topic Re: CitiBank closing date rhyme or reason? in Credit Cards

CitiBank closing date rhyme or reason?

Credit12Fico — Tue, 12 Apr 2022 02:58:18 GMT

Does anyone know the rhyme or reason behind the statement closing dates for Citibank?

My due date is the 16th of the month. The statement closing dates in different months will land on the 18th, 19th, or 20th. It can be any of them in a different month. I can't find the rhyme or reason.

Most other banks of BOA, Chase, have exactly 3 days between the due date, and the statement closing date. Some banks go by days where they add 30 days to your last due date, and that's the new statement closing. Some have specific rules where if the regular statement closing date lands on a Saturday, the closing gets moved to Friday. What's Citi's rules? Such an illogical lender

I want to know because I use a spreadsheet that auto populates due dates for my different credit cards and Citi is the only bank where I don't know the rule so I have to check the mobile app each time and manually enter the statement closing date.

My research into my own closing dates shows that Citibank does not exclude Saturday and Sunday closing dates (some banks do). But that's the only "pattern" I can see. And that's not really a pattern.

These were some closing dates in 2020. Absolutely no rhyme or reason to them.

3/19/2020

4/20/2020

5/20/2020

6/18/2020

7/20/2020

8/20/2020

9/18/2020

10/20/2020

11/19/2020

12/18/2020

Re: CitiBank closing date rhyme or reason?

SDMarik — Tue, 12 Apr 2022 02:55:12 GMT

That's odd, I just looked through a handful of my Citi statements and every single one has statement ending on the 21st, with a due date on the 17th of the following month.

Re: CitiBank closing date rhyme or reason?

Credit12Fico — Tue, 12 Apr 2022 02:59:37 GMT

@SDMarik wrote:
That's odd, I just looked through a handful of my Citi statements and every single one has statement ending on the 21st, with a due date on the 17th of the following month.

I'm curious. How old is your account? I opened this one in 2018. Citi has notoriously bad IT so I'm imagining that newer accounts may have been changed over to a system that isn't maddening.

My statement closing dates look like a monkey throws a dart on a board every month.

Re: CitiBank closing date rhyme or reason?

SouthJamaica — Tue, 12 Apr 2022 03:00:41 GMT

@Credit12Fico wrote:
Does anyone know the rhyme or reason behind the statement closing dates for Citibank?

My due date is the 16th of the month. The statement closing dates in different months will land on the 18th, 19th, or 20th. It can be any of them in a different month. I can't find the rhyme or reason.

Most other banks of BOA, Chase, have exactly 3 days between the due date, and the statement closing date. Some banks go by days where they add 30 days to your last due date, and that's the new statement closing. Some have specific rules where if the regular statement closing date lands on a Saturday, the closing gets moved to Friday. What's Citi's rules? Such an illogical lender

I want to know because I use a spreadsheet that auto populates due dates for my different credit cards and Citi is the only bank where I don't know the rule so I have to check the mobile app each time and manually enter the statement closing date.

My research into my own closing dates shows that Citibank does not exclude Saturday and Sunday closing dates (some banks do). But that's the only "pattern" I can see. And that's not really a pattern.

I looked at my Citi credit card statements and I don't see any pattern. My statement dates run just like yours.

Re: CitiBank closing date rhyme or reason?

K-in-Boston — Tue, 12 Apr 2022 03:11:09 GMT

My normal statement dates for Rewards+ circa 2016 and Double Cash circa 2004 (latter is AU) are both the 21st and due the 17th. Looking at the last two years of statements, if the 21st falls on a weekend, the statement closes the Friday prior. Assuming that is likely the case for you as well. All statements this year closed on the 21st.

Re: CitiBank closing date rhyme or reason?

FinStar — Tue, 12 Apr 2022 03:15:04 GMT

@Credit12Fico wrote:
Does anyone know the rhyme or reason behind the statement closing dates for Citibank?

My due date is the 16th of the month. The statement closing dates in different months will land on the 18th, 19th, or 20th. It can be any of them in a different month. I can't find the rhyme or reason.

Most other banks of BOA, Chase, have exactly 3 days between the due date, and the statement closing date. Some banks go by days where they add 30 days to your last due date, and that's the new statement closing. Some have specific rules where if the regular statement closing date lands on a Saturday, the closing gets moved to Friday. What's Citi's rules? Such an illogical lender

I want to know because I use a spreadsheet that auto populates due dates for my different credit cards and Citi is the only bank where I don't know the rule so I have to check the mobile app each time and manually enter the statement closing date.

My research into my own closing dates shows that Citibank does not exclude Saturday and Sunday closing dates (some banks do). But that's the only "pattern" I can see. And that's not really a pattern.

Citi statement cycle dates have always been variable for as long as I can remember, IME. It's important to note that Citi isn't unique to variable statement closing dates. American Express has them as well. So does Capital One (changed to variable dates not long ago), Wells Fargo, TD Bank, PNC, FNBO, BMO Harris, and so on.

But as far as Citi, my analysis has determined that the closing date typically starts 2 days past the due date, then followed by a variable range of 3 days. This has been consistent on all my Citi legacy CCs. Once I figured a pattern, I always knew to gray out that 3-day period.

In your scenario, if the due date is the 16th, then the statement closing date will be anywhere beginning on the 18th through the 20th. So, if you're planning on any transactions to post past the cycle date, always schedule things after the 20th. On the upside, Citi displays when your next statement will generate on the app or website, so at least you know when to expect a new statement to process. But from a month to month perspective, you really won't know a patterm until you start tracking things year-over-year.

Re: CitiBank closing date rhyme or reason?

SDMarik — Tue, 12 Apr 2022 03:16:32 GMT

@Credit12Fico wrote:
@SDMarik wrote:
That's odd, I just looked through a handful of my Citi statements and every single one has statement ending on the 21st, with a due date on the 17th of the following month.
I'm curious. How old is your account? I opened this one in 2018. Citi has notoriously bad IT so I'm imagining that newer accounts may have been changed over to a system that isn't maddening.

My statement closing dates look like a monkey throws a dart on a board every month.

I opened mine in 2020

Re: CitiBank closing date rhyme or reason?

K-in-Boston — Tue, 12 Apr 2022 03:17:14 GMT

@Credit12Fico Just saw your edit with statement closing dates. Yours seems to be keeping the same pattern as mine just a day earlier. If the 20th falls on a weekend, your statement closes the Friday before.

Re: CitiBank closing date rhyme or reason?

FinStar — Tue, 12 Apr 2022 03:19:17 GMT

@Credit12Fico wrote:

These were some closing dates in 2020. Absolutely no rhyme or reason to them.
3/19/2020
4/20/2020
5/20/2020
6/18/2020
7/20/2020
8/20/2020
9/18/2020
10/20/2020
11/19/2020
12/18/2020

Now, go ahead and post the ones from 2021. You'll see the pattern (hopefully) year-over-year.

Re: CitiBank closing date rhyme or reason?

SouthJamaica — Tue, 12 Apr 2022 03:20:04 GMT

@K-in-Boston wrote:
My normal statement dates for Rewards+ circa 2016 and Double Cash circa 2004 (latter is AU) are both the 21st and due the 17th. Looking at the last two years of statements, if the 21st falls on a weekend, the statement closes the Friday prior. Assuming that is likely the case for you as well. All statements this year closed on the 21st.

I think you're right that its falling on a weekend is the trigger. Has anyone ever told you that you have a great mind @K-in-Boston ? I have 2 Citi accounts. One does indeed revert to the previous Friday if the normal statement date falls on a weekend. The other account reverts to the following Monday each time the normal statement date falls on a weekend. So there was a pattern all along; I just wasn't smart enough to spot it

Re: CitiBank closing date rhyme or reason?

Credit12Fico — Tue, 12 Apr 2022 03:42:39 GMT

@FinStar wrote:
@Credit12Fico wrote:

These were some closing dates in 2020. Absolutely no rhyme or reason to them.
3/19/2020
4/20/2020
5/20/2020
6/18/2020
7/20/2020
8/20/2020
9/18/2020
10/20/2020
11/19/2020
12/18/2020
Now, go ahead and post the ones from 2021. You'll see the pattern (hopefully) year-over-year.

Unfortunately, in January I had my card replaced (because I wanted tap-to-pay, and a fresh clean card), and the insipids at Citibank wiped out all my statements from the old card number in the online banking. They just don't exist.

So I have a January, February, and March statement. Unfortunately I didn't record January or February of 2020. But I did record 3/2020 and 3/2022 and those are March 19th and March 18th respectively. From what little evidence that remains, I don't have a pattern across years in my account.

Re: CitiBank closing date rhyme or reason?

NoHardLimits — Tue, 12 Apr 2022 03:41:45 GMT

@SouthJamaica wrote:
@K-in-Boston wrote:
My normal statement dates for Rewards+ circa 2016 and Double Cash circa 2004 (latter is AU) are both the 21st and due the 17th. Looking at the last two years of statements, if the 21st falls on a weekend, the statement closes the Friday prior. Assuming that is likely the case for you as well. All statements this year closed on the 21st.
I think you're right that its falling on a weekend is the trigger. Has anyone ever told you that you have a great mind @K-in-Boston ? I have 2 Citi accounts. One does indeed revert to the previous Friday if the normal statement date falls on a weekend. The other account reverts to the following Monday each time the normal statement date falls on a weekend. So there was a pattern all along; I just wasn't smart enough to spot it

I have two Citi cards which are on the same statement cycle. If the normal date falls on a weekend, the statement date gets pushed to the following Monday.

Re: CitiBank closing date rhyme or reason?

Credit12Fico — Tue, 12 Apr 2022 03:43:34 GMT

@Credit12Fico wrote:

My research into my own closing dates shows that Citibank does not exclude Saturday and Sunday closing dates (some banks do). But that's the only "pattern" I can see. And that's not really a pattern.

I misread my calendar (wrong year). Based on my 2020 closing dates, Citi does not close my account on Saturday or Sunday.

Re: CitiBank closing date rhyme or reason?

FinStar — Tue, 12 Apr 2022 04:11:24 GMT

@Credit12Fico wrote:
@FinStar wrote:
@Credit12Fico wrote:

These were some closing dates in 2020. Absolutely no rhyme or reason to them.
3/19/2020
4/20/2020
5/20/2020
6/18/2020
7/20/2020
8/20/2020
9/18/2020
10/20/2020
11/19/2020
12/18/2020
Now, go ahead and post the ones from 2021. You'll see the pattern (hopefully) year-over-year.
Unfortunately, in January I had my card replaced (because I wanted tap-to-pay, and a fresh clean card), and the insipids at Citibank wiped out all my statements from the old card number in the online banking. They just don't exist.

So I have a January, February, and March statement. Unfortunately I didn't record January or February of 2020. But I did record 3/2020 and 3/2022 and those are March 19th and March 18th respectively. From what little evidence that remains, I don't have a pattern across years in my account.

Oh bummer. That definitely wiped out your potential 2021 analysis!

So, I went ahead and looked at one of mine (which had the exact due date/closing dates as yours) just for illustration purposes + using your format. The only thing notable between 2020 & 2021 was 2020 was a Leap Year, but none of the dates shown below fell on a weekend (Sat/Sun).

N/A = no statement generated (i.e. $0 balance or no activity)

N/A	1/20/2021	1/20/2022
N/A	N/A	2/18/2022
N/A	N/A	3/18/2022
4/20/2020	N/A	N/A
N/A	5/20/2021	N/A
6/18/2020	N/A	N/A
7/20/2020	N/A	N/A
8/20/2020	8/19/2021	N/A
9/18/2020	9/20/2021	N/A
10/20/2020	10/20/2021	N/A
11/19/2020	11/18/2021	N/A
12/18/2020	12/20/2021	N/A

Re: CitiBank closing date rhyme or reason?

HeavenOhio — Tue, 12 Apr 2022 04:50:22 GMT

Do cards from Citibank (the consumer division) and Citigroup (aka Citi) generate statements in the same fashion?

Re: CitiBank closing date rhyme or reason?

FinStar — Tue, 12 Apr 2022 05:12:25 GMT

@HeavenOhio wrote:
Do cards from Citibank (the consumer division) and Citigroup (aka Citi) generate statements in the same fashion?

Yes. Both Citi Retail and DSNB.

Re: CitiBank closing date rhyme or reason?

HeavenOhio — Tue, 12 Apr 2022 13:45:03 GMT

@FinStar, does that mean that Citi has three divisions that issue credit cards? I'm thinking of Citi (as in Double Cash and Costco), Citibank (as in Best Buy and LL Bean), and DSNB (which slipped my mind previously).

Re: CitiBank closing date rhyme or reason?

FinStar — Tue, 12 Apr 2022 17:46:45 GMT

@HeavenOhio wrote:
@FinStar, does that mean that Citi has three divisions that issue credit cards? I'm thinking of Citi (as in Double Cash and Costco), Citibank (as in Best Buy and LL Bean), and DSNB (which slipped my mind previously).

Basically, they all roll up to Citigroup, Inc. There's actually multiple divisions. But, in a nutshell, Citibank, N.A. is the main lending arm and has its subsidiaries which include: DSNB/FDS (Macy's/Bloomingdale's), products such as Best Buy & LL Bean are under the Retail Partner Cards Group of Citibank, N.A.(commonly known as Citi Retail Services), and products such as Double Cash & Costco are under the Citi brand of Citibank, N.A. (commonly known as Citi Cards).

Re: CitiBank closing date rhyme or reason?

NoMoreE46 — Thu, 15 Dec 2022 01:21:48 GMT

Replying to this Citi thread after reading a similiar thread about FBNO >>> (Predicting FNBO closing dates - myFICO® Forums - 6617304.)

In this thread, there is an explanation by @uncredited in Message 2 (copied below) on how to determine the date variances.

What do y'all think?

Seriously though it sounds like they must do the same thing Citi does, which is almost impossible to predict with a calendar. If so, I think I've figured out how it works, and there's not a way to really predict it automatically, it has to be manually done each time (or just use it assuming the first day of the range could always be it.) Assuming it's the same, what Citi seems to do is, it's a set 30 days from statement to statement, however, if 30 days lands on a Saturday, Sunday, or bank Holiday, they adjust the days where a Sunday becomes Monday, a Saturday becomes Friday, a Holiday depends on if the holiday would then move it to a weekend. So if 30 days lands mid-week with no holiday, it's 30 days, otherwise it starts meandering, always within that 4 day window. I don't know how they handle Feb though, since i started in March-April.

It's possible they're doing something else, but the pattern sounds like they probably use the same method.

Re: CitiBank closing date rhyme or reason?

Credit12Fico — Thu, 15 Dec 2022 01:52:16 GMT

@NoMoreE46 wrote:
Replying to this Citi thread after reading a similiar thread about FBNO >>> (Predicting FNBO closing dates - myFICO® Forums - 6617304.)
In this thread, there is an explanation by @uncredited in Message 2 (copied below) on how to determine the date variances.

What do y'all think?

Seriously though it sounds like they must do the same thing Citi does, which is almost impossible to predict with a calendar. If so, I think I've figured out how it works, and there's not a way to really predict it automatically, it has to be manually done each time (or just use it assuming the first day of the range could always be it.) Assuming it's the same, what Citi seems to do is, it's a set 30 days from statement to statement, however, if 30 days lands on a Saturday, Sunday, or bank Holiday, they adjust the days where a Sunday becomes Monday, a Saturday becomes Friday, a Holiday depends on if the holiday would then move it to a weekend. So if 30 days lands mid-week with no holiday, it's 30 days, otherwise it starts meandering, always within that 4 day window. I don't know how they handle Feb though, since i started in March-April.

It's possible they're doing something else, but the pattern sounds like they probably use the same method.

I have a statement that closed on March 18th, and the next statement was April 20th. I cannot for the life of me workout why that is the case. There are no holidays between Marth 18th and April 20th to explain the 33 day cycle which ends on a Wednesday...for why?

The strange thing is on a newer card I have with them, statement closes on the 14th of every month without fail. It's the older card that meanders between the 18th, the 19th, and the 20th with no rhyme or reason to my eye.

Card 1:

March 18th (Friday)

April 20th (Wednesday, 33 days after the last)

May 19 (Thursday, 29 days after the last)

June 20 (Monday, 32 days after last)

July 20 (Wednesday, 30 days after the last)

Aug 18 (Thursday, 29 days after the last)

Sep 20 (Tues, 33 days after the last)

Oct 20 (Thursday, 30 days after the last)

Nov 18 (Friday, 29 days after the last)

Dec 20 (Tues, 32 days after the last)

Card 2

Sep 14th

Oct 14th (Fri, 30 days after)

Nov 14th (Mon, 31 days after)

Dec 14th (Wed, 30 days after)

What is the reasoning?

I can't see any pattern. I add 30 days to any of them, and sometimes you land on a weekend, but even if you shift it past the weekend, Citi moved the statement even further out. A sunday closing (from the +30 method), ends up closing on the next wednesday for some reason.

At this point I believe older accounts are determined by monkeys throwing darts.