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Payment due and Cycle end Dates - how do you have yours set?

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Frequent Contributor

Payment due and Cycle end Dates - how do you have yours set?

Wanted to query how this forum sets their due / end dates.

Do you space them out or try to get certain cards on the same timeframe?

 

Of course, the number of active balance accounts is the greatest initial factor.   My minimum is three and can get up to twelve obligations monthly.

For the most part, mine has been organic.   I let them lay as determined  by the respective issuer.  However, with my Savor and Venture cards, I did edit those to be on the same cycle.  Would it be better to  have one with a due date on the 2nd and the other with the 16th for example?

 

Looking forward to your insights and strategies.

(I do pull payments from each  issuer as a matter of control and speed  so I am not going to set up any auto withdrawals.)

 

 

Message 1 of 19
18 REPLIES 18
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Epic Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?

I have so many .. it would be impossible to have them all on the same date ..lol

Most are between the 24th and 28th (took some doing)

I do have one set for the 16th.

nothing special.

Message 2 of 19
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Super Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?

Personal preference. It all depends if you are practicing AZEO, then you want some cluster or separation if you are trying to observe FICO score nuances.

Message 3 of 19
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Regular Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?

They fall as they fall. I have actually never requested a due date change on anything. Even as OCD as I am! 

Here's how I keep control: Google Calendar

 

I get paid every other Friday. When the direct deposit hits, I initiate manual payments for all bills (not just CC) due for the next 2 weeks. Let's me review amounts so someone else's mistake doesn't come out of MY bank account. 

*** MY AVAILABLE BALANCE IS NOT YOUR MARGIN FOR ERROR *** 

 

Smiley Happy

Message 4 of 19
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Super Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?

Most of mine are around the 21st of the month (requested). 

I have recently begun to not really care though. It was easier for me at the time but now I just always pay my cards on the same day every month. I still don't like having cards due early in the month since I don't get paid til the 3rd but the earliest due date I have ended up with was the 5th anyway. 




Message 5 of 19
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Valued Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?


@NoMoreE46 wrote:

... (I do pull payments from each  issuer as a matter of control and speed  so I am not going to set up any auto withdrawals.)


This is a risky practice. 

 

I recently read a post from a Covid-19 patient who got hospitalized for several weeks while credit cards didn't get paid. Now this member is starting up a GW campaign to try to raise scores from 450 back to 700+ where they were. Good luck with that.

 

Actually, I have a story too: Just last week I got an email that Office Depot had gotten my $45 payment and Thank You. The only problem with that is I haven't shopped at Office Depot in about a year. So why is my bank sending them money?

 

Come to find out my card had been used in 3 different states for about $250 each time (gift certs and a couple of incidentals), about a week apart. I was able to call & notify fraud and get the card replaced, charges reversed, etc. But think if I hadn't known, not paid when the statement came, more fraudulent charges got charged, etc. -- would Citi have been so agreeable, so quickly? And even if they were agreeable -- what if they'd already sent a 30-day late out to CRAs? Would I now be dealing with AA from other lenders?

 

Auto-withdrawal for minimum is a necessity. I would never ever do without. I rarely ever actually pay with it -- I almost always pay before the auto-pay hits. But it's great peace of mind & very inexpensive credit score insurance. 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (09/16/2020): FICO 08 EXP: 747; TU: 758; EQ: 775
2020 Goal Score: 760 across the board


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Message 6 of 19
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Established Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?

I've set all my statement cut dates to the 14th or for one, the 15th. It just makes it easier for me and all the due dates tend to be a day or two apart.

Chase Sapphire Reserve 18.5k
Chase Freedom 11.7k
American Express Bonvoy Brilliant 22.5k
American Express Bonvoy Business 10k
Barclays Aviator Red 4k
Citi Double Cash 13.5k
Amazon Store Card 10k

Fico 8s as of 10/1/2020:






Message 7 of 19
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Valued Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?


@ddm2k1 wrote:

They fall as they fall. I have actually never requested a due date change on anything. Even as OCD as I am! 

Here's how I keep control: Google Calendar

 

I get paid every other Friday. When the direct deposit hits, I initiate manual payments for all bills (not just CC) due for the next 2 weeks. Let's me review amounts so someone else's mistake doesn't come out of MY bank account. 

*** MY AVAILABLE BALANCE IS NOT YOUR MARGIN FOR ERROR *** 

 

Smiley Happy


I've never requested a due date change, and do this same thing without Google Calendar. I just log in to EVERY account on payday and make sure I'm paying anything due before the next payday.

 

Sometimes if I have specific goals/paydowns in mind, I'll map out the month on a scratch piece of paper. 

 

I typically use the cards that offer the most rewards, but sometimes for large purchases I'll use the card that is going to give me the longest grace period. Making a purchase the day after the statement cuts gives you nearly two months before you have to pay for it. 

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne - $130,400 total revolving
5% Conventional Mortgage @ 3.25% July 2020
May 2020 - EQ/EX/TU Fico8: 689/688/679 INQ: 4/2/2 Util: 13.7% total, 4 accts reporting $0, 5 accts each under 30%
Message 8 of 19
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Valued Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?


@James_A wrote:

@NoMoreE46 wrote:

... (I do pull payments from each  issuer as a matter of control and speed  so I am not going to set up any auto withdrawals.)


This is a risky practice. 

 

I recently read a post from a Covid-19 patient who got hospitalized for several weeks while credit cards didn't get paid. Now this member is starting up a GW campaign to try to raise scores from 450 back to 700+ where they were. Good luck with that.

 

Actually, I have a story too: Just last week I got an email that Office Depot had gotten my $45 payment and Thank You. The only problem with that is I haven't shopped at Office Depot in about a year. So why is my bank sending them money?

 

Come to find out my card had been used in 3 different states for about $250 each time (gift certs and a couple of incidentals), about a week apart. I was able to call & notify fraud and get the card replaced, charges reversed, etc. But think if I hadn't known, not paid when the statement came, more fraudulent charges got charged, etc. -- would Citi have been so agreeable, so quickly? And even if they were agreeable -- what if they'd already sent a 30-day late out to CRAs? Would I now be dealing with AA from other lenders?

 

Auto-withdrawal for minimum is a necessity. I would never ever do without. I rarely ever actually pay with it -- I almost always pay before the auto-pay hits. But it's great peace of mind & very inexpensive credit score insurance. 


I never liked automatic payments stemming back to my younger days and running my checking account on fumes.

 

However, I recently set them all up for the minimums for this VERY reason of unexpected illness/etc.

Ch 7 Discharge May 2015
Discover/Target/NFCU CLOC/NFCU More Rewards Amex/NFCU Platinum/PenFed Power Cash Rewards/PenFed Pathfinder Visa/Citi Costco Visa/CapitalOne SavorOne - $130,400 total revolving
5% Conventional Mortgage @ 3.25% July 2020
May 2020 - EQ/EX/TU Fico8: 689/688/679 INQ: 4/2/2 Util: 13.7% total, 4 accts reporting $0, 5 accts each under 30%
Message 9 of 19
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Valued Contributor

Re: Payment due and Cycle end Dates - how do you have yours set?


@Saeren wrote:

Most of mine are around the 21st of the month (requested). 

I have recently begun to not really care though. It was easier for me at the time but now I just always pay my cards on the same day every month. I still don't like having cards due early in the month since I don't get paid til the 3rd but the earliest due date I have ended up with was the 5th anyway. 


Paying all your cards on the same day every month is a good system.  If you pick the right day, you will never have a late payment.  I try to pay my cards on the last or next to last day of the month without regard to the due date.  Like you, my daily drivers have due dates around the 21st of the month (unrequested), and that date works quite well for me.  I don't use autopay.  I pay manually using "pull" payments.

Daily Carry: PenFed Power Cash • NFCU Flagship • NFCU More Rewards • Chase Freedom Unlimited
Sock Drawer: PenFed Promise • NFCU cashRewards • Chase Freedom • Chase United MileagePlus • UNFCU Azure
Message 10 of 19
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