topic Re: Preferred Payment Due Date? in Credit Cards

Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 01:51:22 GMT

What is the most preferred and logical payment due date? I now have more than 1 card to manage and it would be nice to have all of the cards payment dates to line up so I could have a set day to make payments for all my cards. However, before I make a mistake and change my payment date to something completely illogical, I was wondering what everyone else prefers? Payments near the end of the month? Beginning of the month? Smack in the middle?

EDIT: Also is it possible to change your statement dates? Or are you pretty much sol in that category?

Re: Preferred Payment Due Date?

daybreakgonesXe — Fri, 25 Jul 2014 01:49:04 GMT

@Jungook wrote:
What is the most preferred and logical payment due date? I now have more than 1 card to manage and it would be nice to have all of the cards payment dates to line up so I could have a set day to make payments for all my cards. However, before I make a mistake and change my payment date to something completely illogical, I was wondering what everyone else prefers? Payments near the end of the month? Beginning of the month? Smack in the middle?

Really depends what suits you better I've seen people line their payments up on pay-day: money goes in and then right back out where it needs to go, helping to ease the stress of budgeting for your weekly, biweekly, or even monthly paychecks!

I personally don't mind my due dates all over the place, I have a little sticky on my desktop that reminds me when to pay what!

Re: Preferred Payment Due Date?

destine2grow — Fri, 25 Jul 2014 01:50:20 GMT

I think everyone payment use date depends on their finances. However most of my payments are due in the beginning and I one in the middl. Granted I have 3 CC and 3 store cards.

Re: Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 01:55:17 GMT

I hadn't thought about lining it up with pay days.

Quite depressing to think the money you're putting into your wallet goes straight back out D: Although I think that might be good for those who spend more than they actually can afford.

Re: Preferred Payment Due Date?

daybreakgonesXe — Fri, 25 Jul 2014 01:59:45 GMT

@Jungook wrote:
I hadn't thought about lining it up with pay days.

Quite depressing to think the money you're putting into your wallet goes straight back out D: Although I think that might be good for those who spend more than they actually can afford.

True! If one has the lifestyle that is capable of budgeting sufficiently, then they should still have money leftover per paycheck to utilize however they desire (extra cash for something special, moving into savings, etc. etc.).

You could also set your date between paychecks, so watching your money going towards bills doesn't hurt so much!

Re: Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 02:10:37 GMT

Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?

Re: Preferred Payment Due Date?

daybreakgonesXe — Fri, 25 Jul 2014 02:15:03 GMT

@Jungook wrote:
Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?

Statement dates usually follow the due dates, so you can't change your statement date without changing the due date.

Re: Preferred Payment Due Date?

buggie — Fri, 25 Jul 2014 02:20:38 GMT

My payment dates are all over the place. I have become obsessed about checking all my credit card accounts at least a couple times a week. Besides worrying about identity theft (now that I have something to worry about haha), I check them constantly to make sure they don't change the due date, etc. I've heard scare stories about companies doing that.

But they are more or less grouped towards the first week of the month and the third week of the month. I get paid biweekly so that works for me. It depends on how you get paid, how you would be best off to arrange them. I have an Excel spreadsheet with due date, hyperlink to the payment page, login info (in case I ever get hit by a bus) and credit limit / balance. It seems to be working well for me.

As far as changing payment dates go, I believe you can with most cards. I had luck with my Walmart store card (by calling customer service), and I think if I needed to I could change more of them. If they won't do it, they will tell you, I am sure.

Re: Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 02:24:23 GMT

@buggie wrote:
My payment dates are all over the place. I have become obsessed about checking all my credit card accounts at least a couple times a week. Besides worrying about identity theft (now that I have something to worry about haha), I check them constantly to make sure they don't change the due date, etc. I've heard scare stories about companies doing that.

But they are more or less grouped towards the first week of the month and the third week of the month. I get paid biweekly so that works for me. It depends on how you get paid, how you would be best off to arrange them. I have an Excel spreadsheet with due date, hyperlink to the payment page, login info (in case I ever get hit by a bus) and credit limit / balance. It seems to be working well for me.

As far as changing payment dates go, I believe you can with most cards. I had luck with my Walmart store card (by calling customer service), and I think if I needed to I could change more of them. If they won't do it, they will tell you, I am sure.

Wow an Excel sheet? I admire your effort put into credit! I don't think I could handle that though and would much prefer all my cards being in at least the same week.

Re: Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 02:25:52 GMT

@daybreakgonesXe wrote:
@Jungook wrote:
Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?
Statement dates usually follow the due dates, so you can't change your statement date without changing the due date.

Ah that makes sense. So if I change my due date to the middle of the month, my statement cut off date would follow and would the CCs then report the balances to the bureaus?

Re: Preferred Payment Due Date?

daybreakgonesXe — Fri, 25 Jul 2014 02:28:14 GMT

@Jungook wrote:
@daybreakgonesXe wrote:
@Jungook wrote:
Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?
Statement dates usually follow the due dates, so you can't change your statement date without changing the due date.
Ah that makes sense. So if I change my due date to the middle of the month, my statement cut off date would follow and would the CCs then report the balances to the bureaus?

Correct! For example, my Chase cards usually cut 3 days after the due date. So if I changed my due date to the 12th, my statement would cut on the 15th.

Re: Preferred Payment Due Date?

Jungook — Fri, 25 Jul 2014 02:31:52 GMT

@daybreakgonesXe wrote:
@Jungook wrote:
@daybreakgonesXe wrote:
@Jungook wrote:
Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?
Statement dates usually follow the due dates, so you can't change your statement date without changing the due date.
Ah that makes sense. So if I change my due date to the middle of the month, my statement cut off date would follow and would the CCs then report the balances to the bureaus?
Correct! For example, my Chase cards usually cut 3 days after the due date. So if I changed my due date to the 12th, my statement would cut on the 15th.

Ahh! I see. I was worried that if I changed my due date to the middle of the month, my statement would still end at the end of the month and report a higher balance due to credit card use during the gap between payments and statement cut off. Now that I think about it, I feel very silly!

Re: Preferred Payment Due Date?

pip3man — Fri, 25 Jul 2014 12:00:24 GMT

All my due dates fall on the 21st & 22nd each month but for my Macys AMEX which is on the 15th. And it works perfectly for me, somehow I dread paying bills in the beginning of the month. Btw I have 11 accounts.

Re: Preferred Payment Due Date?

takeshi74 — Fri, 25 Jul 2014 13:17:51 GMT

@Jungook wrote:
What is the most preferred and logical payment due date?

We can't tell you what you prefer and I'm not really sure that logic is all that relevant unless the scheduling of your paychecks plays a part in decision making. I don't care where my due dates fall. YMMV.

Re: Preferred Payment Due Date?

ezdoesit — Fri, 25 Jul 2014 13:48:24 GMT

Re: Preferred Payment Due Date?

ezdoesit — Fri, 25 Jul 2014 13:59:48 GMT

@Jungook wrote:
@daybreakgonesXe wrote:
@Jungook wrote:
@daybreakgonesXe wrote:
@Jungook wrote:
Hmmm bring on the pain!

but I think I've decided to just keep them the way they are and see how I handle it.

Also, can anyone answer the question if statement dates can be changed? or are they permanent from approval?
Statement dates usually follow the due dates, so you can't change your statement date without changing the due date.
Ah that makes sense. So if I change my due date to the middle of the month, my statement cut off date would follow and would the CCs then report the balances to the bureaus?
Correct! For example, my Chase cards usually cut 3 days after the due date. So if I changed my due date to the 12th, my statement would cut on the 15th.
Ahh! I see. I was worried that if I changed my due date to the middle of the month, my statement would still end at the end of the month and report a higher balance due to credit card use during the gap between payments and statement cut off. Now that I think about it, I feel very silly!

What you want to do is only going to help to make it easier for you to organize your bills. It's not going to help report lower balances for util purposes.