BOA Due Date/ Closing Date Backwards?

Anonymous · ‎08-20-2017

Hi Everyone!

On my fiance's BOA credit card (Bankamericard to be exact), his due date is the 21st of every month and the closing date is the 24th of every month. Can anyone tell me why this is? It seems like they have this backwards. He is unsure when he is suppose to pay so that it reports $0 to the credit bureaus. Anyone have a credit card with BOA and experience the same thing? When do you pay so that a $ 0 balance reports?

Thanks!

Anonymous · ‎08-20-2017

These off ball things happen a lot...a few of my dates are very similar, especially if you've requested a new due date and they never adjusted the cut date.

Here's the deal...he simply has a few EXTRA days of grace period...no biggie, it's actually a + on his side

Normally,his head feels a 24th Cut date should = 25 days so around the 17th/18th depending on the number of days in the month....

Some companies don't even want to trip so they just widen the grace so February, December whatever here's a wide even girth that it always works out.

So his Cut date ( the day, the Credit Bureau snapshot is taken) is the 24th
Statement Cut/ Billing Date/ Cut date all the same...it's when the Bill/Statement is present has an Invoice to be Paid By

Again,it just so happens that the Due Date almost wraps back around to the next billing cycle BUT it doesn't, it ask for payment by the 21st

Again just giving him a few days EXTRA from the more "normal" 18th of so

You'll likely see this again, so get used to get

Hope that helped

Anonymous · ‎08-20-2017

@Anonymous wrote:
Hi Everyone!

On my fiance's BOA credit card (Bankamericard to be exact), his due date is the 21st of every month and the closing date is the 24th of every month. Can anyone tell me why this is? It seems like they have this backwards. He is unsure when he is suppose to pay so that it reports $0 to the credit bureaus. Anyone have a credit card with BOA and experience the same thing? When do you pay so that a $ 0 balance reports?

Thanks!

The gap is a little short (usually 5 days) but it's not backwards at all, the due day (for the previous statement) is always before the next statement cut date. If he wants to report $0, he needs to pay the total balance (not just the previous statement balance) before 24th, the tricky part is making sure no pending charges or upcoming auto payment will post between your payment and the statement cut date.

minipoly1 · ‎08-20-2017

The due date is always after closing date (usually ~25 days). For example, if the current closing date is Aug 24th, then the due date for that statement should be Sep 21st.

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Kforce · ‎08-20-2017

@Anonymous wrote:

The gap is a little short (usually 5 days) but it's not backwards at all, the due day (for the previous statement) is always before the next statement cut date. If he wants to report $0, he needs to pay the total balance (not just the previous statement balance) before 24th, the tricky part is making sure no pending charges or upcoming auto payment will post between your payment and the statement cut date.

+1, Most payment micro-managers either stop using the card for about 5-7 days, and

use another card that reports at a different date. /or/ Push money from their bank or

credit union account with enough to cover all pending charges and expected auto payments.

I find it hard to stop using a card because each of my cards has rewards in different category's.

It seems more convenient to push payments for micro-managing.

** Note: With a couple of CC's you will loose cashback if you push more than you owe. (Citi DC for one)

However for me the "Citi DC" is the only problem child.

Kforce · ‎08-20-2017

@Anonymous wrote:
Hi Everyone!

On my fiance's BOA credit card (Bankamericard to be exact), his due date is the 21st of every month and the closing date is the 24th of every month. Can anyone tell me why this is? It seems like they have this backwards. He is unsure when he is suppose to pay so that it reports $0 to the credit bureaus. Anyone have a credit card with BOA and experience the same thing? When do you pay so that a $ 0 balance reports?

Thanks!

The due date of the 21st is for the previous statement. and the closing date (aka statement date)

is when a new balance, minimum payment, etc is calculated. To report $0 due at the statement

cut date he needs to look online and pay his total balance due + any pending charges that

might post between pushing the money and the statement date.

Anonymous · ‎08-25-2017

Thanks for the clarification everyone!