For those with a CSP - website payment - timing question

[expatCanuck]

Hi folks -

I've asked a Chase rep, and was not overwhelmed by her confidence (and it isn't in keeping with my experience at other banks/issuers), so I'm asking folks here -- if one pays via the Chase website on the (morning of the) period Close Date, will that payment make the statement?

Example:

$1000 owing, period Due Date Feb 7, End Date Feb 10;

assume that

• any required Due Date payment has been made
• the bank account from which payment will be drawn is not a Chase account

If I pay $1000 via Chase's website on the morning of the 10th, will that payment make the statement?

(i.e. - will the Statement cut with a $1000 balance or a $0 balance?)

(My experience with BoA and Citi, given this scenario, is that the statement will cut with a zero balance.  I'm new to Chase.)

Hoping to hear from those with real-life experience.

[iced]

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wrote:

Hi folks -

I've asked a Chase rep, and was not overwhelmed by her confidence (and it isn't in keeping with my experience at other banks/issuers), so I'm asking folks here -- if one pays via the Chase website on the (morning of the) period Close Date, will that payment make the statement?

Example:

$1000 owing, period Due Date Feb 7, End Date Feb 10;

assume that

• any required Due Date payment has been made
• the bank account from which payment will be drawn is not a Chase account

If I pay $1000 via Chase's website on the morning of the 10th, will that payment make the statement?

(i.e. - will the Statement cut with a $1000 balance or a $0 balance?)

(My experience with BoA and Citi, given this scenario, is that the statement will cut with a zero balance.  I'm new to Chase.)

Hoping to hear from those with real-life experience.

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The data I can provide.

1. Any online payment made to Chase does not usually show up until the next day. That is, if I show a $1000 balance today and I pay it online right now, it will still show a $1000 balance and no payment made tonight, but when I wake up in the morning to check, it will show $0 balance with a $1000 payment made.

2. There is a delay of around 4 days from the payment due date to the balance cut date. Pending charges that are paid during that window will show up on the balance, just as payments made in that time will be credited before the statement.

Based on this, it is very reasonable to think that if you paid today, it will be credited and reflected before the statement cuts. What I cannot answer is if you have an amount due today and you pay today and it isn't credited until the morning on the account if you will be charged a late fee or not.

[expatCanuck]

Thanks.  Not particularly concerned about late fees -- they should only apply if I miss paying the minimum by the due date, and I'm not gonna come close to playing with fire like that; at worst, I pay the minimum a few days into the new cycle.  More often, I pay in full prior to the due or end date.

My interest is in determining how late I can pay so that the card still reports a zero balance.

That said, I've read that when one pays a Chase account to zero, Chase reports that mid-cycle, so it's not a huge issue.

[UpperNwGuy]

You're not getting definitive answers here, so I think you should be your own data point.  Try it.  See what happens.  Then tell us what happened.

[Anonymous]

I have always been told to pay a few days in advance. I know in December with NFCU I made a payment in the branch with a teller on the final day and even then it was credited that night after the close out. So my payment didn't make the cut dropping my score and unfortunatly a late payment fee. Ugh. Though they did give me the fee back. So, try it with Chase but I would guess they close out before running payments first to.

[expatCanuck]

I'm content to be a guinea pig in about 4 cycles -- after my EX score recovers from the wretched excesses of the holidays.  But I need some breathing room before I 'speriment.

[Gregory1776]

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wrote:

Hi folks -

I've asked a Chase rep, and was not overwhelmed by her confidence (and it isn't in keeping with my experience at other banks/issuers), so I'm asking folks here -- if one pays via the Chase website on the (morning of the) period Close Date, will that payment make the statement?

Example:

$1000 owing, period Due Date Feb 7, End Date Feb 10;

assume that

• any required Due Date payment has been made
• the bank account from which payment will be drawn is not a Chase account

If I pay $1000 via Chase's website on the morning of the 10th, will that payment make the statement?

(i.e. - will the Statement cut with a $1000 balance or a $0 balance?)

(My experience with BoA and Citi, given this scenario, is that the statement will cut with a zero balance.  I'm new to Chase.)

Hoping to hear from those with real-life experience.

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I’m just ramping up usage on my Amazon CC, now that Discover isn’t giving 5%, and had to figure this out as well.

Now, your saying your startsment closes on the 10th, and whatever balance you have that cuts is due the following month on the 7th. 

You want to know if you pay on the morning of the 10th, will your statement cut with payment posted, and in the single time of personal experience in this would be a no. My statement closes on the 24th, this past month on the 23rd i subbmitted my payment in full in the morning (with some pending charges on from Amazon) and my payment processed and posted the next day sometime in the morning. Unfortunately one purchase processed quick enough and cut on the statement and unfortunately got reported. But 🤷🏽‍♂️. 

So in conclusion, submit your payment on the ninth and hold off on any purchases on that card until the end of the day on the tenth (depending on how quickly the a merchant submits a payment and it posts.)

Hope I helped!! 😁😁😁

[Gregory1776]

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wrote:

You're not getting definitive answers here, so I think you should be your own data point.  Try it.  See what happens.  Then tell us what happened.

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Ill also second this, your local/ main bank or CU may be different! 😀

[RadioRob]

In my experience if it was a weekend, it would reflect Monday but backdated. Meaning the payment would miss the statement. If it was during a weekday it would post before the statement cut.

With that being said, remember Chase updates anytime you pay off balance. So if you missed it, it might only report a balance for 1-2 days before reflecting back to 0 again.

[EAJuggalo]

I've had Chase cards for two years now and never had a payment post the same day.  It's always the next day at the opening of business.