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

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Established Contributor

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

I have 3 cards and practice AZEO, so my due dates are on the 1st, 10th, and 17th.  The only card I requested a due date change on is my CFU (moved from the 21st to the 1st), since the card it replaced had a due date on the 1st, and 17th to 21st was too close together for me.  When I pay a card before statement cut I avoid using it until the statement cuts so the balance I want to report reports, so having at least a week between due dates allows one statement to cut before I come up on the next card's due date, and I'm only "prohibited" from using one card at a time.

 

Once you have over 4 cards, it's nearly impossible to spread them that far apart, so at that point (if I ever have that many) I'd start stacking 2 or more on or near the same due date, so I would have only 2 or 3 due dates to worry about each month.

 

I only use push payments from my credit union, so I don't have my checking info on multiple sites.  I don't have any autopays, since they can get messy when also making manual payments.  I always remember, and on cards I pay to zero before statement cut, there ends up being no payment due for 2 months anyway, so if I missed a month it wouldn't be an issue, unless I let a balance report.

 

 

I pretend to work, they pretend to pay me. I have pretend credit cards with pretend limits, so I can pretend to buy pretend things and pretend to pay the bills.

Message 11 of 19
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Regular Contributor

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

All my credit cards are set to automatically pay the statement balance on the due date.

I used to have due dates scattered throughout the month, but a few years ago it finally occurred to me that if I have most of my income near the end of the month, I should have my due dates then.

 

I'd like to have them all on the 28th but several credit card companies had more restrictive rules on what dates I could pick.  Most of those I could move to the 1st or the 25th. 

 

So I've concentrated all the money movement drama near the end of the month.

Message 12 of 19
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Established Contributor

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

I have mine in 2 clusters about 2 weeks apart.  This way I can swap to AZEO if needed and still get rewards for purchases, even if not completely maximized.









Message 13 of 19
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Super Contributor

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


@UpperNwGuy wrote:

@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.


Yep I always get paid around the 3rd so it's always then that I pay all of them but I have a budget app that has all my cards in it and I go through and check each one every month to make sure that there are no surprises. 

I didn't really think about auto pay before but now that this COVID-19 mess is here, I am rethinking that. If you're in a medically induced coma on a ventilator, you can't very well pay your cards on time. 




Message 14 of 19
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Frequent Contributor

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

Thanks for all of your input and approaches on this topic.
Message 15 of 19
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Valued Contributor

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

I've actually struggled with this because all my due dates are clustered between the 5th-14th, so occasionally when I try to do AZEO, it gets too trick. Ideally, I'd like to space them out evenly, so I can also track score changes. I just have to figure out which ones to move and to when. Every lender is different. It also doesn't help when they report inconsistently!!





Message 16 of 19
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Established Contributor

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

I don't care about my due date, so I only try to align my statement date. I emphasize the word "try" because different banks have different computations for calculating the statement date relative to the due date (the only date we have control over). I hate it, but it is impossible to get them all on the exact same date.


Message 17 of 19
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Valued Contributor

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

I've never changed mine.  I get paid once a month on the last day of month so I just pay everything then.



Last App: BECU 02-26-2020
Pronouns: He/Him/His
Message 18 of 19
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Regular Contributor

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

Due dates:

My Amex cards are 4th and 7th

My Chase cards are 15th and 25th.

 

That is just how they fell.  I do have autopays on but PIF by the last day of the prior month for Amex and by the 15th for Chase.  

 

 

Message 19 of 19
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