topic Comenity Statement Processing... Weird? in Credit Cards

Comenity Statement Processing... Weird?

Anonymous — Wed, 05 Sep 2018 13:24:14 GMT

Does anybody else notice that Comenity seems to change statement dates frequently, especially to add new charges? I made a few charges on one of my Comenity cards on the normal statement date. I always PIF. Statement comes out and those charges have been incorporated. On one of the other ones, a few months ago, I made a few charges two days after the normal statement date. Statement comes out and those charges are on there!?

Re: Comenity Statement Processing... Weird?

FinStar — Wed, 05 Sep 2018 13:49:53 GMT

Comenity closing dates will vary, they are not fixed unlike the payment due date. Depending on the month, expect them to fluctuate (typically withing 3-4 days out).

For example, if your due date is on the 22th, the closing date can range from the 25th - 29th, depending on the month.

Re: Comenity Statement Processing... Weird?

SweetCreditObsession — Wed, 05 Sep 2018 15:20:03 GMT

I don't use the card often but expect a statement to generate not long after use.

Re: Comenity Statement Processing... Weird?

UpperNwGuy — Wed, 05 Sep 2018 16:56:41 GMT

If you use a card every month, you'll probably get a statement on the same day each month. If you go for many months without using a card, and then suddenly use it, the lender sometimes is eager to get the payments flowing again, and cuts the statement as soon as possible. This used to happen to me with store cards, but I can't remember if they were Comenity cards or not.

It's important to understand that lenders consider a customer to be a good one if they hear from them (in the form of a payment) every month. Putting cards in the sock drawer makes lenders nervous.

Re: Comenity Statement Processing... Weird?

Anonymous — Wed, 05 Sep 2018 17:00:55 GMT

@UpperNwGuy wrote:
If you use a card every month, you'll probably get a statement on the same day each month. If you go for many months without using a card, and then suddenly use it, the lender sometimes is eager to get the payments flowing again, and cuts the statement as soon as possible. This used to happen to me with store cards, but I can't remember if they were Comenity cards or not.

It's important to understand that lenders consider a customer to be a good one if they hear from them (in the form of a payment) every month. Putting cards in the sock drawer makes lenders nervous.

What happens if a customer has more than one card with a lender and SD's one while continuing to use the other one?

Re: Comenity Statement Processing... Weird?

Anonymous — Wed, 05 Sep 2018 22:16:54 GMT

@FinStar wrote:
Comenity closing dates will vary, they are not fixed unlike the payment due date. Depending on the month, expect them to fluctuate (typically withing 3-4 days out).

For example, if your due date is on the 22th, the closing date can range from the 25th - 29th, depending on the month.

@Anonymous @FinStar! This seems to be what is happening. I'm just going to have to limit my purchases to the middle of the month lol. I appreciate the insight.

Re: Comenity Statement Processing... Weird?

Anonymous — Thu, 06 Sep 2018 05:53:13 GMT

I have one Comenity card and the statement date is always exactly 26 days before the next due date.

Re: Comenity Statement Processing... Weird?

HeavenOhio — Thu, 06 Sep 2018 17:12:44 GMT

With banks that float statement dates around a bit, you simply have to make a note to check to see what it is each month. Hopefully, the next statement date is shown fairly prominently in your account when you log in. If not, check the current statement for the next closing date.

Re: Comenity Statement Processing... Weird?

HeavenOhio — Thu, 06 Sep 2018 17:15:46 GMT

@Anonymous wrote:
What happens if a customer has more than one card with a lender and SD's one while continuing to use the other one?

It can vary from one bank to the next. AMEX is good about letting one card prop up others. With Capital One, cards are considered independently for CLIs, but balances on one card can prevent another from being CLD'ed for non-use.

Re: Comenity Statement Processing... Weird?

Anonymous — Fri, 07 Sep 2018 02:29:10 GMT

@HeavenOhio wrote:
With banks that float statement dates around a bit, you simply have to make a note to check to see what it is each month. Hopefully, the next statement date is shown fairly prominently in your account when you log in. If not, check the current statement for the next closing date.

I find it easier (in the long run) to figure out the rule the bank uses to determine the statement dates. I have 10 credit cards with floating statement dates, but for each of them I know exactly how the statement date is determined. If people are interested, I could start a thread on what rules the various banks use.