topic Re: Synchrony Paypal cashback MC statement cycle question in Credit Cards

Synchrony Paypal cashback MC statement cycle question

GoldSorata — Wed, 08 Feb 2023 13:54:23 GMT

How does the statement cycle for the Paypal cashback mastercard work?

I got the card in early January (was apporved on Jan 6) and they posted a very short statement that was from Jan 7 to Jan 10. So I figured the statements would come out each month with a closing date of the 10th. But my next statement just posted, for Jan 11 through Feb 7. Is the cycle really going to be every 28 days? Or will it settle down and the closing date will actually be the 7th of each month going forward?

Re: Synchrony Paypal cashback MC statement cycle question

Bill77 — Wed, 08 Feb 2023 14:08:23 GMT

My statement closing date is the 15th of every month. For the first 6 months it would report 2x a month to the CRAs. Now it's the normal 1x.

Re: Synchrony Paypal cashback MC statement cycle question

K-in-Boston — Wed, 08 Feb 2023 14:35:51 GMT

While the due dates remain static, my experience with my Synchrony accounts has always been that the statement date has been dynamic. Because February is a shorter month, your statement closed a bit earlier to allow you the same amount of time before your due date. Short first cycles are normal for them. The last card I got from them (Rakuten Visa, now Premier MasterCard) actually had a statement closed before I even received the card.

Re: Synchrony Paypal cashback MC statement cycle question

GoldSorata — Wed, 08 Feb 2023 15:49:19 GMT

Yeah, after posting I realized that with Feb being a shorter month, it made sense since the due date does seem to remain static and is the 2nd of the month for both of my statements.

Re: Synchrony Paypal cashback MC statement cycle question

Credit12Fico — Thu, 09 Feb 2023 04:36:47 GMT

I don't know about others, but my statement closing is always 23 days before the next due date unless that would land on a Saturday, and then it moves to Friday instead.

Re: Synchrony Paypal cashback MC statement cycle question

FireMedic1 — Thu, 09 Feb 2023 10:13:31 GMT

It isnt constant like @K-in-Boston posted. Its a day or 2 around the main date. Feb was shorter. Heres the past 6 months:

Re: Synchrony Paypal cashback MC statement cycle question

SouthJamaica — Thu, 09 Feb 2023 12:48:20 GMT

@GoldSorata wrote:
How does the statement cycle for the Paypal cashback mastercard work?
I got the card in early January (was apporved on Jan 6) and they posted a very short statement that was from Jan 7 to Jan 10. So I figured the statements would come out each month with a closing date of the 10th. But my next statement just posted, for Jan 11 through Feb 7. Is the cycle really going to be every 28 days? Or will it settle down and the closing date will actually be the 7th of each month going forward?

It's not going to settle down to a particular date of the month.

To make matters worse, Synchrony sometimes reports your balance from dates other than the closing date, in addition to reporting the closing date balance.

Re: Synchrony Paypal cashback MC statement cycle question

Credit12Fico — Thu, 09 Feb 2023 16:13:25 GMT

@FireMedic1 wrote:
It isnt constant like @K-in-Boston posted. Its a day or 2 around the main date. Feb was shorter. Heres the past 6 months:

K-in-Boston said their due date is static and the statement closing is dynamic, so I believe you have misquoted.

Re: Synchrony Paypal cashback MC statement cycle question

Credit12Fico — Thu, 09 Feb 2023 16:15:27 GMT

@Bill77 wrote:
My statement closing date is the 15th of every month. For the first 6 months it would report 2x a month to the CRAs. Now it's the normal 1x.

You're statement closed on October 15th, 2022? Are you sure? You might want to look again. Synchrony doesn't close on Saturdays.

Re: Synchrony Paypal cashback MC statement cycle question

K-in-Boston — Thu, 09 Feb 2023 17:37:50 GMT

@Credit12Fico wrote:
@FireMedic1 wrote:
It isnt constant like @K-in-Boston posted. Its a day or 2 around the main date. Feb was shorter. Heres the past 6 months:

K-in-Boston said their due date is static and the statement closing is dynamic, so I believe you have misquoted.

I believe he was referring to the due date and was in agreement. (No comma after "constant" made the statement a little ambiguous.) I don't have my online accounts open, but I am pretty sure what you stated about due date - X days = closing date (unless a Saturday then -1 more day) is correct.