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Chase Freedom first billing cycle question

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Super Contributor

Chase Freedom first billing cycle question

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? 

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Regular Contributor

Re: Chase Freedom first billing cycle question

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

 

They backdate it I guess..

 

My freedom was the same.

Arranged by age of card (Oldest first)
Capital One secured 825 /Walmart Store Card 10k / Chase Freedom 4k / Citi Simplicity 2k / Amex Delta 3k / Discover IT 2.5k / CapOne Quicksilver Rewards Card 3.5k /Local Credit Union 1k /Chase sapphire preferred 11k/ Huntington Voice Card 1.2k /DCU Visa Platinum 5k/Capital One Venture 5k/BoA Cash Rewards 2.5k/Amazon Prime Card 10k
My FICO Scores (updated 4/1/2015)
EQ 687 TU 735 EX 715

In the garden till 12/2015
Message 2 of 11
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Super Contributor

Re: Chase Freedom first billing cycle question

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

Message 3 of 11
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Senior Contributor

Re: Chase Freedom first billing cycle question


@jetlitheone 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 Smiley Happy

Ink Cash Signature $8.5k ~ Discover it $15k
Blue Cash Everyday $15k ~ Diamond Preferred $15k ~ Slate $17.5k ~ Sallie Mae WMC $24.5k
EQ 712 EX 716 TU 721




Message 4 of 11
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Regular Contributor

Re: Chase Freedom first billing cycle question

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

Amex ED 35k | CSR 20k | Cap1 Venture 18k | Chase Freedom 6k | Chase FU 5k | USAA Amex 14k |Cap1 QS 3.3k
Message 5 of 11
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Regular Contributor

Re: Chase Freedom first billing cycle question


@ddemari wrote:

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


Yes 

Arranged by age of card (Oldest first)
Capital One secured 825 /Walmart Store Card 10k / Chase Freedom 4k / Citi Simplicity 2k / Amex Delta 3k / Discover IT 2.5k / CapOne Quicksilver Rewards Card 3.5k /Local Credit Union 1k /Chase sapphire preferred 11k/ Huntington Voice Card 1.2k /DCU Visa Platinum 5k/Capital One Venture 5k/BoA Cash Rewards 2.5k/Amazon Prime Card 10k
My FICO Scores (updated 4/1/2015)
EQ 687 TU 735 EX 715

In the garden till 12/2015
Message 6 of 11
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Super Contributor

Re: Chase Freedom first billing cycle question

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. 

Message 7 of 11
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Regular Contributor

Re: Chase Freedom first billing cycle question

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. 

Arranged by age of card (Oldest first)
Capital One secured 825 /Walmart Store Card 10k / Chase Freedom 4k / Citi Simplicity 2k / Amex Delta 3k / Discover IT 2.5k / CapOne Quicksilver Rewards Card 3.5k /Local Credit Union 1k /Chase sapphire preferred 11k/ Huntington Voice Card 1.2k /DCU Visa Platinum 5k/Capital One Venture 5k/BoA Cash Rewards 2.5k/Amazon Prime Card 10k
My FICO Scores (updated 4/1/2015)
EQ 687 TU 735 EX 715

In the garden till 12/2015
Message 8 of 11
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Super Contributor

Re: Chase Freedom first billing cycle question

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. 

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Super Contributor

Re: Chase Freedom first billing cycle question


@T5Viggen 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) 

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