
Also, in looking at all my Chase accounts, if something posts between the due date and the statement date 3 days later, it goes on subsequent statement. If you made your charge after 2/12, it wont be on this statement (2/15) but the next one.

Ok that is good to know.

Re: New chase card and first statement cut

red259 — Wed, 24 Feb 2016 00:06:26 GMT

@Anonymous wrote:
Also, in looking at all my Chase accounts, if something posts between the due date and the statement date 3 days later, it goes on subsequent statement. If you made your charge after 2/12, it wont be on this statement (2/15) but the next one.

Just an update. This information turned out to be wrong. My charges made after the due date but before the new statement cut went onto this statement. This puts me in a very bad spot because I can't be sure all the vendor payments will be in on time whereas there wouldn't be any issue covering the charges if they were on the next cycle.

Re: New chase card and first statement cut

FinStar — Wed, 24 Feb 2016 01:18:13 GMT

Honestly, and provided it could have waited a couple days, I would've placed the charge on 2/16 or 2/17. IME, just how Chase does their batch processing and also depending how fast the vendor or merchant releases the transaction for posting. Some transactions caught in the middle of what I call "eeeek" land (between the due date and cycle/statement date) can either work in your favor or against depending on when they post.

I suppose this is a lesson learned and can help others time their transactions to avoid issues. Depending on how large this transaction is on your statement, it appears you may need to carry it for two cycles depending on when everything is settled?

Re: New chase card and first statement cut

tacpoly — Wed, 24 Feb 2016 08:43:36 GMT

An easy way to think about it: any purchase posted (i.e. not pending) to your account when the statement is cut will be included in that statement. The cut-off for including purchases in a statement is the statement-cut date, not the due date.

I would have thought the difficult part here was figuring out when the statement-cut date is as this was the first statement; ironically, people seems to have correctly determined that.