Changing Due Dates

[shane82388]

Does anyone have all their credit cards due on the first of the month? I was thinking to do this because its annoying not knowing exactly what my score will be throughout the month when differnt cards are cutting statments and posting balances, etc all at differnt times...

Anyway, if i was to change my due date on my AMEX card from the 13th to the 1st of April, would the statment instantly cut since its supposed to cut on the 28th and be paid on the 13th? How would that work? I jsut want my cards to report zero balances asap for this next month when i try to apply for a second AMEX.

Any tips?

[MarineVietVet]

---

@shane82388 wrote:

Does anyone have all their credit cards due on the first of the month? I was thinking to do this because its annoying not knowing exactly what my score will be throughout the month when differnt cards are cutting statments and posting balances, etc all at differnt times...

Anyway, if i was to change my due date on my AMEX card from the 13th to the 1st of April, would the statment instantly cut since its supposed to cut on the 28th and be paid on the 13th? How would that work? I jsut want my cards to report zero balances asap for this next month when i try to apply for a second AMEX.

Any tips?

---

Your statement date would adjust backwards. One of the provisions of the Credit Card Act of 2009 was that CCC's have to mail your statement at least 21 days before the due date. And since the due date has to be the same day of the month (also part of the Act) your new statement date would be approximately 3 weeks before the 1st of the month.

You can go here to read a Summary of the Credit Card Act.

[Anonymous]

---

@shane82388 wrote:

Does anyone have all their credit cards due on the first of the month? I was thinking to do this because its annoying not knowing exactly what my score will be throughout the month when differnt cards are cutting statments and posting balances, etc all at differnt times...

Anyway, if i was to change my due date on my AMEX card from the 13th to the 1st of April, would the statment instantly cut since its supposed to cut on the 28th and be paid on the 13th? How would that work? I jsut want my cards to report zero balances asap for this next month when i try to apply for a second AMEX.

Any tips?

---

I tried doing this a few months ago and was not able to get all my creditors to change to the same date. For example, Citi only has certain dates available to switch to. Unavailable dates are already at full capacity for their servers processing the statements, the CSR said. I was able to get all my CCs within 2-3 days of each other closing which I was happy with.

[bichonmom]

One benefit of staggering the dates is that you can use cards at different times of the month. For example, my Navy CC cuts on the 19th of the month, so sometimes I think twice about charging something on that card for a week or so before it cuts. It's like why charge something on the 16th that I'm going to be paying 3 days later. So, some things I will put on a different card for the week or so before that card cuts. Just a thought.

[LS2982]

---

@bichonmom wrote:

One benefit of staggering the dates is that you can use cards at different times of the month. For example, my Navy CC cuts on the 19th of the month, so sometimes I think twice about charging something on that card for a week or so before it cuts. It's like why charge something on the 16th that I'm going to be paying 3 days later. So, some things I will put on a different card for the week or so before that card cuts. Just a thought.

---

+1

I leave mine where they are just for this purpose.

[Anonymous]

     Just looked at my CapOne statements. Knew it always closed on the same date each month, which I like, but didn't realize it was due on the same date each month (whether it's 28,29,30,31 day month)

[LS2982]

I don't even pay attention to due date on my CC's because I make so many payments on them I've covered the payment no matter what.

[Duke-of-Earl]

Personally, I prefer having my due dates spread out through the month, as others have said.  I usually pay off each account just before the statement cycle closes, but to be safe I like to leave a two-day buffer during which I don't use that card.  Having the dates spread out means I always have some other card I can use.

But that's just my preference.  If you want to have them all due on the first, no reason not to -- in general.  I've also experienced what others have reported, that come CCCs won't let you move to a specific date (or at all!), but you could at least get them all close together.

Mainly, though, I'm worried about your plan to do it all in the next month.  This kind of thing sometimes/often goes wrong and takes another cycle to get fixed, and you may get a nasty surprise and possible unexpected effect on your balances and scores.  If you don't have at least a couple of months slack, I'd say don't try to do it.  Maybe it's worth the annoyance, and frequent score checking, for just one month or so.

Good luck either way!

[Anonymous]

What's important is that statement dates are around the same time so you can pay/not pay to make your utilization ideal - one card reporting small balance.  Although the due date and statment dates correlate tightly as someone mentioned earlier (21 day difference).  Call you CCC's to make the statement (closing) dates the same.  Makes your life simply.  For full disclosure, I haven't done this, but I think I will.

[jamesdwi]

---

@shane82388 wrote:

Does anyone have all their credit cards due on the first of the month? I was thinking to do this because its annoying not knowing exactly what my score will be throughout the month when differnt cards are cutting statments and posting balances, etc all at differnt times...

Anyway, if i was to change my due date on my AMEX card from the 13th to the 1st of April, would the statment instantly cut since its supposed to cut on the 28th and be paid on the 13th? How would that work? I jsut want my cards to report zero balances asap for this next month when i try to apply for a second AMEX.

Any tips?

---

I would hate to think about having all my credit card due on the first of the month, I guess its flash back from the days where I paidhav rent ( i own now) , rent was usually my biggest bill having that plus all my credit card payments due at the same time, oh the horror!  Though I also don't worry about it since I try and make weekly payments more than the minimum, only my Zync card will have to PIF what ever is left on the statement.