topic Re: Chase Freedom first billing cycle question in Credit Cards

Chase Freedom first billing cycle question

ddemari — Wed, 03 Sep 2014 04:10:35 GMT

I was approved for the freedom card about 2 weeks ago, received the card early last week and used it a few times. Online I noticed it says next payment date, 10.28.14 but the statement closes on 9/9/14... So I do not have to make a payment until the end of next month? Will the card show up on my CRA report after 9.9 with the current balance? I am confused about that. 10/28 seems so far away but then the statement closes in a week?

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:12:22 GMT

The balance will show on the statement close not the date due.

They backdate it I guess..

My freedom was the same.

Re: Chase Freedom first billing cycle question

ddemari — Wed, 03 Sep 2014 04:13:44 GMT

so if I want it to report at zero, I should pay off the balance before 9/9? right?

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:14:13 GMT

@Anonymous wrote:
The balance will show on the statement close not the date due.

They backdate it I guess..

My freedom was the same.

+1 Agreed. Same thing happened with my card. I had no idea how to explain this correctly though. Enjoy your card

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:14:22 GMT

Same for my CSP and Freedom. The statement closed but the due date was about another 20-25 days away.

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:17:12 GMT

@ddemari wrote:
so if I want it to report at zero, I should pay off the balance before 9/9? right?

Yes

Re: Chase Freedom first billing cycle question

ddemari — Wed, 03 Sep 2014 04:19:04 GMT

hahaha, thanks for the replies! I appreciate the feedback. I was just confused by it, I have this feeling that after an app spree, as long as you dont run up any balances, your fico recoups quickly. I PIF all my cards monthly, but I pay attention to the close date and have my credit reports report 1% utilization which is just not super ideal / easy to do every month without work lol.

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:20:17 GMT

Lol no problem.

Yeah after an app spree your score rises as long as you get approved for most of the cards and have decent CL's

The more credit you have available, the better. Usually.

Re: Chase Freedom first billing cycle question

ddemari — Wed, 03 Sep 2014 04:23:48 GMT

I have 10 credit cards and let one report a small balance of 80 dollars but I am tempted this month to let 2 cards report a small balance. my available credit went from 15k to 22k.

Re: Chase Freedom first billing cycle question

jsucool76 — Wed, 03 Sep 2014 04:29:01 GMT

@Anonymous wrote:
Same for my CSP and Freedom. The statement closed but the due date was about another 20-25 days away.

Those 20-25 days are called a grace period. That is how long you have to pay your balance in full before the interest starts accruing.

in OPs case, the due date was well over a month later. Odd. I assume it has something to do with only having your card for a portion of what they consider your "statement run time" (statement open to close)

Re: Chase Freedom first billing cycle question

Anonymous — Wed, 03 Sep 2014 04:31:50 GMT

I would call and clarify