statement closing date differences?

[jupiterjet]

i noticed many major banks have the statement closing date be the 4th of every month for a due date of the 1st of the following month while some subprime banks have statement closing dates around the 8th or 9th of every month with the due date of the 1st for the following month.... How come there's this difference? Are the subprime banks not as trusting and therefore allow less time between statement closing date and the due date?

[Varsity_Lu]

@jupiterjet 

Pretty sure statement closing date is dependent on the date you were approved for the card.  You can also change the dates with most issuers.  I have all of my account statements posting on the 15th of the month.  Makes it easier for remembering due dates and payments and stuff.  The length of the grace period to pay also varies from bank to bank, but I don't think subprime banks really give you less time and major banks give you more.  Probably just a coincidence with the banks you are using.

[Kforce]

Both the due date and statement dates are issuer dependant.

Some issuers have a fixed date for both the due and statement the same for all cards issued from that issuer. 

Others set your due date by when you were approved for the card and then set a statement date from that date.  Some use a set number of days between due & statement, others like a statement date that is in each month and near end of month or early in next (27,28,1,2).  Others like last day of month as the statement date (28,30,31).

As @Varsity_Lu said many will let you move your due date, which might or might not move your statement date depending on the institution.

If you post a question about a specific institution members might have more info how that institution works.

Have a few that due and statement hit exact same day every cycle, and a few that the statement floats 3-7 days.

Knowing that an institution sets the due date cycle from approval date , you have control even if the institution does not allow due date changes.  The statement date is by the issuers policies and sometimes not something you can move or control.

[FicoMike0]

Ditto @Varsity_Lu 

My dates seem random.

@Kforce  offers an interesting discussion. I've noticed some fix the statement date, others fix the due date.

The only account I've noticed that fixes both dates is my aven card, issued by costal community bank. It's statement date is the 20th, due date the 13th. That only works out to 25 days for months with 31 days.

[TrapLine]

@Kforce 

In reference to checking and savings accounts, US Bank sets the date like checking statement cut off day is every 7th business day of the month and savings is every 17th business day of the month. It has not varied in fourteen years.

The US Bank credit card does vary but the payment due date is fixed with the actual statement cut off varying 3 to 5 days after the payment due date.

[Kforce]

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@TrapLine wrote:

@Kforce 

In reference to checking and savings accounts, US Bank sets the date like checking statement cut off day is every 7th business day of the month and savings is every 17th business day of the month. It has not varied in fourteen years.

The US Bank credit card does vary but the payment due date is fixed with the actual statement cut off varying 3 to 5 days after the payment due date.

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The statement postings and periods vary by many days on my USBank Checking & Savings.

My credit card has only been 3 days max, over it's 1.5 year life.

Savings statement's and end date examples:

[jupiterjet]

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@Kforce wrote:

Both the due date and statement dates are issuer dependant.

Some issuers have a fixed date for both the due and statement the same for all cards issued from that issuer. 

Others set your due date by when you were approved for the card and then set a statement date from that date.  Some use a set number of days between due & statement, others like a statement date that is in each month and near end of month or early in next (27,28,1,2).  Others like last day of month as the statement date (28,30,31).

As @Varsity_Lu said many will let you move your due date, which might or might not move your statement date depending on the institution.

If you post a question about a specific institution members might have more info how that institution works.

Have a few that due and statement hit exact same day every cycle, and a few that the statement floats 3-7 days.

Knowing that an institution sets the due date cycle from approval date , you have control even if the institution does not allow due date changes.  The statement date is by the issuers policies and sometimes not something you can move or control.

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it is synchrony and i feel ashamed for having a card with them

[TrapLine]

@Kforce 

Find your follow back of interest.

Note, I researched from 2012 through 2026. Further, in the past I have contacted the bank about changing the statement cutoff dates and they said "No".

Looked at Checking Statements for 2026,  my findings are consistently driven off of the 7th business day of the month which would vary the actual statement date. For 2026 the closing date has varied between the 9th and 12th of the month. As to 2012, it was the same spreads based on the 7th business day of the month.

As to Savings Statements for 2026, my findings are driven off of the 17th business day of the month. The actual statement date has shown to be between the 23rd and 27th. As to 2012, it was the same spreads based on the 17th business day of the month.

In re-checking the credit card, I find it has varied 2 calendar days over the last year of 2026. Now going back to 2012, I found the due date and closing date had a spread of 4 days.

Another poster mentioned and for me in reviewing my other financials, dates for checking and savings dates are driven off of the initial customer opening dates.

Going on, I have talked with the various financials about changing my checking and saving statements cutoff dates and have not found one institution willing to do that?!

[Kforce]

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@TrapLine wrote:

@Kforce 

Find your follow back of interest.

 I have talked with the various financials about changing my checking and saving statements cutoff dates and have not found one institution willing to do that?!

I prefer the issuers with true monthly cycles

Never moved checking or savings cycle date however have found good places for Hy-Savings,

with  1st --> EOM  (True monthly cycles), not dependant on when you open your account.

Have never figured out why all financial institutions are not like this.  

Makes no sense to have mid month cycles because you opened  the account on the 11th.

[Kforce]

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@jupiterjet wrote:

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It is synchrony and i feel ashamed for having a card with them.

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Lots of members have cards with synchrony.

Just know and learn so you can be a little careful.

Have none of there cards but pretty sure your dates are because of when you

were approved for the card.

If you like a particular cycle for your due dates, wait to apply until the correct date in the month. 

It works for most of the cards, and can't hurt for the ones that control the cycle.

Win - Win.

Other members might post if synchrony lets you move the date or not.