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I got a card last month and the statement cut was set to around 15 days after date of activation. I changed the due date and pushed it back by about 7 days and was expecting my first statement to cut in about 21 days since activation. That date has passed and I was hoping to see statement for the card. Instead, now citi says my first statement will be available in a future date, what adds up to be 50+ days from card activation. Is this normal? because now I believe my card won't be reported to CRAs for almost two months!
Wtih most of the approvals I've gotten lately the 1st statement date is within a week or so of getting the card in hand. If you pushed the date out then it's not really an issue as long as you login and don't see a payment due.
I pushed the date out by like 6 days. The statement cut was marked around 15 days in my case too. But after pushing the date out 6 days, it pushed the statemetn cut to next month by about 35 days lol
I was just hoping it'd report earlier so my AAoA could start recovering sooner rather than later and wanted to see what impact the new account has on my report. That gotta wait I guess.
ah, thanks. That's reassuring then. I don't mind if statement cuts late now.
@NaaryalHead wrote:I got a card last month and the statement cut was set to around 15 days after date of activation. I changed the due date and pushed it back by about 7 days and was expecting my first statement to cut in about 21 days since activation. That date has passed and I was hoping to see statement for the card. Instead, now citi says my first statement will be available in a future date, what adds up to be 50+ days from card activation. Is this normal? because now I believe my card won't be reported to CRAs for almost two months!
Reminds of how Chase used to report after an approval. Seems when you'd expect a statement the next month, it actually would be the following month instead. Used to be pretty useful for thin files with low scores to see that bit of delay and some extra mileage (month) for the INQ to age a bit making for some early next tries while trying to build cards.
Now on the flip of it all, i was just approved last week or so for a BB&T and surprisingly the first statement already cut today of all things.
No matter. Already PIF'd before it reported-even that soon. Different lenders do different statement periods.
You sure that you moved the statement date? Not the due date? Most lenders allow you to only move the due date and select the statement date for their convenience based on your due date. Sounds like you moved the due date to 6 days forward of the old statement date. Since you had 15 days to that statement date from account opening and 15+6 is 21. Now by law statement date must be 23 days or more before your due date so that makes your first due date a month later with 51 days. Does that sound about right?
Yes, I changed the due date (thats how I phrased it in my initial post as well). It indeed pushed the entire due date / statement cut to the next month. The due date was somehow pushed to the Next month and not the 6 or so days that I pushed it forward to.
I'm not entirely sure I understand the math you mentioned for 21 days.
To add to this, I am not seeing my Barclays Uber card statement cut on time either which is odd as all the banks where I changed the due date mentioned that the change will apply in 1-2 billing cycles. So why the statement cut off date change for this current month?
I basically changed due dates on all card to a single date so I can just pay them off in one go every month and not having to constantly keep up with 6 different banking apps on the phone for due dats.
Barclays replied with this explanation as to why my statement didn't cut on the usual date this month: "changing the billing cycle date modifies the due date of your billing statement. This may cause a second statement to generate which could cause the account to reflect two due dates within a month"
It's very normal for a lot of lenders, like Chase, Discover, Citi.
Only AmEx is know for a very quick first statement/due date.