I've changed my dues dates with many different issuers. I like to have mine clustered so that statements cut within two parts of the month (the beginning and the middle). This allows me to better plan for which cards I want to report a balance.
To answer your question, the statement cycle appears to extend following a request for a due date change. I don't remember ever having a statement cycle shorten. So if you request a due date change to 14 days later than your previous due date, you will likely experience a one-time statement cycle that lasts roughly 14 days longer than the previous one.
Edit to add: I don't have any personal experience with NFCU date changes, but an effective date of 2/4 probably means that is your next due date. So, your statement should cut around the 7th of January. We'll see if that holds true. I'm very interested in the result because I just opened my first NFCU credit card account last month and will be requesting a due date change myself.
@Iusedtolurk wrote:
@NoHardLimits wrote:Edit to add: I don't have any personal experience with NFCU date changes, but an effective date of 2/4 probably means that is your next due date. So, your statement should cut around the 7th of January. We'll see if that holds true. I'm very interested in the result because I just opened my first NFCU credit card account last month and will be requesting a due date change myself.
@NoHardLimits I was thinking in order for me to know my Mininum Due for Feb. 4th and considering a statement closing date on Feb 7th that more than likely since my statement didn't close on the 3rd as usual this month it would probably close on the 7th of this month sooo I called NFCU and asked. The first rep. did not know off hand so they put me on hold and came back a couple minutes later stating my closing date for this month would indeed be on the 7th.
The due date change for NFCU was 1 cycle. I noticed in the past when I changed my Cap1 due dates it would take 2 cycles so nothing moved for an additional month.
Please reply back after Jan 7th to let us know the result. Yes, some banks take 2 cycles while others only take 1 cycle.
@GreatLife wrote:OP made me realize something I hadn't considered last week when changed the monthly due date on a Discover card from 2nd to 20th which becomes effective on Feb 20th. Card balance was paid down by Jan 2nd - typically CB's update on the 5th or 6th. Now I'm wondering when lower UT will show on my credit reports. Probably should've waited to change due date until after CB's updated my current balance.
Discover reports the balance as of the statement date. If your statement is delayed because of a due date change, then your lower utilization will also be delayed in reporting and will reflect the balance as of the new statement date.
@Iusedtolurk wrote:
@NoHardLimits wrote:
@Iusedtolurk wrote:
@NoHardLimits wrote:Edit to add: I don't have any personal experience with NFCU date changes, but an effective date of 2/4 probably means that is your next due date. So, your statement should cut around the 7th of January. We'll see if that holds true. I'm very interested in the result because I just opened my first NFCU credit card account last month and will be requesting a due date change myself.
@NoHardLimits I was thinking in order for me to know my Mininum Due for Feb. 4th and considering a statement closing date on Feb 7th that more than likely since my statement didn't close on the 3rd as usual this month it would probably close on the 7th of this month sooo I called NFCU and asked. The first rep. did not know off hand so they put me on hold and came back a couple minutes later stating my closing date for this month would indeed be on the 7th.
The due date change for NFCU was 1 cycle. I noticed in the past when I changed my Cap1 due dates it would take 2 cycles so nothing moved for an additional month.
Please reply back after Jan 7th to let us know the result. Yes, some banks take 2 cycles while others only take 1 cycle.
@NoHardLimits Well it's Jan. 8th and I checked my NFCU card and it indeed closed on the 7th as was expected with a DD of Feb. 4th.
Thanks for reporting back @Iusedtolurk!