Due Date and Statement Cut Date Questions

[Anonymous]

Credit Union Card due date: 28th of each month
cap1: 25th of each month.

Okay so when. I make these payments. When do they report to the credit reports?

[Anonymous]

There is no telling.  Sometimes I make a PIF and 25 days later I get an alert that the account was paid in full.  Synchrony is notorious for that.

I have a system of paying all of my debts in full on the 1st of each month.  

I ran into a new situation where my statement cuts on the 1st and the payment is due on the 20th.  First of all, even though the statement cuts on the 1st you may not get the email about the statement until the 4th.

On my newest CC I find myself paying on the 4th which means I am paying bills twice a month now.

Would be nice if I could change my statement cut to the 8th or 9th and payment due date to the 4th or 5th of the next month.

[Anonymous]

The statement cut date, about 5 days after due date.  BTW you can call one of the 2 to change the due date to "synchronize" with the other, makes things easier.

[Anonymous]

Okay so if I make a payment on the due date. Before the cut date pay in full will that paid in full be posted.?

[Anonymous]

Example

I have a high balance on my 1500 credit card limit. I'm at a 1250 balance. It's high. I made a payment. But before it cuts could I post a payment of 1250? So when it reports. It will be a zero balance?

[Anonymous]

Yes, unless you still have pending payment or auto payment that posts between your payment and the cut date.

[Anonymous]

Okay. So right now. I paid 100$ to that balance. 1150 is left. 28th is the due date. So if before the cut day I pay the rest I'll be good? I'm new sorry. Thanks

[Anonymous]

If the due date is the 28th, your new statement cut date is probably the 2nd for the 3rd (you can call and find out for sure), as long as you make the payment before that, it will be reflected on the new statement, if you plan to make the payment after the due date, make sure the $100 satisfies the minimum payment amount.

[sarge12]

---

@Anonymous wrote:
Okay so if I make a payment on the due date. Before the cut date pay in full will that paid in full be posted.?

---

Yes, but the portion that was paid after due date will accrue interest, and of course it will have to actually post before the new statement cuts.

[sarge12]

---

@Anonymous wrote:
Example

I have a high balance on my 1500 credit card limit. I'm at a 1250 balance. It's high. I made a payment. But before it cuts could I post a payment of 1250? So when it reports. It will be a zero balance?

---

The statement balance is what is reported to the CRA every month usually. If when the statement cuts for the next month it shows a 0 balance, that is what will report to the CRA regardless of charges or payments made after the statement cuts...so when you have a STATEMENT BALANCE that amount gets reported and is figured into utilization. Current balance does not matter, only statement balance. If it is at 0 when the statement prints, you can max the card out the very next day and a 0 balance will be reported to the CRA.